Employees’ Provident Fund Organisation (EPFO) has made it mandatory to file online claims for provident fund withdrawals above Rs 10 lakh. Now it is also compulsory to file online claims for withdrawals of above Rs 5 lakh under the Employees’ Pension Scheme 1995. At present, EPFO subscribers have the option of filing online as well as manual claims for PF withdrawal as also for the pension.
Under the new regime, a subscriber’s bank account has to be seeded and verified in the system before online claims can be settled. Moreover, he/she must have a Universal Account Number and the same must be activated. The decision was taken at a meeting chaired by Central Provident Fund Commissioner