According to Reserve Bank of India rules, you are allowed to remit from your NRO account up to $1 million per financial year
I’m a non-resident Indian and I used to have an Employees’ Provident Fund (EPF) account with my former employer in India. I don’t know the UAN (Universal Account Number) to check the balance of my account. I’m also unable to register for a UAN as the mobile number linked to my Aadhaar, which is required for receiving an OTP as part of the registration process, is currently inactive. Can you please guide me on how I can proceed with the EPF withdrawal process in this case?
You may write to your employer to help you with securing the details of your PF balance. Or you may also submit an application in writing to your specific jurisdictional EPFO officer so that he/she can help you with the requisite details.
Usually, members need a UAN to be able to access their passbook and know their PF balance. Maybe you should consider using a mobile number in India of a trusted family member or friend to register your UAN so that you can initiate the process of claiming your PF balance and closure of your account.
According to Reserve Bank of India rules, you are allowed to remit from your NRO account up to $1 million per financial year. To make a transfer from an NRO account, you need to submit the required forms and a certificate from a chartered accountant. However, these forms are not required if the remittance amount is not taxable in India. PPF withdrawals are not taxable in India. It is advised that you seek help from an expert while making this transfer so that the required conditions are met. The bank making the transfer may still require you to submit a certificate; therefore, do consult an expert before you undertake this transfer.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
