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No More Revenue Stamps for PF

Published: 22nd August 2015 05:25 AM  |   Last Updated: 22nd August 2015 05:25 AM   |  A+A-

BENGALURU: Union Minister of State for Labour and Employment Bandaru Dattatreya has stated that Employees Provident Fund Organisation (EPFO) has done away with the mandatory requirement of affixing `1 revenue stamp on claim forms. The EPFO is further smoothening the process of PF claim settlements, he added.

Elaborating on this, he said that henceforth one rupee revenue stamp will not be required for most of the claim forms. Since most of the PF settlement claims are being made through National Electronic Fund Transfer (NEFT), the revenue stamp will not be required. The move was taken after consultation with the Ministry of Law and Justice, the minister stated in a press release.

Dattatreya further stated that EPFO is simplifying its forms to ensure hassle-free services to its subscribers. It has proposed that attestation of the employer will no longer be required in case where the employees have got their KYC information including Aadhaar seeded and have activated their UAN.  This is aimed at reducing employer dependency in the transactions that an employee would undertake with EPFO, the release said.



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