Filing online PF
withdrawal claims to be a
reality in December
reality in December
NEW DELHI: Retirement
fund body EPFO will launch the online facility for submitting provident fund
withdrawal claims in December, which would quicken such settlements and benefit
its over five crore subscribers.
At present, the
subscribers of the Employees' Provident Fund Organisation (EPFO) have to file
PF settlement claims manually after they leave job or post their retirement. The
online application of such claims would enable EPFO to eventually settle those
within three days.
"EPFO has decided
to provide the facility of online application for PF withdrawal claims. It will
be launched by mid December," a source said.
According to the
source, all those subscribers whose PF and bank accounts are linked with
Aadhaar number would be able to avail this facility.
Elaborating further he
said that since Aadhaar number provide anywhere anytime authentication of
identity on the basis of captured biometric details of a person, there would be
remote chances of fraud or cheating.
A senior official said
that sometimes EPFO takes more than mandated 30 days for settling provident
fund withdrawals claims due to various reasons including errors while filling
the manual form.
He said, "EPFO
would eventually settle all type of claims including PF withdrawal and transfer
within three days of filing those applications."
The body has planned
to settle 20-30 per cent of PF claims online by the end of this financial year.
During the last fiscal, it had settled a total of 1.21 crore claims including
over a million PF transfer cases.
The body has recently
issued over four crore Universal PF Account Numbers (UAN) which are being
seeded with Aadhaar number and bank accounts. This portable PF account would
enable subscribers to have only one account while working with various employers
throughout his/her life.
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