The world of provident fund (PF) is continually evolving. With these changes, it becomes crucial for employers and employees to be updated. In this guide, we will walk you through the latest updates related to PF money and the necessary documents required for PF.
Table of Contents
Understanding Provident Fund (PF)
The Provident Fund (PF) is a government-backed investment instrument that promotes savings among the workforce. It is mandatory for organizations with more than 20 employees to register with the Employees’ Provident Fund Organization (EPFO). Both the employer and the employee contribute an equal amount to the PF.
Latest PF Money Updates
The Employees Provident Fund Organization (EPFO) has recently released the Universal Account Number (UAN) of members and employers. It urges all parties to update their information on the EPFO account correctly, failing which the provident fund money could become unusable.
The Changes in Document Requirement
In line with the PF money new updates, the EPFO has modified the list of documents necessary for correcting mistakes in the UAN profiles. The changes are a part of the revised Standard Operating Procedure (SOP) notification dated March 11, 2024.
Required Documents For Updating UAN Profile
For updating the UAN profile, the following documents are required:
- Aadhaar card in the name of the member’s father/mother
- PAN card
- 10th or 12th mark sheet in the name of the father/mother
- Driving license
The documents needed for correcting the UAN profiles include:
- Name of member
- Gender
- Date of birth
- Aadhaar number
- Marital status
- Father/Mother’s Name
Documentation Requirements for Corrections in Personal Records
For corrections in personal records, different sets of documents are required. These documents must be procured and updated to avoid any delay or rejection of PF claims.
Corrections in Father’s or Mother’s Name
For the correction in father’s or mother’s name, the necessary documents include:
- Father/Mother’s passport
- Ration Card/PDS Card
- Pension Card
- Birth Certificate
- Government issued marriage certificate
- Photo identity card issued by Central/State Government
- CGHS/ECHS/Medi-Claim Card/PSU Card with photograph issued by Central/State Government
Corrections in Date of Birth
To correct the date of birth, the following documents are needed:
- Birth certificate issued by the Registrar of Births and Deaths
- Marksheet issued by a recognized government board or university
- School Leaving Certificate (SLC)/School Transfer Certificate (TC)/SSC
Corrections in Name and Date of Birth
For corrections in name and date of birth together, these documents are necessary:
- Passport
- PAN of IT Department
- CGHS/ECHS/Medi-claim card issued by Central/State/UT Government
- Residence certificate issued by the government
- Certificate based on service record of Central/State Government
- Medical certificate in the absence of proof of date of birth
- Central/State Pension Payment Order
Corrections in Name and Gender
For corrections in name and gender, these documents can be used:
- Death certificate
- Birth Certificate
- Driving License
- Aadhaar (mandatory)
- School Leaving Certificate (SLC)/School Transfer Certificate (TC)/SSC Board/University issued certificate/Marksheet containing name and
- Bank pass book with name and photo crossed
- Passport
- Service photo identity card issued by Central Government/State Government/Union Territory Government
- PSU/Bank
Corrections in Marital Status
For corrections in marital status, these documents are required:
- Aadhaar Card
- Divorce decree
- Passport
- Marriage certificate issued by the government
Avoiding Rejection of EPF Withdrawal Claim
Many individuals face challenges in getting their EPF money at the time of withdrawal. The reason for rejection of their EPF claim is often due to mismatch in the details available in the EPFO records and the EPF account holders’ PAN, Aadhaar or incomplete KYC records. To avoid rejection of your EPF claim, it is crucial to ensure that your records align with the EPFO’s.
Checking Information on EPFO Portal
Before filing any EPF claim, you should check certain information on the EPFO’s Member Sewa portal. This includes past employment details, Universal Account Number (UAN), relevant bank account details, ID & address proofs, and nomination details.
Steps to Take Before Filing EPF Claim
Once the information on the EPFO portal is correctly updated, take the following steps before filing a claim:
- Choose the appropriate form for your claim type and fill it accurately
- Check the eligibility criteria for EPF withdrawal
- Make sure the form is filled completely and accurately
- Attach all necessary documents such as a cancelled cheque, ID proof, address proof
- Update the Know Your Customer (KYC) details such as Aadhaar, PAN and bank account details and link it with the EPF account
- Ensure nomination and member profile is updated
Fast-Tracking the EPF Claim
While the EPFO aims to process the withdrawal claims within 20 days from the date of submission, this timeline is not guaranteed. However, by ensuring that your details in the EPFO records match with your PAN, Aadhaar and other supporting documents, and that your KYC & nomination is complete and updated, you can facilitate a seamless claim process.
Wrapping Up
The process of managing your PF account and keeping up with PF money new updates can be challenging. However, with a clear understanding of the required documents for PF, you can ensure a smooth and efficient PF withdrawal process. Stay informed, stay updated, and make the most of your PF benefits.
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