EPFO New Rule: The Employees’ Provident Fund Organization (EPFO) has simplified the claim process for its members by removing the need to upload a scanned photo of a check or bank passbook while filing an online claim . This move simplifies documentation and also makes the process easier for users.
Till now this was the rule
Till now, members claiming PF had to upload a scanned copy of the check or the first page of their bank passbook to verify the account details. If the uploaded copy was unclear, it often led to a mistake or the claim was rejected.
Apart from eliminating the check upload rule, EPFO has also removed the need for employer verification to link bank accounts. This means that members can now update their bank accounts directly through Aadhaar-based authentication, making the process even easier.
Government’s big decision on PF – you can get up to 5 lakh
EPFO has recently changed another rule. The Employees’ Provident Fund Organization (EPFO) has given a big relief to its crores of subscribers. Now any member will be able to withdraw up to Rs 5 lakh automatically from the EPF account through advance claim, that is, now there will be no need for manual verification to withdraw such a large amount.
What is the change?
Till now, EPFO had kept the amount up to Rs 1 lakh under auto-settlement under advance claim (ASAC – Auto Settlement of Advance Claims). That is, if an employee withdrew an amount of Rs 1 lakh or less, it was approved directly. But for amounts more than Rs 1 lakh, manual verification was required, which made the process long and time-consuming. Now this limit has been increased to Rs 5 lakh.
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