UPI Id creation for an HUF account

General
1

My question is two part

  1. Can we create a UPI id for payments in an HUF account?
  2. Can we apply for corporate actions using UPI for an HUF account?

Thanks in advance for your responses.

2

@mohitmehra Can you.

3

Generally, banks have a restriction on creating a UPI ID for non-individuals.

You can apply for IPOs using UPI for an HUF if you have one in the name of your HUF. If the bank account linked to the upi id is in the name of the Karta, the Registrar might still reject the application since PAN in demat (of HUF) and PAN in bank account (of Karta) will be different. You can also use netbanking ASBA to apply for IPOs in the name of your HUF.

4

Thank you @mohitmehra @siva for your responses.

5

If Registered mobile number is same in both Indiviual and HUF account, Can we create 2 upi id for both the accounts? Or else can we add BOth account in under one upi id? and while applying for IPO can choose bank accounts as per our requirement.