EPFO makes significant move for EPF Members and Employers
EPFO is set to immediately benefit around 6 crore members, eliminating claim rejections due to poor-quality/unreadable uploads and reducing associated grievances.
The Employees' Provident Fund Organisation (EPFO) has made two significant simplifications to its claim settlement procedure in a significant move to improve the Ease of Living for EPF members and the Ease of Doing Business for employers. These steps will greatly expedite the claim settlement process and lessen complaints about denied claims.
Removal of Requirement to Upload Image of Cheque Leaf / Attested Bank Passbook
EPFO has completely dispensed with the requirement of uploading an image of a cheque leaf or attested bank passbook while filing online claims. This requirement was initially relaxed on a pilot basis for certain KYC-updated members.
As the bank account holder’s name is already verified with the EPF member’s details at the time of bank account seeding with the Universal Account Number (UAN), this additional documentation is no longer necessary.
By removing this requirement, EPFO is set to immediately benefit around 6 crore members, eliminating claim rejections due to poor-quality/unreadable uploads and reducing associated grievances.
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Removal of Requirement of Employer Approval for Seeding Bank Account Details with Universal Account Number (UAN)
To streamline the process of seeding bank accounts with UAN, EPFO has now removed the requirement of employer approval after bank verification. Currently, every member is required to seed his/her Bank Account with UAN in order to get their PF withdrawals seamlessly credited to such account.
During the F.Y. 2024-25, 1.3 crore members have submitted their requests for seeding their Bank Accounts and the requests after due matching with the respective Bank/NPCI are to be approved by the Employer through DSC/E-Sign.
Therefore, to facilitate ‘Ease of Doing Business’ to the Employers and ‘Ease of Living’ to the Members, the role of Employer to approve the verification of bank account has now been dispensed with in the seeding process of the member’s Bank Account. This will immediately benefit over 14.95 lakh members whose approvals are pending with the Employers.
The above simplified process will also facilitate those members who want to change their already seeded Bank Account by entering their new Bank Account no. along with the IFSC code duly authenticated through Aadhaar OTP.
The members who are yet to seed their Bank Account or change their seeded Bank Account can take advantage of the above simplified process to get their Bank Account seeded at the earliest.
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