Excelsior Correspondent
JAMMU, Aug 2: Members/employees can opt for partial withdrawal or non-refundable advance from their PF fund, for reasons like Covid19 Pandemic, illness etc and still continue their EPFO membership.
This has been informed by Rizwan Uddin, PF Commissioner , EPFO Regional Office, Jammu Kashmir and Ladakh, in a statement, issued here today.
Maintaining that withdrawing full PF fund standing to the credit of the employee not only deprives him of a handsome interest earning mechanism but also pensionary benefits and insurance cover, he said that in case of change of work/job, employees/members can transfer their previous service record to the current service and their PF fund and service period will be added up into the current service.
“Claim settlement will be quicker if employees’ Aadhaar and Bank Account is linked with UAN (Universal Account Number) as it will eliminate the duplicate accounts,” he said, adding that the most significant benefit of linking Aadhaar and Bank Account is that it will make the transparency in employees’ whole account system.
“After completing KYC an employee can check member balance at any point of time using his UAN and password. He can apply for withdrawing net accumulation on retirement or advances online without intervention of employer,” he informed.
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