New Delhi, Nov 23: 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.
File online PF withdrawal from Dec 2014!
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.
PF and bank accounts should be linked with Aadhaar number to avail
this facility
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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