EPFO also clarified that ECR and internet banking payment process will continue. Employers who are unable to pay old EPF dues, can pay the old dues of employees through demand draft i.e. DD in one go.
EPFO Update: There is a relief news for the employees of the Employees Provident Fund Organization. EPFO has given a big relief regarding the payment of old dues i.e. stuck money. Now those employers who are unable to pay EPF dues through ECR process due to technical reasons. They will be able to make payment through demand draft (DD) for one time.
According to media reports, employers often face problems in the process of filing ECR, which leads to delay in payment and later penalty is also imposed, in such a situation, now EPFO has solved the problem of employers, in which they were claiming that due to technical reasons they are unable to pay old EPF dues to their employees. EPFO said that such employers can pay the old dues of employees through demand draft i.e. DD in one go.
EPFO: Demand draft opportunity will be available only once
EPFO also clarified that ECR and internet banking payment process will remain. Employers can choose to pay old dues to their employees through DD only once. Internet banking will have to be used to make payments in future. DD will be made in the name of PFC-in-Charge, it will be payable in the same bank branch where the local office of EPFO is present.
What changes has EPFO made in the rules?
- Now there will be no need to upload canceled cheque or passbook while filing the claim.
- The employee will not need the approval of the employer i.e. the company owner to verify his bank account. His PF account will be verified through Aadhaar OTP.
- If the user wants to change the bank account linked to EPF, then he will be able to verify it himself through OTP by entering the details of the new bank account.
- To simplify the process of linking bank accounts with UAN, EPFO has now removed the requirement of employer approval after bank verification. Currently, every member is required to link his bank account with UAN so that his PF withdrawals can be credited seamlessly to such account.
- Since the name of the bank account holder is already verified with the EPF member details at the time of linking bank account with Universal Account Number (UAN), this additional document is no longer required.
- EPFO has launched Umang App to generate and activate Universal Account Number (UAN) through which employees can automatically generate their UAN using Aadhaar face authentication technology. Removal of this requirement will provide immediate benefit to about 6 crore members of EPFO.
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