Home » Investment » EPF » EPFO makes online claims must for PF withdrawals above Rs 10 lakh

EPFO makes online claims must for PF withdrawals above Rs 10 lakh

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

the field offices have been directed that the claims must be accepted online in case the amount of provident fund withdrawal is above Rs 10 lakh.

They also added that

Similarly, the claims must be online in case the amount is above Rs 5 lakh under the employees’ pension scheme.

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 


Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

UPTET Admit Card Railway Result