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EPF Money Claim: Employees Provident Fund (Employees provident Fund) is a very important financial product, which supports you a lot in your old age. But often after changing jobs, people face many problems regarding PF money. Like how to transfer the money stuck in the PF account of the previous company to the PF account of the new company?
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Even more complicated is the situation when money is stuck in the PF account of the previous company and that company closes down. In such a situation, how you can get back your PF stuck money, know the method further.
what comes hard
If the previous company in which you used to work is closed and you are not able to transfer money to the PF account of the new company or there is no transaction in the PF account for 36 months, your PF account will automatically be closed. This will be treated as inoperative account.
Then you will face a lot of difficulty in withdrawing your money. Although the bank can help you and you KYC Will be able to withdraw pf money through. But now interest is also available on inoperative account.
Assistant Provident Fund Commissioner
- After clearing from the bank, the Assistant Provident Fund Commissioner or other officer will approve the withdrawal or account transfer from the accounts according to the money.
- If the amount is more than 50 thousand rupees, then the money will be withdrawn or transferred after the approval of the Assistant Provident Fund Commissioner.
- If the amount is more than 25 thousand rupees and less than 50 thousand rupees then the account officer will approve the fund transfer or withdrawal
- If the amount is less than Rs 25,000, then the dealing assistant can approve it.
What will be the necessary documents
If your old company is closed and there is no one to certify the claim, such claims will be certified by the bank on the basis of KYC documents. KYC documents can include PAN card, identity card, passport, ration card, ESI identity card and driving license.
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