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StaffCorner

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23 Nov, 2014 03:35 PM

Online EPFO withdrawal facility by December. To settle claims in three days

Online EPFO withdrawal facility by December. To settle claims in three days EPFO will be launching the online facility for the withdrawal claims in December. This facility will enable quick settlements and benefit its over five crore subscribers. 

Currently 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 settle those within three days.

According to the source, all those subscribers whose PF and bank accounts are linked with Aadhaar number would be able to avail themselves of this facility.

The body has planned to settle 20-30 percent 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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