Why claiming your PF money seems so difficult
'Incomplete documentation, incorrect name, date of birth, ID number or bank account number mismatch, employer verification, outdated KYC, these small discrepancies trigger outright rejection and delays,' Maurya explained.The EPFO system checks your details against Aadhaar, PAN, and other records. Even a small mismatch can cause the process to get stuck.WHY INCOMPLETE KYC STOPS EVERYTHINGMany people don't realise how important proper KYC (Know Your Customer) is. If your KYC isn't verified, your claim can get stuck for months. Without KYC and full identity verification, all processes stop. Your claim stays frozen in limbo until KYC issues are resolved," says Maurya.Even if your paperwork is fine, if your bank details do not match the EPFO records, your claim might be rejected automatically.ARE EMPLOYERS ALSO RESPONSIBLE?It's not always just the paperwork that causes trouble. Employers can also delay claims, knowingly or unknowingly. According to Maurya, "Employers are active participants. If they don't update your exit date or don't respond properly to EPFO, your claim may get stuck."Sometimes, pending dues or errors in monthly submissions can add to the mess, leaving employees helpless until things are fixed.HOW CAN YOU AVOID THESE PROBLEMS?There are simple steps you can take to make sure your PF claim does not get stuck. First, keep your personal details like Aadhaar, PAN, and bank account updated and matched everywhere. Always verify your KYC on the EPFO portal."Keeping personal details like Aadhaar, PAN, and bank account updated across all systems is a must. After leaving a job, make sure your employer updates your exit date. Prefer online filing, check your claim status often, and don't wait too long to raise a grievance if there's an unexplained delay," Maurya advised.DOES THE ONLINE SYSTEM HELP OR HURT?The EPFO's online system has made claims faster and more transparent, but it can confuse people who are not used to filing things online.advertisement"The online system has definitely made things faster and more transparent, but for those not comfortable with technology, it is puzzling. Verified KYC and matching documents greatly impact a person's claim, which many people seem unaware of," Maurya said.So, keep your documents clear and verified. Always double-check your details. If you do this, your hard-earned money will reach you without unnecessary stress. Your PF money is yours, make sure small mistakes don't keep you away from it.- Ends
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
2 hours ago
- The Hindu
Integrated sub-registrar offices to be launched in Telangana
The Telangana government will introduce integrated sub-registrar offices to provide efficient, transparent and corruption-free services to citizens. Chief Minister A. Revanth Reddy will lay the foundation stone for the first Integrated Sub-Registrar Office on August 20 in the premises of the Telangana Academy of Land Information and Management (TALIM) at Gachibowli. Revenue Miniter Ponguleti Srinivas Reddy told mediapersons that the government has decided to restructure and integrate existing sub-registrar offices to improve efficiency, reduce corruption and speed up document processing. In the first phase, 39 sub-registrar offices across Hyderabad, Rangareddy, Medchal and Sangareddy districts will be consolidated into 11 integrated offices. The Gachibowli facility will serve as a role model for other offices. Additional integrated offices are being planned at Koheda (for Abdullapur, Pedda Amberpet, Hayathnagar and Vanasthalipuram offices), Mankhal (for Maheshwaram, Ibrahimpatnam, Shamshabad offices), Kandlakoya (for Medchal, Quthbullapur, Keesara, Shamirpet offices), Boduppal (for Uppal, Narapally, Kapra, Ghatkesar, Malkajgiri offices), Banjara Hills (for Banjara Hills, SR Nagar, Golconda offices) and Malakpet (for Azampura, Charminar, Doodhbowli offices). Locations have also been identified for four more integrated buildings to cover 13 additional sub-registrar offices, he said. Mr. Srinivas Reddy said that the slot booking system, introduced from April 10 in phases across all 144 sub-registrar offices, has been a huge success. Since June 2, the system has been fully operational State-wide, with nearly three lakh slot bookings registered so far. To further streamline services, the government has piloted e-Aadhaar authentication at Armoor (Nizamabad district) and Kusumanchi (Khammam district) sub-registrar offices, and plans are afoot to roll it out across the State soon. The Minister clarified that the government doesn't view the Stamps and Registration department merely as a revenue source. 'Our priority is to provide citizens with fast, transparent and corruption-free services. Slot booking has already saved people valuable time, and with e-Aadhaar integration registrations will become even quicker,' he said.
Time of India
4 hours ago
- Time of India
Indian telcos' operating profit to rise by 12-14% to ₹1.55 lakh crore in FY26: Crisil
NEW DELHI: Indian telecom carriers' operating profit (earnings before interest, taxes, depreciation, amortisation, and rent) is expected to grow strongly by 12-14% year-on-year to nearly ₹1.55 lakh crore in fiscal year 2026, supported by a rise in data consumption and a consequent rise in the average revenue per user (ARPU), according to the latest Crisil Ratings report released on Monday. Last fiscal year, the Ebitdar grew by approximately ~17% to ₹1.4 lakh crore, predominantly due to the tariff hikes undertaken by the top three private telcos in July 2024, according to the report. 'The robust operating performance, along with declining capital expenditure (capex) intensity of leading players after completion of 5G rollout, will improve their free cash flow. This will support credit profiles of leading players in the industry,' the ratings agency said, basis its analysis of Reliance Jio , Bharti Airtel , and Vodafone Idea (Vi,) which together hold about 93% of the subscriber market share. According to Anand Kulkarni, director, Crisil Ratings , the ARPU may increase to ₹220-225 in FY26 – up from ₹205 in FY25 – as Indian telcos have been rebalancing their offering by reducing plans with low data limits, or providing 5G services only on plans with higher data limits. 'This trend is expected to move consumers to premium plans, boosting telco ARPU,' he said. CRISIL, though, has not factored in any tariff hike this fiscal in its analysis. According to it, an increase in ARPU results in a surge in Ebitdar, given that about 60% of the overall cost of telcos is fixed in nature. 'Thus, telecom industry benefits from high operating leverage and our analysis suggests that every ₹1 increase in ARPU adds ₹850-950 crore to the industry Ebitdar,' Crisil said. Amid the rising demand for data-driven services, on the back of expanding penetration of fifth-generation (5G) networks, telcos have introduced premium plans that bundle over-the-top (OTT) services, which help raise APRU through upselling, Crisil noted. Additionally, the internet penetration in rural and semi-urban areas is expected to increase by 4-5% rising to 82% by fiscal 2026. This, combined with the migration of users from voice-only plans to data plans, will further lift the ARPU, said the ratings agency. While Jio and Airtel already provide nationwide 5G networks, Vi has recently joined the race and said its 5G network was live in 17 cities pan-India. The third-largest Indian telco aims to provide the latest-generation of wireless broadband network in its 17 priority circles. Crisil estimated that the 5G penetration will rise from nearly 35% in FY25 to about 45-47% by FY26, with the 5G networks fueling data consumption for various applications, including generative artificial intelligence (GenAI). Consequently, data usage is expected to increase to 31-32 GB in FY26, from ~27 GB in FY25. The expansion in operating profit will also improve free cash flow because of lower capex requirements. 'Capex intensity, which averaged ~31% over the past two fiscals, is expected to moderate to 24-26% this fiscal as a large part of 5G network rollout has been completed by the leading telcos. Furthermore, most of the spectrum purchase was completed in fiscal 2023 and next significant spectrum renewal will be due in 2030,' said Nitin Bansal, associate director, Crisil Ratings. Bansal said this will result in healthy operating free cash flow of around ₹70,000 crore this fiscal, a large part of which will likely be utilised for debt reduction.
India Today
4 hours ago
- India Today
Want quicker PF access? Here are the updated EPFO rules
The Employees' Provident Fund Organisation (EPFO) has introduced new rules to make it easier for members to link their Aadhaar with their Universal Account Number (UAN) and update their personal details. The goal is to reduce paperwork and ensure faster access to provident fund services, especially in sensitive cases such as payouts to of the changes introduced by the EPFO are as follows:advertisementDIRECT LINKING NOW POSSIBLE IF DETAILS MATCHUnder the updated rules, if your name, gender and date of birth match in both Aadhaar and UAN records, you no longer need EPFO approval to link the two. You can simply approach your employer, who can complete the Aadhaar seeding through the KYC section on the employer even simple cases were delayed due to multiple verification PAYOUTS FOR MINORS In a major relief for families, the EPFO will no longer ask for a guardianship certificate while settling claims for a deceased member's minor payout, whether lump sum settlement or pension, will be directly credited to the child's bank account. EPFO officials have also been instructed to help claimants open bank accounts for minor beneficiaries to avoid FIX FOR MISMATCHED DETAILSFor cases where details do not match, or a wrong Aadhaar has been linked, the Joint Declaration (JD) process has been can now submit online JD requests to correct basic information such as name, gender or date of the employer is not available or the company has shut down, members can submit a physical JD form at the nearest EPFO office. After verification, the PRO (Public Relations Officer) will upload the details for any change to Aadhaar details that have already been verified will not be accepted under the new to Link Aadhaar to UAN via UMANG AppTo link Aadhaar with your UAN, you can use the government's UMANG mobile app. After logging in, head to the EPFO section under the Services tab and click on e-KYC services. Choose Aadhaar Seeding, enter your UAN and authenticate with the OTP sent to your registered mobileThen enter your Aadhaar details and verify the second OTP sent to your Aadhaar-linked mobile/email. Once both verifications are completed, the Aadhaar will be linked. The linking takes only a few minutes, although approval may take 3–5 days (up to 15 days in some cases).- EndsMust Watch
