Provident Fund Withdrawal: EPFO Makes Online Filing Must for Claims Above Rs 10 Lakh

New Delhi, Feb 28: Retirement fund body EPFO (Employees' Provident Fund Body) has introduced a new norms for those filing return claims. It has now made it mandatory to file online claims if you have a withdrawal above Rs. 10 lakh. It is a step towards becoming a paperless organisation. The EPFO has also made it compulsory to file online claims for withdrawals of above Rs. 5 lakh under the Employees Pension Scheme 1995. Within the pension scheme, there is an option to remove just a part of your pension, known as commutation of pension money.

This decision was at a meeting chaired by  Central Provident Fund Commissioner on January 17, 2018. “EPFO has set a target of transformation to an electronic paper free organization by August 15, 2018. Various administrative and technical initiatives have already been implemented to achieve this target,” Central Provident Fund Commissioner (CPFC), V P Joy has written to his field offices. So if the claims are for the amount of provident fund withdrawal is above Rs. 10 lakh, then online filing is a must.

The going paperless process will more in implementation in the next two months. During these months, the officials will focus on verifying the Aadhar cards so that the forms received online can be processed well, rather than taking paper claims. The subscriber also has to have a universal account number or UAN and same must be activated.

Central Provident Fund Commissioner (CPFC) has asked field offices to take quick measures to adapt to the paperless office targets. The CPFC has advised all zonal and regional offices to take “earnest action” in achieving paper-free office as well as “default-free” EPFO system.

(The above story first appeared on LatestLY on Feb 28, 2018 02:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).