EPFO UPDATE: Now PF of up to 1 lakh will come out of auto-mode, know who will get benefit

News India Live, Digital Desk: EPFO Update: Provident Fund (PF) is their lifetime and the biggest support for jobs. This money is used in difficult times, such as disease, children’s marriage, studies or dreams of building a house. But when sudden money is required, the process of withdrawing money from PF used to take a long time, causing problems to people.

But now, the Employees Provident Fund Organization (EPFO) has made this process very fast and easy by giving a major relief to crores of PF members.

What is this big change?

EPFO Auto-Mode Claim Settlement Increased limit from Rs 50,000 to Rs. 1 lakh rupees Is done.

This simply means that now you claim to withdraw advance PF of up to Rs 1 lakh for certain needs (eg home, children’s wedding or education), then your money without any human intervention (manual check) 3 to 4 days Will come directly inside your bank account.

How does this ‘auto-mode’ system work?

It is a completely computerized system. When you claim online, EPFO’s IT system itself checks your KYC and other details. If everything is found to be correct, the claim passes automatically (automatically) and the money is sent directly to your bank account. In this, no officer needs to see your file, which makes the process very fast.

Most important condition: Your KYC should be fulfilled

The most important condition to take advantage of this fast facility is that your PF account is completely KYC-Compliance. This means:

• Yours Aadhar card Should be linked to UAN.

• Yours PAN card Should be updated.

• Yours Bank account Must be connected to verified and UAN.

If there is any deficiency in your KYC, then your claim will reject from the auto-mode and go for a manual examination, which will take more time as before.

What will be the benefit of this change?

• Will get help soon: Now in emergency you will not have to wait long for money.

• Reduced trouble: The hassle of repeated rounds of office or checking the claim will be reduced.

• Transparency: Transparency has increased due to the entire process being digital.

Overall, this step of EPFO ​​is a major relief for millions of PF members, which will provide them financial help at the time of need. Therefore, it is very important that you always keep your KYC details updated in your PF account so that you can take full advantage of this facility.

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