PF Retirement Fund to Soon Feature ‘Auto-Withdrawal’
The EPFO is taking measures to enable the payment of PF final settlements—specifically those under Rs 5 lakh—through an ‘auto-mode’ mechanism. Under this auto-mode system, if a request to withdraw funds from a PF account is submitted online via the PF portal, the money will be credited directly into the beneficiary's bank account, eliminating the need for any human intervention. Currently, this system applies only to advance claims; however, it is now set to be extended to cover final settlements as well.
You Might Also Like
-
The Indian Space Research Organisation (ISRO) is making preparations for the launch of the GSLV-F...
-
In the wake of developments in West Asia that have led to shortages of natural gas, LPG, and urea...
Leave A Comment
Comments