EPFO ties up with 5 banks to collect PF dues
6th July, 2017Category:
EPFO has signed agreements with five banks, Bank of Baroda, ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank for the collection of provident dues and to make retirement payments. The employers having a bank account with these banks can now deposit PF dues directly in EPFO account using internet banking.
In the absence of this arrangement, the EPFO has to collect dues and make payments through aggregator mode, each transaction costing around Rs 12.
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