Latest news with #EPFO
News18
16 hours ago
- Business
- News18
EPF Withdrawal Claim: Do You Need To Submit Any Documents?
In a parliament session, the Indian government explained whether or not EPF members are required to submit and substantiate EPF withdrawal claims through a document. As per the withdrawal rules established by the Employees' Provident Fund Organisation (EPFO), provident fund members are allowed to withdraw money from their PF account depending on their needs. The withdrawals can be made from a PF account to fulfil expenses made for education, marriage, buying a house, sickness, health emergencies and other purposes. A question persisted whether EPF members are required to submit any documentary evidence for their EPF withdrawal claim to the EPFO. Now, the Indian government has provided the answer to this in the current parliament session, easing the confusion many EPF members were facing. What Does Govt Say According to the government, 'No document substantiating the claim is required to be submitted to the EPFO offices." As per the responses made by the Ministry of Labour and Employment (EPFO) to the questions raised by members of parliament Vijayakumar alias Vijay Vasanth, Manickam Tagore B and Suresh Kumar Shetkar in the Lok Sabha, efforts have been made to streamline claim processes, enhance transparency and reduce rejections. The members asked for the details behind the rationale to allow employees to self-declare reasons for partial withdrawals from their provident fund accounts by EPFO and how the authenticity of the claims is being ascertained. The government's response to this reiterated that no documents are required to be submitted to the EPFO Offices to substantiate the claim made by the EPF member. The officials referred to the composite claim form introduced in 2017, which has rationalised the process of claiming advances/partial and final withdrawals by relying on 'self-certification' and reposing the trust on the member. When asked about the claim rejections experienced due to the poor quality of documents uploaded before and after the introduction of the new claim settlement process, the government explained the tweaks made to eradicate the problem. 'In the new simplified settlement process, the requirement of uploading the image of the cheque leaf/passbook was removed on 03.04.2025. The claims rejected due to poor quality document uploads for ensuring KYC/identity about the bank account have significantly reduced. Over 1.9 Crore members have benefited from the simplified process since 22.07.2025," the government replied in the parliament. view comments First Published: July 30, 2025, 15:31 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
18 hours ago
- Business
- News18
Out Of 15 Lakh Claims, EPFO Rejects 11 Lakh Higher Pension Request
Despite processing the higher pension claims, over 11 lakh applications for higher pensions were rejected by EPFO, with just over 4 lakh applications getting accepted. The turning point came with the Supreme Court's ruling on November 4, 2022, which clarified that EPF members enrolled before September 1, 2014, and still in service or retired thereafter, are eligible to opt for pensions based on higher actual salaries. In line with this decision, the EPFO has reviewed all related applications. So far, 4,00,573 demand letters have been issued to applicants confirming eligibility, while 21,995 applications remain under process. The government, however, has yet to disclose detailed reasons behind the high rejection rate or provide a clear resolution timeline. EPFO's Circular And SC's Ruling In 2014, the EPFO issued a circular that restricted higher pension benefits under the EPS to employees earning above a wage ceiling (initially Rs 6,500, later raised to Rs 15,000 per month). Employees earning above this threshold were not allowed to contribute to the pension scheme based on their actual salaries unless specific conditions were met. This led to widespread discontent, as many employees wanted to contribute to the EPS based on their full salaries to secure higher pensions upon retirement. The issue was challenged in various courts, leading to conflicting judgments, which ultimately reached the Supreme Court. The Supreme Court delivered a landmark judgment clarifying the eligibility for higher pension benefits under the EPS. Key points of the ruling include: Eligibility for Higher Pension: Employees who were members of the Employees' Provident Fund (EPF) before September 1, 2014, and either continued working or retired thereafter, are eligible to opt for a higher pension based on their actual salaries, without being restricted by the wage ceiling. This applies to both serving employees and retirees who were part of the EPF before the 2014 amendment.
Time of India
a day ago
- Business
- Time of India
EPFO orders audit of applications for higher pension; exempted units in focus
The Employees' Provident Fund Organisation (EPFO) will undertake an audit of all applications related to pension on higher wages (PoHW), with special emphasis on exempted establishments . In a notification issued recently, the EPFO said the audit will be done by its internal audit teams and will be completed before September 30 this year. ET has seen the notification. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Healthcare Product Management MBA Design Thinking healthcare Data Analytics CXO Management Cybersecurity others Digital Marketing Degree Leadership Artificial Intelligence MCA Technology Others Operations Management Data Science Project Management Finance PGDM Data Science Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details The objective is to verify whether the PoHW applications were disposed of in accordance with the Supreme Court's directive dated November 4, 2022. The move to audit PoHW applications comes after a directive from the ministry of labour and employment and a recommendation by the Pension & EDLI Implementation Committee (PEIC). "The disposal of PoHW applications pertaining to the exempted establishments may be audited at an early stage, as the disposal of such cases would have been predominantly based on the applicable Trust Rules," it said, adding that the cases of validation option can also be audited initially. It said, "This strategy would allow a significant portion of the overall audit workload to be efficiently addressed on priority." As on July 16, 2025, the EPFO had disposed of over 98.5% of the applications for pension on higher wages, Shobha Karandlage, minister of state for labour and employment, said recently in response to a question in Lok Sabha. Out of the 1.524 million applications received, the retirement fund body has issued a demand draft to 400,000 applicants eligible for high pension and rejected over 1.1 million applications, while 21,995 applications are pending, she had said. In its notification, the EPFO has directed all zonal offices to verify key points such as delay in issuance of demand letters, if any; delay and correctness in the issuance of pension payment orders (PPOs) and disbursement of arrears and pension, among others.
Time of India
a day ago
- Business
- Time of India
Want to know about PM's Rozgar Yojana, ask EPFO
Ludhiana: An interactive session on the PM Viksit Bharat Rozgar Yojana (PM-VBRY) was conducted by the Employees' Provident Fund Organisation (EPFO) at the CICU Complex here Tuesday. Tired of too many ads? go ad free now The aim of the event was to create awareness among employers and employees about the benefits and incentives offered under the scheme, which is part of the Centre's broader vision to promote formal employment and economic development. Paritosh Deep Singh Sekhon, regional provident fund commissioner-II, was the chief guest at the session. He was joined by assistant PF commissioner Armaan and other senior officers from the EPFO regional office. Addressing the gathering, Sekhon elaborated on the features of the PM-VBRY scheme, which seeks to boost formal job creation by subsidising the EPF contributions for new employees. He urged all employers and employees to take full advantage of the scheme, which is being positioned as a key pillar in the Prime Minister's mission for a Viksit Bharat. EPFO officials gave a detailed presentation on the eligibility criteria, application process, and incentive structure under PM-VBRY. The scheme covers first-time EPFO-registered employees earning up to Rs 1 lakh per month and offers them financial incentives disbursed in two instalments— after six months and after one year, subject to completion of service and financial literacy training. The session saw active participation from local industry representatives and HR professionals, many of whom sought clarity on the operational aspects of the scheme. Tired of too many ads? go ad free now PMVBRY will be implemented from August 1, 2025, and will continue until July 31, 2027. Sekhon concluded the session by encouraging all stakeholders to register and participate actively, stating that timely adoption of the scheme could significantly boost formal employment in Punjab and across India. BOX KNOW THE SCHEME PM Viksit Bharat Rozgar Yojana (PM-VBRY) covers first-time EPFO-registered employees earning up to Rs 1 lakh per month It offers them financial incentives disbursed in two instalments — after six months and after one year, subject to completion of service and financial literacy training The scheme will be implemented from Aug 1, 2025, and will continue until July 31, 2027
Time of India
2 days ago
- Business
- Time of India
EPF withdrawal claim: Do you need to submit any documents while withdrawing money from your EPF account?
Many EPF members are confused whether they are required to submit any documentary evidence while submitting an EPF withdrawal claim to the EPFO. The government has provided the answer to this query in the current parliament session. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Employee PF withdrawal rules allow provident fund members to withdraw money for education, marriage, buying a house, illness and other purposes. Many EPF members are confused whether they are required to submit any documentary evidence while submitting an EPF withdrawal claim to the EPFO. The government has provided the answer to this query in the current parliament session. According to the government, 'No document substantiating the claim is required to be submitted to the EPFO offices.'The Ministry of Labour and Employment (EPFO) responded to questions raised in the Lok Sabha by providing insights on EPFO's efforts to streamline claim processes, enhance transparency, and reduce rejections. ET Wealth Online breaks down the government's official response to key questions below on EPFO claim rejections Members of Parliament Vijayakumar alias Vijay Vasanth, Manickam Tagore B, Suresh Kumar Shetkar asked the following questions on EPFO claim rejection issues faced by details of the rationale behind the EPFO's decision to allow employees to self-declare reasons for partial withdrawals from their provident fund accounts, and the manner in which they impact the authenticity of government replied in Parliament and said the composite claim Form introduced in 2017 aims to rationalize the process of claiming advances/partial & final withdrawals by relying on 'self-certification' for this purpose reposing trust in the member. Accordingly, no document substantiating the claim is required to be submitted to the EPFO government replied to the aforementioned question in Parliament and said, 'In the new simplified settlement process the requirement of uploading the image of the cheque leaf/pass book was removed on 03.04.2025. The claims rejected due to poor quality document uploads for ensuring KYC/identity with regard to bank account has significantly reduced. Over 1.9 Crore members have benefited from the simplified process since 22.07.2025.'The government responded in Parliament and said all claims are filed only after a member account is activated using Aadhaar OTP or face authentication. All payments pursuant to claim settlement are sent to bank accounts directly verified with the concerned bank to ensure credit to member account only. A system of concurrent audit is being undertaken followed by internal audit as well as statutory audit to monitor any process government responded in Parliament and said process simplification has been done to increase auto settlement of advance claims. The reasons for claim return/rejections have been rationalized reducing the existing 44 reasons to 18 reasons. A remarks column to facilitate entering of description of any other reason has also been government in Parliament replied: Under the revised procedure, the members whose Universal Account Number (UAN) has already been validated through Aadhaar can update their profile online like name, date of birth, gender, father/mother's name, marital status, spouse name etc. without any approval from employer or EPFO. This has resulted in facilitating the member to carry out self -corrections and removing errors in profile data which leads to easier claim government in Parliament replied: The auto settlement of claims processing limit under Paragraph 68J (Illness) of the EPF Scheme was enhanced from Rs 50,000/- to Rs 1 Lakh in April 2024. Subsequently, advances/withdrawals for Housing and Marriage have also been included under the auto-settlement of claim facility and the limit of all such advances/withdrawals has been increased from Rs 1 lakh to Rs 5 lakh with a view to facilitate more members availing speedy settlements. Claims under auto settlement process are settled within 3 days of receipt.
