New EPF Rules: Big relife..! EPFO updates policy on cheque leaf and bank passbook uploads. Details here
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New Delhi: EPFO has given aid to its crores of subscribers. In some instances, it’ll now not be vital for them to add the photograph of the cancelled cheque or bank passbook for declare settlement.
EPFO has mentioned that exemption has been given from importing the photograph of the cheque guide or bank passbook through the strategy of declare settlement solely in instances the place all different circumstances are met. This will assist in settling the claims filed on-line as rapidly as attainable. In most instances, claims are rejected if the picture of the cheque leaf or attested bank passbook copy is just not uploaded.
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EPFO has given this data in a round issued on 28 May. This determination has been taken for fast settlement of claims filed on-line and to scale back the variety of claims rejected resulting from non-uploading of picture of examine leaf/attested bank passbook. Approval has been taken from CPFC for this. But this exemption has been given solely in some instances of validation.
Also Read: New Rule From 1st June: These prime 5 guidelines shall be carried out from tomorrow – Check particulars instantly
That is, this exemption shall be given solely to these members whose different validations are full. These embody on-line verification of bank KYC by the involved bank or NPCI, verification of bank KYC by the employer utilizing DSC and verification of Aadhaar quantity seeded by UIDAI.
This is how officers will acknowledge
In such instances, a message will seem on the finish of the PDF associated to the declare. It shall be written that the bank has verified the bank KYC on-line and the employer has digitally signed it. Therefore, it isn’t obligatory to add the picture of the examine leaf / attested bank passbook. For the comfort of the officers investigating such claims, the power of fast shade tag shall be offered. This will assist them keep away from returning such instances.
EPFO has greater than six crore subscribers. 12% deduction is made on the essential wage of employees working within the personal sector for the EPF account. Along with this, the corporate additionally deposits the identical quantity within the PF account of the worker. Out of the cash deposited by the employer, 8.33% goes to EPS (Employees Pension Scheme), whereas the remaining 3.67% goes to EPF.
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