Introduction
The Employees’ Provident Fund Organisation (EPFO) has recently withdrawn the mandatory online claim decision for claims above 10 lacs. This decision was taken in order to simplify the process of claiming the provident fund amount and to reduce the paperwork involved. This move is expected to benefit the employees who have accumulated a large amount of provident fund over the years. It will also help to reduce the time taken to process the claims and make the process more efficient. This article will discuss the implications of this decision and how it will benefit the employees.
EPFO Has Withdrawn Mandatory Online Claim Decision For Claims Above 10 Lacs
The Employees’ Provident Fund Organisation (EPFO) has withdrawn its decision to make online claims mandatory for claims above Rs 10 lakh. The decision was taken after the EPFO received several representations from stakeholders, including trade unions, seeking a review of the decision.
The EPFO had earlier issued a notification on April 1, 2021, making it mandatory for members to file online claims for claims above Rs 10 lakh. The notification had stated that the online claim process would be mandatory for claims above Rs 10 lakh, including those for withdrawal of provident fund (PF) accumulations, pension, and insurance benefits.
However, the EPFO has now withdrawn the notification and clarified that the online claim process will not be mandatory for claims above Rs 10 lakh. The EPFO has also clarified that the online claim process will be voluntary for claims above Rs 10 lakh.
The EPFO has also clarified that the online claim process will be mandatory for claims below Rs 10 lakh. The EPFO has also clarified that the online claim process will be voluntary for claims below Rs 10 lakh.
The EPFO has also clarified that the online claim process will be mandatory for claims above Rs 10 lakh only if the claim is made through the EPFO portal. The EPFO has also clarified that the online claim process will be voluntary for claims above Rs 10 lakh if the claim is made through the employer.
Employee Provident Fund Organization (EPFO) has withdrawn its decision of mandatory online claims for claim amounts more than 5 lacs for pension and 10 lacs for PF amount. EPFO has taken this decision due to the problems facing by EPF members during online claims. Even till now there are so many EPF members whose KYC details are not linked with UAN number. In some cases even though KYC linked with UAN but they are not approved by the employer.
So without out updation of KYC of employees, they can’t able to claim their PF amount online. There are some other problems like EPF PAN error and Aadhar authentication error are also making the online claims difficulty.
Keeping in view of all those things Employee Provident Fund Organization has withdrawn mandatory 10 lacs online claim decision. So now EPF members can claim their PF amount in offline also event though the amount is more than 10 lacs.
EPFO has also taken another decision that every online claim will be sent to employer and employer has to approve or reject it within 3 days. EPFO is telling that this is for security purpose. We have to wait how this is going to help employees.
EPFO Has Withdrawn Mandatory Online Claim Decision For Claims Above 10 Lacs
The Employees’ Provident Fund Organisation (EPFO) has withdrawn the mandatory online claim decision for claims above 10 lacs. This decision was taken in order to reduce the burden on the EPFO and to provide more convenience to the members.
The EPFO had earlier made it mandatory for all claims above 10 lacs to be submitted online. This was done in order to reduce the paperwork and to make the process more efficient. However, the EPFO has now decided to withdraw this requirement in order to reduce the burden on the EPFO and to provide more convenience to the members.
The EPFO has also decided to allow the members to submit their claims in the traditional way, i.e. through physical submission of documents. This will help the members to save time and effort in submitting their claims. The EPFO has also decided to provide more flexibility to the members in terms of the documents that they need to submit for their claims.
The EPFO has also decided to provide more clarity to the members regarding the process of submitting their claims. The EPFO has also decided to provide more guidance to the members regarding the documents that they need to submit for their claims. This will help the members to understand the process better and to submit their claims in a more efficient manner.
The EPFO has also decided to provide more transparency to the members regarding the status of their claims. The EPFO will now provide the members with regular updates regarding the status of their claims. This will help the members to keep track of their claims and to ensure that their claims are processed in a timely manner.
The EPFO has taken this decision in order to reduce the burden on the EPFO and to provide more convenience to the members. This decision will help the members to save time and effort in submitting their claims and will also help the EPFO to process the claims in a more efficient manner.
