PF Withdrawal | NPCI | New PF Rules 2017 | EPF Members | PF Fund Transfer – Good news has come from the EPFO for their subscribers. The EPFO’s Central Board of Trustees has taken a major decision in the meeting and made a big decision regarding transfer of PF fund.
This decision is the news of the benefits for you. With this decision, you will now be able to withdraw money quickly from your PF account. This decision will benefit the 4.5 million account holders of EPFO.
PF Withdrawal Become Much Quicker
In the meeting of the Central Board of Trustees, Minister of State for Labor and Employment (Independent Charge) Santosh Gangwar also joined. Taking an important decision in this meeting, the EPFO has now approved PF withdrawals through NPCI in a single day. After this decision, the account holder can easily withdraw the PF fund.
An Important Decision on NPCI
Taking an Important decision in the CBT meeting, the agreement with the National Payment Corporation of India was approved. After this decision, a central mechanism will be created for PF payment. After this decision, the account holders can withdraw their money through EPFO’s NPCI in a single day.
EPFO Decided to Adopt NPCI
According to Bill Rule, the EPFO works on a decentralized system. In this arrangement, EPFO has to spend more for the transaction. In this arrangement, spending along with time is also high. In this case, EPFO decided to adopt NPCI, which would now ease the transaction process and ease PF clearance. Along with this important decision, the CBT has also approved the valuation and accounting policy of equity investment. “