Employees’ Provident Fund Organization or EPFO which is a retirement fund body is mandatory to file online claims for provident fund withdrawals above Rs. 10 lakh, which is another step towards becoming a paperless organisation.
The EPF account holders are also required to file online claims for withdrawals of above Rs 5 lakh under the Employees Pension Scheme 1995 which has been mandated by the Employees’ Provident Fund Organizations (EPFO).
EPFO offers both the option of filing online as well as manual claims for provident fund withdrawal as also for pension to the EPF subscribers.
This decision of filing online claims for withdrawal of certain amount of money has been taken at a meeting chaired by Central Provident Fund Commissioner on January 17, 2018, said by an official
The official also said that
They also added that
Also note that the EPF account is required to be linked and verified in the system before the online claims can be settled. Also, the subscriber is required to have an activated universal account number.
And as per the rules, the claims exceeding the said limit would not be accepted in the physical form now onwards.
At present, the EPFO has over 6 crore subscribers and a corpus of Rs 10 lakh crore.
EPFO offers new facility for the citizens to generate UAN (Universal Account Number) easily. UAN is a 12 digit unique number which is allotted to every member of EPF (Employees’ Provident Fund), which helps the employee to keep a check of his EPF account.
To know more about it you can also read here – EPFO