EPFO cautions PF account holders against online fraud. How you can stay safe
PremiumEPFO warned its members against sharing critical information like Aadhaar, PAN, UAN, bank account or OTP over phone or on social media
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Employees' Provident Fund Organisation (EPFO) recently took to social media to warn its subscribers about the potential threat of online fraud. The pension fund body, in a Twitter post, shared pointers on how to protect provident fund accounts from threats present online.
In its post, EPFO warned its members against sharing critical information even if the one asking for the same claims to be its representative. The PF authority clarified that it never asks subscribers to share their personal details like Aadhaar, PAN, UAN, bank account or OTP over phone or on social media.
EPFO further stated that for any service it renders, members are never asked deposit any money through WhatsApp, social media platforms, or such. It asked members to never respond to calls and messages asking them to share their personal details or send money in the guise of EPFO officials.
PF accounts are often targeted in phishing attacks, where malicious individuals dupe people into sharing crucial details to gain access to their pension funds. People switching jobs are at greater risk of falling prey to such frauds and need to be extra cautious. Any phishing calls or messages asking for your personal details can be reported to law enforcement agencies.
For charges against services provided by the EPFO, members should pay the appropriate fees only through official channels. Any request for payments via unauthorised channels are most likely cybercriminals trying to cheat you out of your money.
Earlier this week, the central government approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal. This is a good news for over five crore EPFO subscribers just ahead of Diwali.
In March last year, the EPFO had lowered interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent in 2018-19.
The EPF interest rate provided for 2019-20 was the lowest since 2012-13, when it was brought down to 8.5 per cent.
The EPFO had provided 8.65 per cent interest rate to its subscribers in 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.
It had given 8.75 per cent rate of interest in 2013-14 as well as in 2014-15, higher than 8.5 per cent for 2012-13. The rate of interest was 8.25 per cent on provident fund in 2011-12.
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