Polymer electrolyte membrane fuel cell (PEMFC), because of faster response, portability and the low operating temperature has found wide usage in applications requiring regulated output voltage. Alongwith voltage regulation, optimum stack efficiency is important for reliable operation. Overall, the maximum efficiency point (MEP) operation and voltage regulation need to be achieved while restricting the PEMFC operation till maximum power point (MPP). This demands operational adaptability of PEMFC over a wider range, to meet the desired levels of voltage regulation, maximum efficiency and MPP operation. However, achieving all the objectives simultaneously is challenging since operating points corresponding to the objectives differ. This paper proposes a control strategy that achieves operation dependent adaptability of PEMFC between the objectives as per the demand. The adaptability in controller tuning for MPP and voltage regulation has been formulated as multi-objective optimization (MOO) problem with a constraint on controller parameters, for allowing the PEMFC operation closer to MEP. The solution of MOO problem provides a set of controller configurations, each achieving different operating scenarios/objectives of the PEMFC system. Compared to the existing works aiming at either of the objectives, the effectiveness of the proposed approach is reflected in terms of simultaneous attainment of all the objectives.