Major changes in PF Rules 2020 | New PF Rules | PF Benefits

Major changes in PF Rules 2020 | New PF Rules | PF Benefits
These major changes in PF rules in the year 2020, know what will benefit you ?

Employees do not know about the changes in their Provident Fund (PF). Also, it is important to know how to deduct PF from your salary, but they are not updated with the new rules related to it. EPFO has made several changes in PF rules this year so that PF subscribers can take advantage of this.

Employees’ Provident Fund (EPFO) is a savings option that is usually initiated by an individual at the beginning of the first job. In EPF account, 12.5% ​​of salary is contributed through both Employee and Employer. Employees’ Provident Fund (EPFO) is a savings option that is usually initiated by an individual at the beginning of the first job. In EPF account, 12.5% ​​of salary is contributed through both Employee and Employer. There are many employees who do not know about the changes in their provident fund. Also, it is important to know how to deduct PF from your salary, but they are not updated with the new rules related to it. EPFO has made several changes in PF rules this year so that PF subscribers can take advantage of this

Can i Withdraw PF Amount Offline ?

The EPFO ​​has made some changes in its rules regarding PF Amount and after this new provision you can no longer withdraw your money offline from PF. After the rule, you will not be able to withdraw money from PF manually i.e. offline mode, but here some conditions and rules are also applicable for you. If your Aadhaar number is linked to the Universal Account Number (UAN) of EPFO, then you will not be able to claim offline for withdrawal of PF. The EPFO ​​has refused to accept the offline claim in such a case. This means that if your Aadhaar is linked to UAN, then you have to claim online to get PF.

Only online claim will be settled

The EPFO has changed another rule to withdraw money. After this rule, you will not be able to manually remove PF from offline mode. Now EPFO will accept the claim form online.

Online facility to get UAN

EPFO has now introduced online facility for formal sector employees to get Universal Account Number (UAN). With this, employees will be able to get UAN by themselves online and for this they will not have to depend on their employer. Now it can be made on its own from the EPFO website.

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