The Employees’ Provident Fund Organisation (EPFO) has decided to restrict credits and deposits into EPF accounts that are linked with Paytm Payments Bank, as per the recent announcement made by EPFO. This decision has been taken due to concerns raised about the safety and security of funds deposited in Paytm Payments Bank. EPFO has advised its regional provident fund commissioners to stop any credits into accounts linked with the Payments Bank, although withdrawals from these accounts are still allowed. This move has been made to protect the interests and savings of EPF members and ensure the safety of their funds. Paytm Payments Bank is an important player in the digital payments space in India, providing various banking services to its customers. However, this restriction imposed by EPFO may affect the inflow of deposits into Paytm Payments Bank. It is important for EPF members to be aware of these developments to ensure the safety of their funds. For more details on this matter, click on ‘Read More’ to access the complete article.
