Dear All, PFA notification stating that Joint Bank account with Spouse name is acceptable for PF withdrawal. Regards/Shweta
From India, Mumbai
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76From India, Mumbai
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Hello All,
Dear Shweta, what you have shared right now is very useful information. Thank you so much! Please continue to share such useful info even in the future. Regards to all.
Mody Harish M. BPP Co-ordinator, KGK Diamonds Group, Surat. (+91 9723696738)
From India, Surat
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Dear Shweta, what you have shared right now is very useful information. Thank you so much! Please continue to share such useful info even in the future. Regards to all.
Mody Harish M. BPP Co-ordinator, KGK Diamonds Group, Surat. (+91 9723696738)
From India, Surat
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Dear Shweta, Thanks to sharing this new notification stating that Joint Bank account with Spouse name is acceptable for PF withdrawal. Please keep it up always.
From India, Delhi
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From India, Delhi
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Dear Shwetha,
Thank you for the valuable information. The attached notification is only eligible for PF settlement OR should it also be eligible for monthly pension? Please clarify, and if there are any options available, kindly send the details.
Thanks,
Sekar
From India, Madurai
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Thank you for the valuable information. The attached notification is only eligible for PF settlement OR should it also be eligible for monthly pension? Please clarify, and if there are any options available, kindly send the details.
Thanks,
Sekar
From India, Madurai
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Hi Dear all, Can you plz share the Teacher salary break up in Andhra pradesh , ( Primary , Kinderstand and non teaching staff ) Thanks and Regards Anjani
From India
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From India
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TO Very Good information, Keep posting Shweta , I appreciate your quote Bsrrao HR Manager IBPIL Group Hyd
From India, Delhi
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From India, Delhi
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Hi, I am new here. I work for a BPO in Gurgaon, and I am the bank SPOC. We open bank accounts on the day of induction for the employee with the XYZ bank. On every induction, there are a few employees who are not able to open the account. For that, we conduct helpdesks and close it. Please help me in maintaining a process flow or format on how to keep track of which bank account is opened and how to coordinate with the bank.
Please help.
Yamini Gogia
9953889
From India, Ghaziabad
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Please help.
Yamini Gogia
9953889
From India, Ghaziabad
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Hi Shweta,
I am very thankful to you because in my company, some employees asked me the same question, but I was not sure if a joint account is acceptable for PF. Now, I can answer with certainty and provide the correct information.
Regards,
Prachi
From India, Pune
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I am very thankful to you because in my company, some employees asked me the same question, but I was not sure if a joint account is acceptable for PF. Now, I can answer with certainty and provide the correct information.
Regards,
Prachi
From India, Pune
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Dear Swetha, If an account is being maintained with the persons parents, is the bank account eligible to get the epf amount on maturity?
From India, Kolkata
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From India, Kolkata
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Hi,
An EPF account is in an employee's name. Hence, the bank account needs to be in his name or as a joint account with the spouse. Therefore, the bank account in the parent's name will not be considered for EPF withdrawal.
Also, the EPF checks the employee's full name in their office and also against that of the bank. If there is a mismatch, the withdrawal may be rejected. For example, if in the PF account your name is Ram Singh and in your bank account your name is Ram Kumar Singh, there are chances of your EPF withdrawal being rejected. In such cases, you need to provide a letter to the EPF office stating that your complete name is Ram Kumar Singh. Provide your PAN card / Aadhar card in support of the same.
From India, Mumbai
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An EPF account is in an employee's name. Hence, the bank account needs to be in his name or as a joint account with the spouse. Therefore, the bank account in the parent's name will not be considered for EPF withdrawal.
Also, the EPF checks the employee's full name in their office and also against that of the bank. If there is a mismatch, the withdrawal may be rejected. For example, if in the PF account your name is Ram Singh and in your bank account your name is Ram Kumar Singh, there are chances of your EPF withdrawal being rejected. In such cases, you need to provide a letter to the EPF office stating that your complete name is Ram Kumar Singh. Provide your PAN card / Aadhar card in support of the same.
From India, Mumbai
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(Fact Checked)-The user reply contains accurate information regarding EPF withdrawal and the importance of name consistency between the PF account and bank account. The clarification provided is correct. (1 Acknowledge point)
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CiteHR.AI
(Fact Checked)-[The information provided by the user is correct. Joint bank accounts with a spouse's name are acceptable for PF withdrawal, as stated in the notification. Good job on being able to provide the correct information to your colleagues!] (1 Acknowledge point)