PF or Provident Fund is an important means of saving for every employed person. 12% of your salary is deposited in the PF account every month and the company also contributes the same amount.
This money not only serves as savings for the future, but can also be withdrawn when needed. EPFO has provided many easy online facilities to withdraw money, but often people make some mistakes while claiming, due to which their claim gets rejected. Such as KYC not being complete, filling incorrect information or incorrect documents.
Due to these small mistakes, your money can get stuck. Therefore, it is very important to keep these things in mind before claiming PF so that you do not have to face any kind of problem.
Why does PF claim get rejected?
To withdraw PF money, it is necessary to follow the rules of EPFO. But if any of these rules are not followed or any wrong information is given, then your claim may be rejected. Let us know what are the mistakes that cause claim rejection.
1. KYC not complete
If the KYC of your PF account is not complete, then your claim may be rejected. According to the rules of EPFO, it is necessary to update the information of bank account, PAN and Aadhaar. You can update it by visiting the EPFO member e-service portal.
2. Wrong date of birth
If the date of birth recorded in your PF account and the date of birth recorded in the records of your employer (company) are different, then this can also become a big reason for your claim being rejected. To correct this mistake, you will have to upload your documents on the EPFO portal.
3. Wrong bank details
If you have entered wrong bank account number or IFSC code while making a claim, your money will not be transferred and the claim will be rejected. So check your bank details properly before making a claim.
4. Documents not being clear
During claim processing, a copy of the bank passbook or cheque has to be attached. If this copy is not clear or correct, then EPFO can reject your claim. So make sure to scan the documents and upload them in a clear format.
5. Not following the rules
EPFO has laid down some conditions, only under which PF money can be withdrawn. If you have made a claim without any need or without following the rules, then it may get rejected.
How to avoid these mistakes?
- Update KYC and fill all the information correctly.
- Match the date of birth and other details with the employer’s records.
- Double check the bank details before filling the claim form.
- Upload clear and correct documents while making a claim.
