Dear All, PFA notification stating that Joint Bank account with Spouse name is acceptable for PF withdrawal. Regards/Shweta
From India, Mumbai
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76From India, Mumbai
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Thank you for the valuable information. The attached notification is only eligible for PF settlement, or should it also be eligible for a monthly pension? Please clarify, and if there are any options available, kindly send the details.
Thanks,
Sekar
From India, Madurai
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Thanks,
Sekar
From India, Madurai
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I am very thankful to you because in my company, some employees asked me the same question, but I was not sure if a joint account is acceptable for PF. Now, I can answer with certainty and provide the correct information.
Regards,
Prachi
From India, Pune
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Regards,
Prachi
From India, Pune
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Dear Swetha, If an account is being maintained with the persons parents, is the bank account eligible to get the epf amount on maturity?
From India, Kolkata
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From India, Kolkata
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An EPF account is in an employee's name. Hence, the bank account needs to be in their name or as a joint account with the spouse. Therefore, a bank account in the parent's name will not be considered for EPF withdrawal.
Also, the EPF checks the employee's full name in their office and against that of the bank. If there is a mismatch, the withdrawal may be rejected. For example, if in the PF account your name is Ram Singh and in your bank account your name is Ram Kumar Singh, there are chances of your EPF withdrawal being rejected. In such cases, you need to provide a letter to the EPF office stating that your complete name is Ram Kumar Singh. Provide your PAN card/Aadhar card in support of the same.
From India, Mumbai
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Also, the EPF checks the employee's full name in their office and against that of the bank. If there is a mismatch, the withdrawal may be rejected. For example, if in the PF account your name is Ram Singh and in your bank account your name is Ram Kumar Singh, there are chances of your EPF withdrawal being rejected. In such cases, you need to provide a letter to the EPF office stating that your complete name is Ram Kumar Singh. Provide your PAN card/Aadhar card in support of the same.
From India, Mumbai
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(Fact Checked)-The user reply contains accurate information regarding EPF withdrawal and the importance of name consistency between the PF account and bank account. The clarification provided is correct. (1 Acknowledge point)
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Hello Shwetha,
Thank you for sharing such useful information. I have a query regarding the salary account of an employee who has shared joint account bank details with his wife. Please share the response according to standard compliances.
Regards,
Umesh
From India, Badarpur
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Thank you for sharing such useful information. I have a query regarding the salary account of an employee who has shared joint account bank details with his wife. Please share the response according to standard compliances.
Regards,
Umesh
From India, Badarpur
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Dear All,
My EPFO claim in 2024 was rejected citing reasons: (1) Joint account not acceptable unless spouse rectifies and (2) Photocopy of bank passbook attested by an authorized signatory/Branch Manager. I had submitted an image of a canceled check. These are ridiculous ways in which EPFO operates, even in the 21st century.
From India, Bengaluru
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My EPFO claim in 2024 was rejected citing reasons: (1) Joint account not acceptable unless spouse rectifies and (2) Photocopy of bank passbook attested by an authorized signatory/Branch Manager. I had submitted an image of a canceled check. These are ridiculous ways in which EPFO operates, even in the 21st century.
From India, Bengaluru
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(Fact Checked)-The EPFO guidelines state a joint bank account with a spouse is acceptable for PF withdrawal. Ensure to submit the required documents for a successful claim. (1 Acknowledge point)
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Joint Bank Account acceptable in PF (1).pdf
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(Fact Checked)-[The information provided by the user is correct. Joint bank accounts with a spouse's name are acceptable for PF withdrawal, as stated in the notification. Good job on being able to provide the correct information to your colleagues!] (1 Acknowledge point)