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8th Pay Commission
Finance
8th Pay Commission Salary Calculator – DA, HRA & Govt Pay Structure
Sasmita Apr 4, 2025 0

The upcoming 8th Pay Commission is set to bring changes to the salary structure of central government employees. While Dearness…

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The Employees' Provident Fund Organisation (EPFO) has introduced a significant change to the provident fund (PF) withdrawal process, making it more convenient for its members. This update eliminates the need for a cancelled cheque and employer-verified bank account details, ensuring a hassle-free experience. Key Highlights of EPFO's New Withdrawal Process No Cancelled Cheque Requirement – Previously, members had to upload a cancelled cheque for verification. This requirement has now been removed. Bank Account Verification Not Needed – Earlier, bank details needed verification from employers. Now, this step is unnecessary as bank details are verified at the time of UAN (Universal Account Number) seeding. Faster Claim Settlement – With these simplified steps, claim settlements are expected to be processed more efficiently, reducing delays and grievances. Auto-Mode Claim Processing – EPFO has introduced an auto-mode settlement for advance claims up to ₹1 lakh, ensuring quick disbursals. Pilot Success Leads to Expansion – The relaxation was first tested for a set of KYC-compliant members. After its success, it has been extended to all EPFO members. Benefits of the New EPFO Withdrawal Rules Smoother Withdrawal Process – With fewer documentation requirements, members can withdraw their PF funds more easily. Reduced Claim Rejections – Eliminating the need for document uploads minimizes errors and claim rejections. Improved Efficiency – Faster claim processing means members receive their funds in less time. Employer Hassle Reduced – Employers no longer need to verify bank details, easing their administrative burden. How to Withdraw PF Without Cancelled Cheque? Login to the EPFO Member Portal – Visit the official EPFO website and log in using your UAN and password. Go to ‘Online Services’ – Select the 'Claim (Form-31, 19, 10C & 10D)' option. Enter Bank Details – Ensure your registered bank account details are correct. Submit the Claim – Complete the necessary details and submit your request. Track Your Claim Status – Monitor the claim status through the EPFO portal. Final Thoughts EPFO’s latest initiative aims to enhance the ease of living for employees and streamline the withdrawal process. By removing unnecessary documentation, the organization is making fund access quicker and more efficient for its members. Stay updated with the latest EPFO news and guidelines to make the most of your provident fund benefits. Keywords: EPFO Fund Withdrawal, Cancelled Cheque Not Required, EPFO Bank Verification, PF Withdrawal Online, EPFO Latest News, UAN PF Withdrawal
Finance Latest News
Good News! EPFO Fund Withdrawal Made Easy – No Cancelled Cheque or Bank Verification Required
Sasmita Apr 4, 2025 0

The Employees’ Provident Fund Organisation (EPFO) has introduced a significant change to the provident fund (PF) withdrawal process, making it…

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Tariff-on-India
Politics
Trump Pressures ‘Friend’ Modi With 26% Tariff on India – Impact & Analysis
Sasmita Apr 3, 2025 0

The trade relationship between the United States and India has witnessed several ups and downs. In a significant move, former…

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HDFC Bank and Yes Bank have reduced their FD interest rates
Finance Latest News
HDFC Bank, Yes Bank Cut FD Rates – Latest Updates & Impact
Sasmita Apr 3, 2025 0

Fixed deposit (FD) investors may need to rethink their strategies as HDFC Bank and Yes Bank have reduced their FD…

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Jammu to Srinagar Vande Bharat Train
Latest News Travel
Jammu to Srinagar Vande Bharat Train: Route, Stops, Timings & Fare
Sasmita Apr 3, 2025 0

Indian Railways is set to launch the much-awaited Jammu to Srinagar Vande Bharat Express, enhancing connectivity between Jammu and Kashmir’s…

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Samsung Galaxy Tab S10 FE Series
Technology
Samsung Galaxy Tab S10 FE Series Launched: Features, Specs, and Price
Sasmita Apr 3, 2025 0

Samsung has officially launched the Galaxy Tab S10 FE series, bringing powerful features at an affordable price. This new Fan…

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Bank Holidays in April 2025
Latest News
Bank Holidays in April 2025: Full State-Wise List of Public & Weekend Holidays
Sasmita Apr 3, 2025 0

April 2025 is packed with multiple bank holidays due to national and regional festivals, as well as weekends. If you’re…

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EPFO Update:
Finance Latest News
EPFO Update: Auto Settlement Limit Increased to ₹1 Lakh – Good News for Members!
Sasmita Apr 3, 2025 0

The Employees’ Provident Fund Organisation (EPFO) has announced a significant update, bringing relief to millions of its members. In a…

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New Income Tax Slabs 2025
Finance
New Income Tax Slabs 2025: Zero Tax on Income up to Rs 12 Lakh
Sasmita Apr 2, 2025 0

In a significant relief for taxpayers, the government has announced revised income tax slabs for the upcoming financial year. Under…

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Recent Posts
  • Tips to Legally Maximize Tax Benefits on Your Personal Loan
  • How to Use a Personal Loan EMI Calculator to Plan Your Budget Smartly
  • How Much Will ₹5 Lakh Earn in a 5-Year Fixed Deposit? Here’s the Breakdown
  • How to Apply PAN Card for Children: Step-by-Step Guide for Parents
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