Tuesday, October 3, 2023

If the Aadhaar-PF link is not completed within two days, the PF will not be deposited. Understand what will change on September 1st

Changes in Rules Begin September 1st : Beginning September 1st, numerous key rules affecting clients in the banking and insurance sectors of the country will be adopted. You will not be able to withdraw money from your PF account if you do not link your Aadhar and PF account on the EPFO portal within the next two days.

Aadhaar-PF Link in New Delhi The deadline has passed. From September 1st, many significant changes (New Rules Changes) will take place in the country, which are critical for ordinary consumers and paid workers to be aware of. If you haven’t finished the critical process of integrating your Aadhar and PF accounts, don’t wait any longer. There are only two days left until the Aadhar PAN connecting deadline. You will not be able to withdraw money from your PF account if you do not link your Aadhaar and PF account on the EPFO portal within the next two days. Many other features may have to be sacrificed. The rules for traders, as well as GST returns, are altering (GST Return).

The Employees’ Provident Fund Organization has announced that starting September 1, only those employees whose Aadhaar number and PF’s Universal Account Number will be linked will get PF payments. Subscribers must link their Aadhaar numbers to their UAN numbers, according to EPFO. Otherwise, PF account holders will be denied access to a variety of services, including advance withdrawals and the transfer of PF funds into the account. In this case, neither the employees’ nor the firms’ PF contributions will be credited to the account.

Read More: The rules for transactions at the post office have changed; do you know how much money you will be able to withdraw now

Bumper-to-Bumper Coverage

Vehicles that are brand new On September 1, bumper-to-bumper insurance will be required for each new vehicle sold in the country. In this regard, the Madras High Court has issued an order. This is in addition to the five-year insurance requirement for the driver, passenger, and vehicle owner. This has the potential to drastically alter the vehicle insurance industry.

PAN Linked to SBI Mandatory

Customers of State Bank of India may have issues with large-amount transactions if they do not link their Aadhaar with their PAN. For high-value transactions, SBI has informed its clients that linking Aadhaar and PAN will be required (Aadhaar PAN Link Last Date). However, the State Bank has now extended the deadline till September 30. If you perform transactions of $50,000 or more with your SBI account in this case, you won’t be able to do so without linking.

It would be cost-effective to purchase a whole LPG cylinder.

Do this if you plan to start using LPG refills right away. Oil and gas companies, in fact, evaluate LPG rates at the end of each month. The price of LPG cylinders has been steadily increasing by Rs 25 apiece in the months of July and August. Consumers may suffer a setback in September as a result of rising crude oil and natural gas costs.

Keep a close eye on significant purchases by using a chequebook. For the transaction of huge amounts of checks, the Reserve Bank (RBI) has instructed all banks to deploy the Positive Pay System. If you write a check for $50,000 or more, your bank will be required to provide information via net banking, mobile banking, or a bank location. Check clearance can be done if you do not do this.Many public sector banks, including SBI, have set a Rs 50,000 minimum limit for this. In many private banks, however, the minimum sum is higher. Bank fraud and illicit transactions will be avoided as a result of this.



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