My query is related to the PF bank account. I have been unemployed for 5 months now. My KYC and all other information are updated in the PF portal. My issue is:
1. I don't own a bank account, as my salary account is closed (closed with my approval).
2. I have requested the settlement form from the PF portal and have shared my wife's bank account details. So, will this create a problem?
3. The current status says "under progress."
So, will the settlement happen to my wife's account, or do I have to open a new bank account in my name, update the KYC, and redo the settlement process?
From India
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1. I don't own a bank account, as my salary account is closed (closed with my approval).
2. I have requested the settlement form from the PF portal and have shared my wife's bank account details. So, will this create a problem?
3. The current status says "under progress."
So, will the settlement happen to my wife's account, or do I have to open a new bank account in my name, update the KYC, and redo the settlement process?
From India
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For clearance it has to be your account only thus you need to open your new account and apply for withdrawal with the same details.
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Joint Bank Account acceptable in PF.pdf