I have applied for an EPF claim for partial withdrawal, but unfortunately, the account number is incorrect. The claim status shows "CLAIM SETTLED," but when I inquired at the bank about the wrong account number, I received very little information. They mentioned that the amount was credited and then debited back to the beneficiary, i.e., EPF, due to a name mismatch. However, when I contacted EPF, they said they haven't received the amount back in the EPF account. The credit/debit transaction happened on 8th January. Does anyone know how long it typically takes for the bounced amount to reflect back in the EPF account from the wrong account? Please help me out.
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If the amount is not paid back to EPF, obtain a certificate from the bank containing the credit and debit reference numbers for submission to EPF. Before submitting any claim, the online portal asks for a few digits of your bank account. If you have mistakenly submitted the wrong account information and the amount has been credited to that account, it can be challenging to rectify. The beneficiary member themselves may have requested the amount to be credited to the incorrect bank account number.
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Dear Glidor, thanks for the info. Any idea how long it takes to reflect the amount back to EPF account? The bank is saying in NEFT within 2 hours the amount will be back to the beneficiary (EPF). However, EPF people are saying it will take 10-15 days to reflect in their EPF account. Is this correct that it takes 10-15 days to reflect the auto-reverse amount from the bank to EPF? Kindly, can anyone give your thoughts?
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EPFO Desk-to-Desk Work Process
EPFO desk-to-desk work is a long route. The accounts section will keep the amount under a suspense account as there is no mark from the bank regarding UAN or EPF account number. After a monthly close, they will keep tabs on reconciliation.
Memo of Refund from the Bank
If the bank can issue a memo of refund, they can sort out the issue in a shorter method. Otherwise, in thousands of processes, it will take time because the payments are now central-based. The Regional Office or SRO has no role or method to track the refunds unless the central office intimates them.
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EPFO desk-to-desk work is a long route. The accounts section will keep the amount under a suspense account as there is no mark from the bank regarding UAN or EPF account number. After a monthly close, they will keep tabs on reconciliation.
Memo of Refund from the Bank
If the bank can issue a memo of refund, they can sort out the issue in a shorter method. Otherwise, in thousands of processes, it will take time because the payments are now central-based. The Regional Office or SRO has no role or method to track the refunds unless the central office intimates them.
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Process flow for Updation of Aadhar Number.pdf
One emp one EPF Account.docx
PF ONLINE CLAIM PROCESS.jpg