He was told he could withdraw the VPF anytime after a five-year lock-in period. Fast-forward to 2025, and he needed to withdraw funds to purchase a flat. To his surprise, there was no separate VPF accounting in his account. He could only see his EPF balance, and withdrawals, too, had limitations. “It is a misconception … Read more
Long queues, time-consuming documentation, rejections in requests, and constant delays, these are typically the images that come to mind when one considers taking advantage of your Employees’ Provident Fund (EPFO) corpus in India. All of this could be a thing of the past soon. Union Labour Minister Mansukh Mandaviya made the announcement of the imminent … Read more
The Employees’ Provident Fund Organization (EPFO) has revised the rules for updating the profile of the members. With the recent revision, EPF members can update their Aadhaar-linked Universal Account Numbers (UAN) with personal details without the need to upload documents. EPF members can update their profiles with personal information such as name, date of birth, … Read more
Some people who applied for it after the Supreme Court order in November 2022 are still waiting for the Employees’ Provident Fund Organisation (EPFO) to accept their applications. Though, according to a 26 February statement, the EPFO aims to process all applications by 31 March 2025, employees continue to question the methodology for calculating the … Read more
The government is considering to introduce the Employees’ Provident Fund (EPF) claims settlement option via the United Payment Interface (UPI) to ease the fund withdrawal process. EPF withdrawal is daunting for employees, who often fail to get their savings due to claim rejections. According to the EPF annual report released in 2024, one in every … Read more