Finally EPFO ( Employee Provident Fund Organization) has introduced EPF online payment methods for all PF , Pension and EDLI claims. This system is going to benefit more than 4.5 crore EPF subscribers and 54 lakh pensioners. As per this latest implementations in PF claims, all claims will be settled with in Ten days from the date of submission of claim and the government of India has also made it mandatory to settle EPF claims with in 10 days.
EPF Online Payment Benefits
Now Payment of EPF benefits, pension disbursement and insurance claims to the beneficiaries will be made through electronic transfer or digital fund transfer only.
EPF online payment will ensure quick transfer of funds and easier tracking.
Amendments will be made to all the 3 social security schemes like EPF, Pension and EDLI schemes according to EPF online payment.
As we known earlier there are nearly 4.5 crore EPF subsribers and 54 lakh pensioners are going to get benefits through this digital payment transfer process.
Short Notes On How To Avail EPF Online Payment Benefits
In order to avail EPF online payment benefits the KYC like aadhaar card, bank account number and PAN card of every EPF subscriber will be linked with UAN number of employee, other wise EPF subscribers can’t able to avail these benefits. But before that UAN number of the EPF subscribers must be activated at uan member portal.
KYC must be approved by employers with their digital signatures. After updating KYC details of employees it is the responsibility of employer to approve KYC details of employees with their digital signature. Other wise EPF subscribers can’t able to avail all the benefits. All these new implementations are coming under digital India scheme of Indian government.