BREAKING NEWS
EPFO Withdrawal Rules Changed: Know the New Procedure for Claiming Your PF Amount
In a significant development, the Employees’ Provident Fund Organisation (EPFO) has announced a change in its withdrawal rules, making it easier for employees to claim their provident fund (PF) amount. The new rules come into effect from [Date] and are aimed at reducing the processing time and increasing transparency in the system.
What’s the Change?
According to the new rules, EPFO members can now claim their PF amount through a simplified online process, without the need for an offline application. The updated process involves the following steps:
- Log in to the EPFO portal using your UAN (Universal Account Number) and password.
- Fill out the online withdrawal application form, providing the necessary details.
- Attach the required documents, including proof of identity, proof of address, and bank account details.
- Submit the application and wait for the processing to complete.
Benefits of the New Rules
The simplified online process is expected to reduce the processing time of PF claims from the current 30-40 days to just 3-5 days. This change is expected to benefit lakhs of EPFO subscribers who can now access their PF amount quickly and easily.
What Documents Are Required?
To claim your PF amount, you will need to provide the following documents:
- Proof of identity (Aadhaar card, PAN card, driving license, etc.)
- Proof of address (electricity bill, ration card, etc.)
- Bank account details (bank statement, cancelled cheque, etc.)
Key Takeaways
- EPFO has simplified the PF withdrawal process, making it easier for employees to claim their PF amount.
- The new process is expected to reduce the processing time to just 3-5 days.
- You can claim your PF amount online by logging in to the EPFO portal and filling out the application form.
- You will need to provide proof of identity, proof of address, and bank account details to complete the application.
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For the latest news and updates on EPFO and other retirement benefits, stay tuned to our website and social media channels. We will bring you the latest developments as they happen, so you can stay informed and ahead of the curve.
Related Articles:
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- EPFO Online Registration: A Step-by-Step Guide
- EPFO Claim Status: How to Check Your Claim Status Online
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Is there any video or a webpage dedicated to EPF ? I wld prefer to learn more abt it. Sounds worthy.
Doubt — after retirement, can we take out full of EPF balance as well ? Or EPS component wld come as pension directly ? So much confused wrt EPFO
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