Payment of Provident Fund accumulation through Account Payee Cheque — Instructions regarding.

Employees Provident Fund Organisation 

(Ministry of Labour & Employment. Govt. Of India)

Dated: 15.06.2012.

   May kindly refer to the above subject. As per prevailing instructions, Provident Fund accumulations/ withdrawal benefits are being credited only in the single bank account of the member.

   In order to rationalize and simplify the process of settlement and also to curb the return/rejection ratio of the received claims, it is decided that henceforth amount of Provident Fund accumulation/ withdrawal benefit may also be credited in the joint bank account of the member, if member opts for the same. However, this is to clarify that the joint bank account shall be acceptable for the purpose only in case when the bank account is maintained with his/her spouse.

   In view of above, it is directed that no claim should be returned/rejected due to the reason that member has preferred to claim his/her Provident Fund accumulations/withdrawal benefit in his/her joint saving bank account maintained with his/her spouse.

Yours faithfully,

sd/- 

(Rajes Bansal) 

Financial Advisor & Chief Accounts Officer