The Employees’ Provident Fund Organization (EPFO) has made significant changes to its claim rules, providing relief to millions of subscribers nationwide.
One of the key changes is the removal of the requirement to submit a canceled check or bank passbook for EPF claim settlements.
EPFO has announced that if a subscriber meets all other conditions, they are exempt from uploading a checkbook or bank passbook for claim settlement.
This change aims to expedite the online claim settlement process. Previously, many claims were rejected due to the absence of a check leaf image or an attested bank passbook copy.
EPFO Circular Announcement
On May 28, EPFO issued a circular detailing the changes in the online claim settlement rules. These changes are intended to reduce the number of claim rejections due to missing check leaf or bank account details. However, the exemption is only applicable in certain cases where validation is confirmed.
Conditions for Exemption
According to the circular, only EPFO members who have completed other required validations are eligible for this exemption. These validations include:
1) Online KYC verification by the bank
2) Bank KYC verification by the employer through Digital Signature Certificate (DSC)
3) Aadhaar number verification through UIDAI
Bank Details for EPF Claim
Previously, to complete an EPF claim, members had to provide a canceled check from their account containing their name, bank account number, and IFSC code.
This was to ensure EPFO had accurate bank account details. In the absence of a check, members could submit a bank passbook signed by the bank manager.
Additionally, members needed a Universal Account Number (UAN), and their Aadhaar number or bank account KYC had to be validated with the UAN number.
How EPF Members Can Claim Online
1) Visit the EPFO member portal at EPFO Member Portal.
2) Log in using your UAN number and password.
3) Click on the claim section.
4) Choose the type of claim (e.g., pension or full settlement).
5) Verify the pre-filled details.
6) Upload the required documents or data as prompted by the portal.
7) Validate all the information and submit the claim.
8) Monitor the status of your claim through the portal.
By following these steps, EPF members can take advantage of the new exemptions and streamline their claim process.
