{"id":132741,"date":"2017-05-23T11:21:08","date_gmt":"2017-05-23T05:51:08","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=132741"},"modified":"2017-05-23T11:21:08","modified_gmt":"2017-05-23T05:51:08","slug":"epfo-beneficiaries-to-get-payment-through-electronicdigital-fund-transfer-system","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/05\/23\/epfo-beneficiaries-to-get-payment-through-electronicdigital-fund-transfer-system\/","title":{"rendered":"EPFO beneficiaries to get payment through electronic\/digital fund transfer system"},"content":{"rendered":"<p style=\"text-align: justify;\">The Ministry of Labour &amp; Employment vide notification dated 4<sup>th<\/sup> May 2017 has provided for electronic or digital fund transfer\/payment of EPF benefits, pension disbursement and insurance claim. For this purpose, suitable amendments have been made in all the three social security schemes administered by EPFO. (<a href=\"http:\/\/www.epfindia.gov.in\/site_docs\/PDFs\/Circulars\/Y2017-2018\/Manual_Notification_DBT_3004.pdf\">http:\/\/www.epfindia.gov.in\/site_docs\/PDFs\/Circulars\/Y2017-2018\/Manual_Notification_DBT_3004.pdf<\/a>).<\/p>\n<p style=\"text-align: justify;\">Such move is likely to benefit 4.5 crores EPF subscribers and around than 54 lakh pensioners.\u00a0 Now, payments will be made to the beneficiaries through electronic or digital fund transfer system only ensuring quick transfer of funds, easier tracking and reconciliation thereof.<\/p>\n<p style=\"text-align: right;\">Ministry of Labour &amp; Employment<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Labour &amp; Employment vide notification dated 4th May 2017 has provided for electronic or digital fund transfer\/payment of EPF <\/p>\n","protected":false},"author":91,"featured_media":28141,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-132741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EPFO beneficiaries to get payment through electronic\/digital fund transfer system | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2017\/05\/23\/epfo-beneficiaries-to-get-payment-through-electronicdigital-fund-transfer-system\/\" \/>\n<meta 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advises Beneficiaries to avail Online Services to contain spreading of COVID-19","author":"Bhumika Indulia","date":"March 21, 2020","format":false,"excerpt":"In view of Government of India guidelines to contain spreading of COVID-19, Employees\u2019 Provident Fund Organization (EPFO) advises it members, pensioners and employers to avail various online services offered by EPFO, from the comfort of their homes, and to avoid visiting EPFO offices. Most of the services of EPFO are\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":227672,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/29\/union-labour-ministry-notifies-amendment-in-epf-scheme-to-allow-withdrawal-of-non-refundable-advance-by-epf-members-in-the-event-of-outbreak-of-pandemic\/","url_meta":{"origin":132741,"position":1},"title":"Union Labour Ministry notifies amendment in EPF Scheme to allow withdrawal of non-refundable advance by EPF members in the event of outbreak of pandemic","author":"Bhumika Indulia","date":"March 29, 2020","format":false,"excerpt":"Union Ministry of Labour and Employment has issued notification GSR 225(E) amending EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members\/subscribers in the wake of COVID -19 pandemic in the country. The notification permits withdrawal of upto the amount of basic wages and dearness allowance for three\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140771,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/07\/05\/multiple-banking-system-for-epfo-contribution-and-payments\/","url_meta":{"origin":132741,"position":2},"title":"Multiple Banking System for EPFO contribution and payments\u00a0","author":"Saba","date":"July 5, 2017","format":false,"excerpt":"In keeping with the Government\u2019s mandate for facilitating \u2018Ease of doing business\u2019, EPFO has taken a step further. EPFO has entered into agreement for collection of EPF dues from employers and payment to beneficiaries as well through multiple-banks in place of erstwhile single banking system. Collections of EPF dues have\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/11\/EPFO_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/11\/EPFO_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/11\/EPFO_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/11\/EPFO_1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/11\/EPFO_1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":28271,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/12\/04\/employers-attestation-no-longer-necessary-to-withdraw-epf-amount\/","url_meta":{"origin":132741,"position":3},"title":"Employers\u2019 Attestation no longer necessary to withdraw EPF Amount","author":"Sucheta","date":"December 4, 2015","format":false,"excerpt":"Employees\u2019 Provident Fund Organisation (EPFO) has launched new forms i.e. Form-19 (UAN), Form-10-C (UAN), and Form-31 (UAN) to provide benefit to large number of employees who can now withdraw their EPF amount without employers\u2019 attestation. Earlier, after leaving employment, employees were supposed to get their forms for withdrawal of EPF\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":229619,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/15\/relief-to-establishments-covered-under-epf-and-mp-act-1952-from-levy-of-penalty-for-delayed-deposit-of-dues-during-lockdown\/","url_meta":{"origin":132741,"position":4},"title":"Relief to establishments covered under EPF and MP Act, 1952 from levy of penalty for delayed deposit of dues during lockdown","author":"Bhumika Indulia","date":"May 15, 2020","format":false,"excerpt":"Due to prolonged lockdown announced by the Govt. to control the spread of COVID-19 and other disruptions due to pandemic, establishments covered under Employees' Provident Fund & Miscellaneous Provisions Act, 1952 are distressed and unable to function normally and pay the statutory contributions in time. Considering the difficulty faced by\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":218782,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/29\/breaking-centre-proposes-reduction-in-employees-provident-fund-contribution\/","url_meta":{"origin":132741,"position":5},"title":"Breaking | Centre proposes reduction in Employees&#8217; Provident Fund contribution","author":"Bhumika Indulia","date":"August 29, 2019","format":false,"excerpt":"As reported by money control, Ministry of Labour and Employment has recommended reducing\u00a0the contribution made by employees towards the Employees\u2019 Provident Fund (EPF). Presently, the mandated EPF contribution is 24 percent of basic pay, divided equally between employers and employees. 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