HomeCURRENT AFFAIRSBUSINESSEPFO Updates: EPF Amount Not Settled in 20 Days? Here's What To...

EPFO Updates: EPF Amount Not Settled in 20 Days? Here’s What To Do

EPFO Updates: According to the law, Employees’ Provident Fund Amounts must be settled within a span of 20 days. In the event this does not happen, the employee can approach the Regional PF Commissioner.

The Employees’ Provident Fund Organisation also recommends filing an online complaint on the website using the EPFiGMS feature in the Section ‘For Employees’.

Members can log any complaint related to their EPF accounts on the EPFiGMS portal or do it via the UMAG app.

If the employee does not wish to file the complaint online, he can appear before the commissioner in the ‘Nidhi Apke Nikat’ programme that is conducted on the 10th of every month.

An EPF member can apply for withdrawal of the amount at any time unless he has resigned from the establishment. In case the member has resigned from service, he must wait for two months for withdrawal of the provident fund.

An important thing to note is that if the establishment has its own recognised private PF Trust, he may be allowed to continue in the private PF Trust without having the need to join the EPFO.

The retirement fund body allows an employee to join a private PF Trust but the Trust must take an exemption from the EPF scheme. The member will still be governed by the Pension and EDLI Scheme.

The Employees Deposit Linked Insurance Scheme (EDLI) is an insurance cover provided by the EPFO to its members from private sector salaried employees. As per the scheme, the registered employee is entitled to receive a lump-sum payment in the event of the death of the person insured, during the period of the service.

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