An EPF account can only be opened by the employer on behalf of an employee. Therefore, one cannot open an EPF account individually but they can link their AADHAAR card with UAN and get their UAN activated to check their PF details online. Also, if you want to open a PPF (Public Provident Fund) account online, then you can do so by visiting the individual portal of the bank that you wish to open a PPF account with.
The EPFO allows you to withdraw your EPF amount online as you can easily raise a PF claim by visiting your PF account online.
Now let us see how to register a PF account online:
• Step 1: Visit the official website of EPFO by clicking here – https://unifiedportal-emp.epfindia.gov.in/
• Step 2: You will find the ‘Sign In’ option on your screen. On the ‘Sign In’ page, you will find an option ‘New Employee Registration (OLRE)’ at the bottom of your screen. Click on this option.
• Step 3: After that, you will be prompted to go through the instruction manual and once you have read it carefully, you can tick mark the checkbox which says ‘I have read the Instruction Manual completely’ and click on ‘Register’ after doing so.
• Step 4: After clicking on ‘Register’, you will need to fill all the details like your name, address, PAN number, mobile number, etc. and you will also have to select a password. After that, enter the captcha code and click on the ‘Get PIN’ button located on the bottom of the screen.
• Step 5: Now, you will be directed to the declaration page where you have to tick mark the checkbox that says ‘I agree to the above declaration’. Also, enter the PIN that you will receive on your mobile number or email id after clicking on ‘Get PIN’. Now, click on register and complete the process.
By following the above steps, you can successfully complete the PF account registration online and check the PF details whenever you wish to do so.
High-paying investment options to grow your EPF corpus
EPF is a lucrative option for employees as it is safe and also provides high returns. However, your organization must be covered under the EPF scheme for you to avail this benefit.
There are many other attractive investment options like debt funds, fixed deposits, NSC (National Savings Certificate), etc. that provide good returns to the investors. FD stands out among all these options as it offers guaranteed returns at a predetermined rate of interest along with an assurance of the safety of your principal amount.
Bajaj Finance FD is one of the highest paying company FDs which offers interest rate up to 8.95%. This is 1-2% higher than most bank FDs. It is rated FAAA/Stable by CRISIL and MAAA/stable by ICRA.
While your EPF account will pay to provide you positive returns against high inflation, Bajaj Finance FD with a short tenor is the best way to safeguard your investment and earn high returns even when inflation is at its peak. This is because unlike EPF, Bajaj Finance FD rates are decided keeping in mind the current inflation index. Additionally, Bajaj Finance FD offers these superior benefits:
Flexibility – Among the different types of deposits, Bajaj Finance Fixed Deposit (FD) allows you to pick the tenor and amount as per your convenience. You can start investing with a minimal investment of Rs. 25,000 and enjoy the benefits of periodic interest payouts with the cumulative FD option. Moreover, you can also avail monthly, quarterly, six monthly, or yearly interest rates as per your choice.
Loans – You can raise a loan against FD at a marginal rate of interest (over and above what you are earning on your FD). Moreover, you need not use any other collateral as your FD itself serves as collateral for your loan. Therefore, you need not break your FD whenever you need money on an urgent basis as you can get a loan easily and repay it in easy installments.
Online account management – You can access your FD account online by logging into Experia- your online fixed deposit account. This portal allows you to check your accumulated interest, maturity amount, and maturity date easily. Also, you can estimate your final earnings with the help of an online FD calculator provided by Bajaj Finance. You can select the FD tenor and amount as per your requirements and check the final interest earnings and returns with the help of the FD calculator.
These features of Bajaj Finance FDs make it a perfect investment option to multiply your EPF corpus. The interest rates of up to 8.70% and easy withdrawal policy make it one of the best investment avenues for investors right now.