{"id":6639,"date":"2018-03-01T08:14:58","date_gmt":"2018-03-01T08:14:58","guid":{"rendered":"https:\/\/sunkrish.com\/?p=6639"},"modified":"2018-03-01T08:15:22","modified_gmt":"2018-03-01T08:15:22","slug":"epfo-makes-online-claims-mandatory-for-pf-withdrawals-above-rs-1-mn","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2018\/03\/01\/epfo-makes-online-claims-mandatory-for-pf-withdrawals-above-rs-1-mn\/","title":{"rendered":"EPFO makes online claims mandatory for PF withdrawals above Rs 1 mn"},"content":{"rendered":"<figure id=\"attachment_4164\" class=\"thumbnail wp-caption alignleft\" style=\"width: 330px\"><a href=\"https:\/\/sunkrish.com\/wp-content\/uploads\/2017\/02\/EPFO-e1487937778805.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4164\" src=\"https:\/\/sunkrish.com\/wp-content\/uploads\/2017\/02\/EPFO-e1487937778805.jpg\" alt=\"\" width=\"330\" height=\"220\" \/><\/a><figcaption class=\"caption wp-caption-text\"><span style=\"color: #808080;\"><strong><em>Under the pension scheme, there is a provision of part withdrawal of pension, commonly known as commutation of pension money<\/em><\/strong><\/span><\/figcaption><\/figure>\n<p>Retirement fund body EPFO has made it mandatory to file online claims for provident fund withdrawals above Rs 1 million, taking another step towards becoming a paperless organisation.<\/p>\n<p>The Employees Provident Fund Organisation (EPFO) has also made it mandatory to file online claims for withdrawals of above Rs 0.5 million under the Employees Pension Scheme 1995.<\/p>\n<p>Under the pension scheme, there is a provision of part withdrawal of pension, commonly known as commutation of pension money.<\/p>\n<p>At present, EPFO subscribers have the option of filing online as well as manual claims for provident fund withdrawal as also for a pension.<\/p>\n<p>The decision was taken at a meeting chaired by Central Provident Fund Commissioner on January 17, 2018, an official said.<\/p>\n<p>The official said the field offices have been directed that the claims must be accepted online in case the amount of provident fund withdrawal is above Rs 1 million.<\/p>\n<p>Similarly, the claims must be online in case the amount is above Rs 0.5 million under employees&#8217; pension scheme, the official added.<\/p>\n<p>The bank account of the subscriber has to be seeded and verified in the system before the online claims can be settled.<\/p>\n<p>Moreover, the subscriber should have been issued a universal account number and same must be activated.<\/p>\n<p>The official said that all claims exceeding the said limits would not be accepted in the physical form now onwards.<\/p>\n<p>The EPFO has over 60 million subscribers and manages a corpus of Rs 10 trillion.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: <a href=\"http:\/\/www.business-standard.com\/article\/pf\/epfo-makes-online-claims-mandatory-for-pf-withdrawals-above-rs-1-mn-118022701030_1.html\" target=\"_blank\" rel=\"noopener\">Business Standard<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retirement fund body EPFO has made it mandatory to file online claims for provident fund withdrawals above Rs 1 million, taking another step towards becoming a paperless organisation. The Employees Provident Fund Organisation (EPFO) has also made it mandatory to &hellip; <a href=\"https:\/\/sunkrish.com\/index.php\/2018\/03\/01\/epfo-makes-online-claims-mandatory-for-pf-withdrawals-above-rs-1-mn\/\">Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":4164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,493],"tags":[305,480,482,523],"class_list":["post-6639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-corporate-services","category-economy-business-updates-corporate-affairs","tag-economy","tag-employees-provident-fund","tag-epfo","tag-online"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/6639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=6639"}],"version-history":[{"count":2,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/6639\/revisions"}],"predecessor-version":[{"id":6641,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/6639\/revisions\/6641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/4164"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=6639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=6639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=6639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}