PF Withdrawal Sent to Closed Account: How Can I Resolve This Banking Mix-Up?

I have applied for PF withdrawal. They have already transferred the amount to my Axis Bank on 20th March 2013. However, the issue is that the account was already closed in February 2013. When I asked them about it, they mentioned that it is not their responsibility and advised me to check with the bank people. Please let me know what I can do in this case.

First, you may check with your bankers (Axis Bank) about the status of such a payment by providing the confirmation from EPF authorities and seek their advice. If possible, obtain a letter or some other proof to demonstrate that the amount remitted by the EPFO has been returned to them. Then, approach the EPFO with details of your new bank account, duly attested by your current bankers, for the re-remittance of your dues.

Best of luck.

Once you have provided the bank details to the PF department, it is not advisable to close the account until the amounts are credited. Even if you have closed it, it is your mistake that you didn't update the change of account details. No need to worry. Check with the bank about funds transferred to the account. If your account does not exist, then the funds will return to the PF department, and they will send a letter to you to resubmit the PF withdrawal forms, or you can request a change of account details.

Regards,
Jeevarathnam

When I consulted with the PF department, they said they have transferred the money. I need to check with my bank. When I consulted my bank, they mentioned that for a closed account, NEFT transfer will not be possible, so it's better to ask the PF office regarding this. I am in a helpless situation. Please help me with what I can do now.

Thanks in advance.

In that case, it is better to give a letter to the PF department stating that the account is closed and requesting a letter to change the payment details to the new bank account. For that, you should enclose the following documents:

Enclosures:

1. If you have any confirmation of account closure, then enclose that copy; otherwise, get a letter from the bank stating that your account has been closed and any payments from the PF department will be returned.
2. Cancelled cheque leaf of the new account for confirmation of name, account number, and bank details.

Even if they are not accepting it, don't leave the matter. Take the same to a higher level. Tell the PRO that you need to meet the Case worker, then the Accounts officer, and finally the Commissioner. Your problem shall be solved.

I have also faced many issues with PF and got them solved.

First of all, you have to check which details of the bank account you have provided to the PF department. If you have provided the details of a closed bank account and the balance is not transferred to it, then you should ask the PF department to provide the transaction/NEFT number so that you can check it with your bank.

A similar case happened with someone I know, but the PF department just provided a form, and after filling it out, the money was provided.

You may also file a written complaint to the department questioning how money can be transferred to a closed account and ask them to verify the same with their accounts department.

Regards,
Vinay

If you have a guarantee that the amount transferred to your account through a cheque, in such cases, the bank will return the cheques to PF authorities. Upon confirmation, ask your employer to provide the Reauthorization form filled out and signed by an authorized signatory, then submit it to the PF office, specifying your correct Bank Account Number and address. Your amount will follow.

Thanks.

You have to fill out the ASR form and submit it to the PF office. The payment will be transferred to the new bank account. If the ASR form is required, please ask for it.

Regards,
Jugbir

Hi Vinay, I have checked with them, and they have transferred the amount to the closed account only. You mentioned that "A similar kind of case happened with my known person, but the PF department just provided a form, and after filling it, money was provided." Can you please ask him and let me know the procedure so that I can do the same? Please help me in this case.

Thanks in advance.

I appreciate the suggestion you received from the above members. Contact your bank once the EPFO website shows the payment transfer status, which you can check on the EPFO website by entering your EPF account number in the status option. If your bank has not yet processed your account, you will receive the payment through the bank. If not, follow the process as suggested by the respective members above!

Regards

Enclosing the ASR form for reference - fill it out and have it attested by your banker, then submit it to the EPFO. Fill out separate forms for EPF & EPS.

Thanks & Regards,

Sumit Kumar Saxena

In all probability, the money is lying in a suspense account. In that case, only the bank can retrieve it and pay you through a banker's cheque. Just ask the bank if it is so.

Hi,

Is this issue resolved? I am also facing a similar problem. Can you please guide me to resolve the issue?

Regards,
Suresh

Sir, my PF claim has been settled, but my bank account is closed. The NEFT payment was returned to EPF. How can I withdraw my PF?