look news india
News India Live, Digital Desk: If you are employed and PF is cut from your salary every month, then this news is of your use. Staff provident fund organization (EPFO) Has decided to provide large scale relief to employees. From now on, the PF claim of an employee will not be rejected when overlap is overlap in the service period. There is no need to verify the claim and refund from the Human Resource Department. With the new rules, employees will be able to reach their savings more easily.
What is service overlap? When
Records show that an employee is working for two different companies on the same date, so Service overlap It is said. This happens when there is a problem with the date of leaving one company and the date of joining the other company. Earlier, EPFO regional offices used to reject claims when such service overlaps. However, in the circular issued on 20 May 2025, the EPFO said that the claim would have to be accepted even if the service overlaps.
Not the basis of service overlap claim: EPFO has issued a circular to all its offices saying that
Causes of service overlap Transfer claims Should not be rejected. The circular states, “Overlap in services can occur for many reasons.” Therefore, the claim should not be rejected on this basis. The claim will be stopped only when it is necessary to clarify the service overlap.
Big relief for employees:
The decision taken by EPFO will benefit millions of salary class. Provident fund for employees retirement is a great source of income and financial security. This is a major part of their lifetime savings. If an employee works for 20 years and there is a day’s service interval between the two companies, then the money gets stuck. Especially after the death of the employee, his family will have to face a lot of difficulties in withdrawing this amount.
8.25% interest rate approval:
Earlier, the Finance Ministry had approved the EPFO’s decision to retain the interest rate on the money deposited in PF accounts for FY 2024-25. In February, the Central Board of Employees Provident Fund Organization (EPFO) had decided to retain the interest rate at 8.25% in a meeting held on 28 February. For FY 2023-24, the government has increased the interest rate from 0.10% to 8.15% to 8.25%.