EPFO Rule Change: Big change in EPFO rules, now nominee will get money easily
Employees' Provident Fund Organization (EPFO) has announced important changes for PF account holders. EPFO has updated the death claim for PF accounts, according to a new circular. Under the revised rules, if an EPFO member dies and their PF account is not linked to Aadhaar, or if their Aadhaar card details do not match the details in the PF account, the nominee will still be able to withdraw the money from the account. will receive. This change simplifies death claim settlement.
EPFO said regional authorities faced several problems in linking and verifying Aadhaar details on the death of EPF members. As a result, there is a delay in payment to the nominees making them wait for their funds.
EPFO said that since it is not possible to correct Aadhaar details posthumously, payment to the nominee will now be based on physical verification. However, this will require approval from the regional officer.
The PF amount will be paid to the nominated person as soon as the approval of the regional officer is received. Additionally, EPFO has emphasized on measures to prevent fraud by ensuring thorough verification of the identity of the nominee or family member under the new rules.
PF payment will be made in circumstances where the Aadhaar details of the PF account holder are incorrect. If the member's information along with EPFO UAN is incorrect, a different procedure will have to be followed to process the payment.
In cases where the PF account holder has not nominated any beneficiary and he dies, the PF amount will be paid to the legal heir of the deceased person. The heir will have to provide his Aadhar card for the claim.
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