We got a query regarding what to do when you get your EPF refund but you cannot encash the cheque due to that bank account becoming inactive or name mismatch. In this article we try to list the cases when you cannot encash the cheque due to bank account changes and address what to do in such cases. Should you refill and resubmit the form? Actually in such cases what needs to be submitted is PF Reauthorization Form.
The query was as follows:
After resigning from the company I claimed PF amount and refund cheque was sent to my bank. Due to long non transaction my bank people sent back the cheque back to PF office. Now what is the process to get back the refund.
Other similar scenarios can be :
I have got the PF refund from the PF office but was rejected by my bank since the first name was not expanded in their records and the PF office has sent with the expanded full name. SO please let me know how to reapply for the provident fund refund. (Ref : survagyahr)
PF cheques made in favour of me was deposited in Icici bank, Malleshwaram ,Bangalore .(My existing bank account is also on the same branch). Icici branch refused to accept it the reason that bank account number was not starting with double Zero(00) initial to 10 digits of my existing bank account number. Now one of officer of peenya PF office told to fill reauthorization form.
I have submitted the PF form and now it is under process. The bank A/c I have referred has got inactivated 2 weeks back. Now I want to give the different bank A/C. All my PF details are maintained in Mumbai office (Employer and PF office).
I have submitted my PF withdrawal form to delhi office(Nehru place) in july. I have recd no intimation nor the PF amount till date. 2)I have recently changed my Bank account too. I have closed the one which i have given for PF withdrawal. Plz help me resolve both my issues.
I resigned from my previous job last year. About 2 months ago, I submitted my PF withdrawal forms at the PF office in Bangalore. Yesterday I got my PF money, but I noticed that its lesser than what I had estimated, After some rough calculations, I found out that the Pension fund money has not been credited. I checked the photocopies of the forms again, and to my horror, I found that the bank account number in the pension form (Form 10C) had missed a digit, and thus invalid. Bemoneyaware
Procedure to withdraw from EPF account
Let’s recap the procedure to withdraw from EPF. Quoting from our article Withdrawal or Transfer of Employee Provident Fund
Employee can withdraw from EPF by filling Form 19(pdf) which is available with the HR department of his ex-employer or can download it from EPFI webpage of download forms. One can withdraw only after a waiting period of two months after resigning. The rules are that an employee should not be in employment for two months after resigning if he has to withdraw his P.F amount. Form is submitted to the regional provident fund Commissioner office after which the employee receives his amount along with interest within a period of 90 days.
While submitting the EPF/EPS withdrawal form along with the bank details one needs to submit a cancelled cheque with the form. EPF office tries to do appropriate checking. Quoting from their circular by EPFO office (pdf format)
It is also reiterated that considering large volumes, bank may not be in a position to check member name and account number which increases likelihood of wrong payments. Considering same, it is mandatory that three level check of comparing member name and account number from passbook copy/cancelled cheque should be done meticulously.
As per EPF:FAQ webpage there are two modes of payment. Quoting from there:
20) What is the mode of payment of Provident Fund and Employees’ Deposit Linked Insurance dues?
Provident Fund & Employees’ Deposit Linked Insurance dues is paid by money order/ by deposit in payees’ bank a/c/ through employer/ by depositing the cheque in payees’ name or part of amount in annuity scheme in any nationalised bank. Payment by money order is allowed where the amount is not more than Rs. 2000/-.
Cheque issued is of State Bank Of India.
In 2010 as per the circular by EPFO office(pdf format) EPFO is moving towards three modes of payment of EPF refund as shown in picture below (picture is from the circular):