EPF Withdrawal: Know this fact for a hassle free transaction to get your money
If the member details pertaining to previous employment are completely available in EPFO database, he/she can submit the claim through either of the employers and the process for settlement would involve similar steps after the claim has been attested by the employer
EPF Withdrawal: Are you planning to withdraw your Employees' Provident Fund (EPF) money, but are in a fix regarding who to submit your claim to for attestation as both your previous and present employers have registered digital signatures on the Online Transfer Claim Portal (OTCP) portal of EPFO? Worry not, here is everything you need to do to get your money in hand.
EPFO allows a member to submit his claim to either of the employers for attestation. If the member details pertaining to previous employment are completely available in EPFO database, he/she can submit the claim through either of the employers and the process for settlement would involve similar steps after the claim has been attested by the employer.
But, you should note this important point if your details pertaining to previous employment are not completely available on the EPFO database. In such as situation, when the details of your previous employment are not updated in EPFO portal, it is advisable to submit your claim to the previous employer for quicker settlement.
This is because all your details with the previous employment would get verified along with the attestation of the claim by previous employer before your claims are settled.
In case, if you have submitted your claim through the present employer, the verification task of the member details with the previous employment would be sent to the previous employer in addition to the claim attestation by the present employer, which might take relatively more time.
As a member, you have the option of submitting your claim through either of the employers, but the former option will expedite the claim settlement process.
Also, note that if only your previous employer has registered digital signatures on the OTCP portal of EPFO, then you can file your claim only through the previous employer.
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EPFO is one of the World's largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken. At present it maintains 19.34 crore accounts (Annual Report 2016-17) pertaining to its members," as per EPFO website.
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