Paytm EPFO ​​Restricts Credit Deposit Epf Account

The problems of Paytm Payments Bank are increasing continuously. Last month, on January 31, the Reserve Bank of India (RBI) had instructed Paytm Payments Bank to stop all banking services after February 29, 2024. Now the Employees Provident Fund Organization (EPFO) has taken a big step regarding Paytm Payments Bank and has banned account related transactions. A circular has also been issued by EPFO ​​​​on Thursday regarding this.

You will not be able to do transactions in EPF account

Employees Provident Fund Organisation (EPFO) has given instructions to stop the transactions of EPF accounts linked to Paytm Payments Bank account. That is, now users will not be able to make transactions of deposits or withdrawals in EPF accounts through Paytm Payments Bank account. In the circular issued by EPFO, the organization has ordered all its field offices to refuse to accept claims related to EPF accounts linked with Paytm Payments Bank account from February 23, 2024.

Users who have EPF account Paytm Payments Bank If it is linked with the account, then they can update it immediately. If they do not do so, then after the completion of the stipulated time limit, the monthly transactions from their account will stop. Apart from this, if a user’s EPF account is linked with Paytm Payments Bank and he is thinking of claiming to withdraw money from the EPF account, then this will not be possible now. To avoid this problem, EPF members can link a new bank account to the EPF account as soon as possible.