EPF New Rules: Passbook will not be needed for the claim...
EPF New Rules: Passbook will not be needed for the claim...EPFO has changed the rules of its claim, giving a big relief to crores of subscribers across the country. Now the requirement of a bank passbook for EPF claim settlement has been abolished. Giving information in this matter, EPFO has told that if a subscriber fulfils all the other conditions, then in such a situation he has been given the exemption to upload the bank passbook for claim settlement. This will speed up the cases of online claim settlement. It is worth noting that EPFO used to reject many claims due to not uploading the image of the check leaf or attested bank passbook copy.EPFO issued a circularOn May 28, EPFO issued a circular in this matter and informed that EPFO has changed the rules for the settlement of claims filed online. Some changes have been made in the rules to reduce the number of claim rejections due to non-uploading of cheque leaf or bank account details, but this exemption has been given only in some cases of validation.Exemption will be given in these casesEPFO has informed in its circular that exemption will be given only to those EPFO members whose other validations are completed. This includes processes like online verification of bank KYC, bank KYC verification by the employer through DSC (Digital Signature Certificate) and verification of Aadhaar number through UIDAI.Bank details for EPF claimEarlier, to complete the EPF claim, a cancelled cheque of your account containing the name of the member, bank account number and IFSC code was required. This gives EPF the details of your bank account. In case of no check, the EPF member can also submit the bank passbook (signed by the bank manager) as account details. For this, the EPF member must have a Universal Account Number. Along with this, your Aadhaar number or bank account KYC must be completed and validated with the UAN number.