Dear Community,
I am seeking advice and insights regarding a situation we have encountered with the auto-debit of an EPF payment. On 18th February 2025, we attempted to make the EPF contribution through our Yes Bank Corporate Banking portal, but unfortunately, the transaction failed due to an error. Despite this, we successfully made the payment via our HDFC Bank account to ensure timely compliance.
However, we were surprised to discover that an amount of Rs. 4,88,376 was auto-deducted from our Yes Bank Corporate Account (Account No: 002281300005166) on the same date, despite the initial payment attempt failing. This deduction occurred without our approval, which goes against our company's internal approval process for payments.
We have also faced repeated technical issues with both the EPF Portal and Yes Bank's platform, which have resulted in failed payment attempts multiple times.
My questions to the community are:
Has anyone encountered a similar issue where an auto-debit was processed despite the initial transaction failure? How did you resolve it?
Is there a standard process that banks follow in such cases, and should we expect a refund in situations like this?
What steps can we take to prevent such issues in the future, both in terms of technical glitches and ensuring proper payment approvals?
Any advice on how to escalate this matter to ensure a swift resolution, given the urgency and compliance nature of EPF contributions?
We would appreciate your insights and suggestions to address this matter.
Thank you in advance for your help!
From India, Guwahati
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8I am seeking advice and insights regarding a situation we have encountered with the auto-debit of an EPF payment. On 18th February 2025, we attempted to make the EPF contribution through our Yes Bank Corporate Banking portal, but unfortunately, the transaction failed due to an error. Despite this, we successfully made the payment via our HDFC Bank account to ensure timely compliance.
However, we were surprised to discover that an amount of Rs. 4,88,376 was auto-deducted from our Yes Bank Corporate Account (Account No: 002281300005166) on the same date, despite the initial payment attempt failing. This deduction occurred without our approval, which goes against our company's internal approval process for payments.
We have also faced repeated technical issues with both the EPF Portal and Yes Bank's platform, which have resulted in failed payment attempts multiple times.
My questions to the community are:
Has anyone encountered a similar issue where an auto-debit was processed despite the initial transaction failure? How did you resolve it?
Is there a standard process that banks follow in such cases, and should we expect a refund in situations like this?
What steps can we take to prevent such issues in the future, both in terms of technical glitches and ensuring proper payment approvals?
Any advice on how to escalate this matter to ensure a swift resolution, given the urgency and compliance nature of EPF contributions?
We would appreciate your insights and suggestions to address this matter.
Thank you in advance for your help!
From India, Guwahati
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Dear Community Member,
It's an unfortunate situation that you have encountered. Here are some steps you can take to rectify this and ensure it doesn't happen in the future.
1. 📞 Contact Your Bank: The first step is to get in touch with your Yes Bank corporate banking customer service. Inform them about the auto-debit issue and request them to look into the matter. They should be able to provide you with a reason for the failure and subsequent auto-debit.
2. 📝 File a Complaint: If your bank isn't able to provide a satisfactory answer, you can escalate the matter by filing a formal complaint. Make sure to include all the relevant details, including the transaction ID, amount, and date.
3. 🏦 Engage with EPF Portal: Reach out to the EPF customer service as well. They might be able to give you insights if the problem lies on their end.
Regarding your questions:
1. 🔄 Auto-debits after failed transactions: This can happen due to various reasons including technical glitches, bank's internal policies or communication gaps between your bank and EPF portal. Usually, the bank should refund the amount if the transaction was unsuccessful.
2. 🛡️ Preventing Future Issues: For preventing such issues in the future, you can consider the following:
- 🧾 Always keep a record of your transactions, including transaction IDs and dates.
- 🔄 Make sure to get a confirmation from both your bank and the EPF portal when you make a payment.
- 🗂️ Regularly review your bank statements to catch any unauthorized transactions.
- 💻 Consider switching to a more reliable banking portal if you face repeated technical issues.
3. 🚀 Escalation: If your bank or the EPF portal is not able to resolve your issue, you can escalate the matter to the Banking Ombudsman or the EPF Grievance Redressal System. Make sure to provide all the necessary details and documentation to support your claim.
Remember, it's crucial to maintain a clear line of communication with your bank and the EPF portal. Ensuring you have all the required details and maintaining accurate records can help expedite the resolution process.
Hope this helps, and you get a quick resolution to your issue.
From India, Gurugram
Acknowledge(0)Amend(0)
It's an unfortunate situation that you have encountered. Here are some steps you can take to rectify this and ensure it doesn't happen in the future.
1. 📞 Contact Your Bank: The first step is to get in touch with your Yes Bank corporate banking customer service. Inform them about the auto-debit issue and request them to look into the matter. They should be able to provide you with a reason for the failure and subsequent auto-debit.
2. 📝 File a Complaint: If your bank isn't able to provide a satisfactory answer, you can escalate the matter by filing a formal complaint. Make sure to include all the relevant details, including the transaction ID, amount, and date.
3. 🏦 Engage with EPF Portal: Reach out to the EPF customer service as well. They might be able to give you insights if the problem lies on their end.
Regarding your questions:
1. 🔄 Auto-debits after failed transactions: This can happen due to various reasons including technical glitches, bank's internal policies or communication gaps between your bank and EPF portal. Usually, the bank should refund the amount if the transaction was unsuccessful.
2. 🛡️ Preventing Future Issues: For preventing such issues in the future, you can consider the following:
- 🧾 Always keep a record of your transactions, including transaction IDs and dates.
- 🔄 Make sure to get a confirmation from both your bank and the EPF portal when you make a payment.
- 🗂️ Regularly review your bank statements to catch any unauthorized transactions.
- 💻 Consider switching to a more reliable banking portal if you face repeated technical issues.
3. 🚀 Escalation: If your bank or the EPF portal is not able to resolve your issue, you can escalate the matter to the Banking Ombudsman or the EPF Grievance Redressal System. Make sure to provide all the necessary details and documentation to support your claim.
Remember, it's crucial to maintain a clear line of communication with your bank and the EPF portal. Ensuring you have all the required details and maintaining accurate records can help expedite the resolution process.
Hope this helps, and you get a quick resolution to your issue.
From India, Gurugram
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