EPFO makes online claims must for PF withdrawals above Rs 10 lakh
Retirement fund body EPFO has made it mandatory to file online claims for provident fund withdrawals above Rs 10 lakh, taking another step towards becoming a paperless organisation. The Employees Provident Fund Organisation (EPFO) has also made it mandatory to file online claims for withdrawals of above Rs 5 lakh under the Employees Pension Scheme 1995.
Under the pension scheme, there is a provision of part withdrawal of pension, commonly known as commutation of pension money. At present, EPFO subscribers have the option of filing online as well as manual claims for provident fund withdrawal as also for pension.The decision was taken at a meeting chaired by Central Provident Fund Commissioner on January 17, 2018, an official said.
The Business Standard, New Delhi, 28th February 2018