Do this work to withdraw money from Inactive PF account, you will get payment easily even after the company is closed
new Delhi. To avoid future problems, the money of Provident Fund is quite useful. In the Corona period, most people have withdrawn their old funds. But during this time there are many people whose accounts have been inactive account for a long time. Due to which their account has become inactive. If you are also struggling with such problem then you can take your payment by adopting some procedures.
Account gets closed automatically after 3 years
People who have not transferred their old PF account to a new work place. Also, there is no transaction in it for 36 months and the old company is closed, then the PF account of such people gets closed after 3 years. In order to settle the claims related to such inactive PF accounts, it is necessary to get it certified. The employer will do this work. If the old company is closed, the bank can get the claim certified on the basis of KYC documents.
EPFO officer’s permission will get money
Some rules have been made by EPFO to take the claim of inactive account. There are different categories of payment under this. If the amount is more than 50 thousand rupees then the approval of Assistant Provident Fund Commissioner will be required. If the amount is more than 25 thousand rupees and less than 50 thousand rupees, the permission of the account officer and the permission of the dealing assistant on the amount of less than 25 thousand rupees will be required. Only then can the money be transferred.
Documents required for KYC
KYC will require PAN Card, Voter Identity Card, Passport, Ration Card, ESI Identity Card, Driving License and Aadhar Card. After this, you can withdraw money after obtaining approval of withdrawal or transfer from Assistant Provident Fund Commissioner or other officer.