"Is it mandatory to have a single name Bank account to withdraw PF amount. It has been told to one employee after his resignation to open a fresh Bank account to his name since he is having a joint account with his wife who is eventually his nominee also. The authority have also asked this gentleman to open a bank account either with SBI or PNB as the authority will not entertain the account with any other Bank even if a single name account is opened. Could any body please highlight on the issue."
I have one more query if the employer failed to rectify the name and date of birth of an employee for almost last 10 years what action can be taken by the employee.
Thanks & regards
From India, Kolkata
9I have one more query if the employer failed to rectify the name and date of birth of an employee for almost last 10 years what action can be taken by the employee.
Thanks & regards
From India, Kolkata
To claim the funds from the EPF you should have single name. No joint accounts are entertained for claims. There is no any rule stating you should have account only with SBI or PNB. All that they need is a bank account & in can be from any nationalised or even the private banks such as HDFC, ICICI or Axis
From India, Bangalore
From India, Bangalore
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Online payment of PF mandatory from 1.1.2016.pdf