EPF withdrawals by online only from April 1

Beginning April 1, only online applications seeking withdrawals from Employees’ Provident Fund Organisation (EPFO) accounts by members will be entertained.
According to a press release from the EPFO, Madurai Region, as a part of a national initiative, it had been proposed to go paperless from August 15 across all EPF offices. Towards this end, EPF officials had conducted a number of workshops and sensitised members and their organisations to go online.
Already, the EPFO here has started receiving applications online, which are being processed by officers. “In the event of furnishing all required details, a subscriber will get his contribution credited in the bank account within three working days,” the press release said.
The applicants shall access the unified portal which will seek information pertaining to the member. After filling up basic details such as name, date of birth, age, father’s name, bank account, Aadhaar number and the UAN number, the application is sent to the EPFO, from where the process of repayment will begin. Any application, which seeks more than ₹10 lakh withdrawal, should be filed online. However, it would not be applicable to those seeking pension (Form 10D) and for those applying for legal heir purpose.
Regional PF Commissioner II S. Sankaralingam said employees should be sensitised to save their money in the EPF accounts to be withdrawn at the time of superannuation. Non-withdrawal would enable them to avail themselves of higher credit limits for home loan and other purposes. The employers had a responsibility to disseminate the merits of withdrawal at the time of retirement only to their employees.

No comments:

Post a Comment