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No need of revenue stamp on EPF claim forms for NEFT transfer
Posted on: 08/Mar/2017 2:48:09 PM
For payments to be made through National Electronic Fund Transfer, NEFT, the EPF claim form should not contain revenue stamp, states sources from the Retirement fund body EPFO. The offers are requested to be vigilant in this regard.
The EPFO has been observing that the PF exempted establishments want Re 1 revenue stamp be affixed on claim forms. On observing this, the retirement fund body has come forward clarifying the issue.
The procedure of fixing Re 1 revenue stamp in claim forms got dispensed for NEFT payment in August 2015. Most of the EPFO payments are made via NEFT and for PF settlements, and disbursing pension to prisoners under Employees’ Pension Scheme 1995.
The money gets directly transferred to beneficiary account when sent through NEFT.
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