Understanding the Process of PF Withdrawal with Cancelled Cheque Requirement

Dear all, what is the logic behind sending a canceled cheque along with Forms 19 and 10C for PF withdrawal? Clarification on this, please.

Again, if an employee has a salary account that is converted to a savings account due to non-transactions after resigning, I suppose his PF amount shall get reduced due to bank charges debited to his account. Is this correct?

Awaiting replies.

Best Regards,
From Mumbai

Dear all, what is the logic behind sending a cancelled cheque along with Forms 19 and 10C for PF withdrawal?

Cancelled cheque is mandatory for transferring your PF amount directly to your account.

Again, if an employee has a salary account that gets converted to a savings account due to non-transactions after resigning, I suppose his PF amount shall get reduced due to bank charges debited to his account. Is this correct?

Awaiting replies.

Yes, you are correct; banking charges would be deducted once the amount gets transferred from the PF Department if he resigns from the organization and the salary account would be automatically converted to a savings account.

Thank you, Mr. Ravi, for the reply. Could you please clarify the logic behind why it is mandatory? Should I suggest that resigned employees open a new savings account?

The EPFO is insisting on a cancelled cheque or a photocopy of the front page of the bank passbook because they have to ensure that the account numbers written in the Form 19 and 10 C are correct. Again, it has become a basic requirement for transferring the PF amounts through the National Electronic Fund Transfer system.

If you have concerns about bank charges, consider having the employee(s) open a savings bank account for this purpose.

Regards,
Madhu.T.K

Dear New to HR and Madhu,

Please clarify the following for me: I have resigned from an organization, and while applying for PF, they have asked me to provide a cancellation cheque from the organization's (Salary) account, which I did. Can you please explain why Madhu and ravi12345 did not suggest that I use my personal account when applying for PF?

Best Regards,
Cool777

Mr. Cool,

Let me shed some light on my case. I had resigned from my last company, and in the PF withdrawal forms, I had mentioned my Salary Account number. I got the money credited to this account number, but later on, I received an email from the bank stating that due to nil transactions for a long time since I was not earning a salary, my account was converted to a savings account. The bank informed me that I am now required to maintain a minimum balance of Rs 5000; otherwise, a bank charge of Rs 750 would be debited to my account every quarter.

I suggest being clear about the bank charges, etc., before deciding on which bank account to mention in the forms.

Hope I could address your query.

Best Regards,
From Mumbai

Hi,

The PF department needs a canceled check. However, currently, I only have a very old checkbook that I received in 2008. Can I use a check from this old checkbook as canceled? Would it be considered valid? My account number, name, and branch name are still the same as when it was issued in 2008. I didn't have enough time to request a new checkbook as my last day in the company is May 5th. It typically takes 7-10 business days to receive a new checkbook.

Could you please advise if I can use my old checkbook as canceled since the account number, name, and branch are the same? Will funds still be deposited into my account if I use this check? Your help is greatly appreciated. Thank you.

You should get a new cheque book from the bank, and that leaf can only be sent to PF along with withdrawal forms. Taking 7-10 days to get it is our headache. Moreover, you cannot submit the PF withdrawal forms immediately after leaving the company, but can do so only after two months of leaving. Even if you submit the forms to the company, they will send it to the PF Office only after two months as per the law. Of course, if you leave the company due to resignation because you are leaving India, then the two months' waiting period is not required.

Madhu.T.K

Hi,

I have worked in a company, and now, 3 months later, I have applied for my PF withdrawal. My company's HR told me to bring Form 19 and 10C. Along with this, he asked me to bring a canceled check. However, I don't have my checkbook, so it is not possible for me to submit the canceled check. Other than this, I have all my bank details with me. So, I just want to confirm whether it is mandatory to submit the canceled check?

I am waiting for the reply.

Hi Vaishujadha39,

You can either submit your bank passbook instead of a canceled check. Hope this will meet your needs.

Regards,
Upender V
HR

Hi, I have a question. After submitting the cancellation cheque with the PF withdrawal form, how long will it take to get the PF amount in my account?

Hi,

I contacted my last organization's HR, and she mentioned that I need to deposit a canceled cheque along with a bank statement attested by the bank manager, along with an EPF form for PF withdrawal.

I want to clarify whether I can deposit a cheque and statement from any active SB account or if I specifically need to use my salary account cheque and statement.

Dear sir,

Greetings for the day,

The logic behind sending a canceled cheque with the withdrawal form is only because the EPFO authority should tally the individual account number, IFSC/NEFT code, and MICR code of the bank for the transfer of accumulation. Not only a canceled cheque but you can also enclose the front page of the bank passbook for the same.

Whether the account is of saving or salaried in nature doesn't matter. Any deduction on service charges will be subject to the bank instead of EPFO.

Thanks & Regards,

Sumit Kumar Saxena

Dear All,

A canceled cheque is required only if the IFSC code is not present on your bank passbook. Otherwise, only a bank passbook xerox copy is enough for withdrawal.

Regards,
Yogesh

Sir, I had submitted my old cheque (without CTS) for PF. Would there be any problem in the process? If yes, then what should I do now? Also, can I track the process? Within how many days would I get my PF?

Hi,

I am planning to withdraw my PF. The company has asked me to submit Form 10C, Form 19 along with a canceled check. The checkbook corresponding to my salary account is missing. Can I provide a canceled check leaf from any other account of mine?

The UAN portal has my salary account updated by the employer. However, I have misplaced the checkbook. Is it acceptable to submit a canceled check leaf from any other account?

Thank you.

Hello Vaishujadha39,

You can either submit your Bank Passbook instead of a canceled cheque. I hope this will meet your needs.

Regards,
Upender V
HR

Hello,

I am facing a similar situation. I do not have a cheque book available at the moment. Can I download my bank statements online and then submit them for PF withdrawal? I only have an online account, not a physical passbook from the bank.

I do have a passbook, but it belongs to a different account, not my salary account that is verified in the UAN portal.

Please advise.

Cheers!

I have applied for PF withdrawal. My name in PF account and the name in the bank account (cancelled cheque submitted) are different. However, the account number mentioned on the form 19 and the cancelled cheque is the same. Will it result in the rejection of my withdrawal request?

Regards,
Maryam

Hi, I have resigned from my previous organization and applied for PF withdrawal. I have received a message from my employer stating, "Hi, Your Pension Application is rejected due to the Associate not providing a cancelled cheque (name engraved)/bank passbook copy. Please arrange a duly filled and signed copy: fresh application, cancelled cheque (name engraved), passbook copy."

Later on the next day, I received some amount credited to my account, but not from the PF department; it's from my employer. I want to know whether I have received my PF or something else.

You may contact your office to find out if they have processed any transfers. It may not necessarily be the PF amount; it could be your pending dues. Simultaneously, you can check online the status of your PF withdrawal application and understand the current status.