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Source: Live Mint The government on Thursday announced two major reforms to ease claim settlement process for employee provident fund (EPF). Members had to furnish a chequebook or a bank passbook to apply for the claim. You don’t have to do it anymore. Also, you no longer require the employer’s approval to link your bank…
Source: Live Mint EPF Withdrawal: The government is considering introducing the Employees Provident Fund (EPF) claims settlement option via the United Payment Interface (UPI) to ease the fund withdrawal process. EPF withdrawal is daunting for employees, who often fail to get their savings due to claim rejections. According to the EPF annual report released in…
Source: Live Mint That’s exactly what happened to Mr. A, who worked for three companies, each handling PF differently. When he finally decided to withdraw his savings, he hit an unexpected roadblock—his pension contributions under the Employees’ Pension Scheme (EPS) had never been merged. Without this step, his withdrawal request was denied. Read this |…
Source: Live Mint The Employees Provident Fund Organisation (EPFO) has simplified the process of transferring provident fund accounts of members who have changed jobs. The current requirement for employees to submit online transfer claims to previous and present employers has been removed. EPFO, in a circular released on January 15, provided details about cases in…
Source: Live Mint I worked with two different establishments from 2011 to 2015 and 2015 to 2016, respectively, for which I was assigned two different UANs and PF accounts. My current organisation, for the past eight years, does not have a provision for PF and, therefore, can not transfer the previous PF accounts. Is there…
Source: Live Mint EPFO has extended the deadline for UAN activation and seeding bank accounts with Aadhaar for availing the benefits under ELI scheme till Dec 15. Earlier the deadline was Nov 30. In the latest circular dated December 4, Employees Provident Fund Organisation has issued directions to all employers that the earlier circular stands modified….
Source: Live Mint If you are in the process of changing your job then the Employees Provident Fund Organisation (EPFO) has an important message for you. The retirement fund body has told the employees that they do not need to apply for a new UAN (Universal Account Number) at the time of changing jobs. This…
Source: Live Mint The Ministry of Labour & Employment has instructed the retirement fund body Employees’ Provident Fund Organisation (EPFO) to ensure that employees’ Universal Account Number (UAN) is valid to benefit from the Employment Linked Incentive (ELI) Scheme. According to the Union Budget 2024–2025, all eligible employees must activate their UAN and link their…
Source: Live Mint In 2023-24, the Employees’ Provident Fund Organisation rejected 8.7 million applications from individuals seeking to withdraw money from their EPF accounts. Read Full Article
Source: Live Mint If you are an EPF (Employees Provident Fund) subscriber and keen to check the account balance and/or the last contribution made, the process is super easy. You need to only give a missed call. The only condition is that the member’s mobile number must already be registered on the UAN portal. So,…
