As the whole nation is under Coronavirus lockdown, people may have to face monetary crisis once the lockdown is removed. So, in view of such a problem, the Central Government has relaxed the Employees’ Provident Fund Organisation (EPFO) withdrawal norms. Now a PF or EPF account holder can withdraw three month basic salary plus DA or 75 per cent of the EPF balance (whichever is less). However, there are some cases where people are still waiting for the credit of their PF withdrawal amount. According to tax and investment experts, if it’s more than two weeks of PF withdrawal request, then they need to cross-check at the official website of the EPFO epfindia.gov.in.
Speaking on the PF withdrawal for Covid-19; Kartik Jhaveri, Director — Wealth Management at Transcend Consultants said, “Check your PF withdrawal status online by logging onto the official website of the EPFO — epfindia.gov.in. If it is rejected, the reason for rejection will also mentioned there. So, they need to rectify that and again put request for PF withdrawal.” He said that in majority of the cases, PF withdrawal online gets rejected due to the lack of PF account KYC. He said PF advance online request can be done if your UAN is validated with Aadhaar and KYC of Bank account and Mobile number is seeded in UAN. If not done, you will need to complete your KYC by submitting same on Member Portal.
For submitting your PF withdrawal for Covid-19 claim online your Aadhaar linked mobile will get OTP. So your Aadhaar should be linked with a mobile. If your basic details such as name, date of birth and gender against UAN are same as that in Aadhaar, you can link your Aadhaar through eKYC Portal.
Manikaran Singhal, a SEBI registered tax and investment expert said that PF withdrawal online claim gets rejected for not uploading the cancelled cheque as well citing, “If you are not having a cheque book leaf for uploading while filing online claims the front page of bank passbook pertaining to bank account seeded with your UAN can be uploaded. This page should clearly reflect your name, account number, bank, branch and IFSC code.”