Pathetic EPFO
Rejection rates by EPFO has gone up from 16% to almost 33% in the last 5 years.
Imagine, one in three applications to withdraw your own provident fund money is being rejected.
Don't leave this money to chance, or to the lure of getting tax free interest.
This is your life earnings. Most likely, this is your biggest asset.
Withdraw as soon as you quit for good. Take charge of your money. more
Imagine, one in three applications to withdraw your own provident fund money is being rejected.
Don't leave this money to chance, or to the lure of getting tax free interest.
This is your life earnings. Most likely, this is your biggest asset.
Withdraw as soon as you quit for good. Take charge of your money. more
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The main reason for the rise in the rejection rates was discrepancies in data which the EPFO systems had and what the claimants shared, and technical issues with the IT infrastructure. The Centre for Development of Advanced Computing (C-DAC), under the Ministry of Electronics and Information Technology (MeitY), has built the new software for the EPFO, which is helping the retirement body in reducing rejection of claims. https://www.epfindia.gov.in/site_docs/Annual_Report/Annual_Report_2019-20.pdf https://www.epfindia.gov.in/site_docs/Annual_Report/Annual_Report_2020-21.pdf https://www.epfindia.gov.in/site_docs/PDFs/Updates/Success_Story_EPFO.pdf more
Nov 26
The main reason for the rise in the rejection rates was discrepancies in data which the EPFO systems had and what the claimants shared, and technical issues with the IT infrastructure. The Centre for Development of Advanced Computing (C-DAC), under the Ministry of Electronics and Information Technology (MeitY), has built the new software for the EPFO, which is helping the retirement body in reducing rejection of claims. https://www.epfindia.gov.in/site_docs/Annual_Report/Annual_Report_2019-20.pdf https://www.epfindia.gov.in/site_docs/Annual_Report/Annual_Report_2020-21.pdf https://www.epfindia.gov.in/site_docs/PDFs/Updates/Success_Story_EPFO.pdf more
Nov 26
It is well known that EPO is very inefficient, but I am sure there must be some cases with genuine reasons for the rejections as well. Can LC Manager connect to EPO and get the list of genuine reasons which cause the rejections and publish here? This will help us to prepare accordingly proactively and avoid rejections? more
Nov 26
