EPFO Rule: You can establish a substantial fund via the Employees’ Provident Fund Organization (EPFO). Even though the EPFO scheme comes to maturity upon retirement. However, in numerous situations, you are allowed to make a partial withdrawal from the PF fund.
Rules for the claim process have been revised by EPFO
The rules for the claim process have been revised by EPFO. The procedure for claiming PF has become simpler now. Indeed, Aadhaar is no longer necessary for claiming. Nonetheless, these regulations have been modified solely for specific members. Please inform us about the members for whom this rule has been altered. Under the new regulations, this will advantage employees who lack an Aadhaar card.
EPFO has provided exemption for registered international workers
In fact, workers in this category can effortlessly connect their Universal Account Number (UAN) to Aadhaar, even if they do not possess an Aadhaar card. EPFO has provided exemption for registered international workers. These are the employees who previously worked in India for a period, but subsequently returned to their home country. As they were not Indians, they lack an Aadhaar card. As per the new EPFO regulation, ex-Indian nationals who migrated overseas, similar to citizens of Nepal and Bhutan, will gain from this rule.
Can claim PF using various documents
International employees who are registered can claim PF using various documents. They can utilize verification documents such as a passport, citizenship certificate, or any form of official identification. In addition to this, validation will also be conducted via PAN card and bank account statement. For claims exceeding Rs 5 lakh, the member must also obtain verification from the employer. According to the EPFO claim regulations, each claim request will initially be thoroughly examined by the officer. Subsequently, the e-office document will receive approval from the Officer-in-Charge (OIC).
The claim process will proceed only after this approval is granted. The EPFO also recommends that employees consistently maintain the same UAN number.