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Cancelled Cheque for PF
A cancelled cheque is a cheque that has been paid by a bank and has two parallel lines drawn across it with the word “CANCELLED” written between the lines.
It is considered an important document to submit when making an investment in the stock market, mutual funds, or other financial schemes, and is also required for various other purposes such as opening a bank account, opting for an insurance policy, and withdrawing money from the Employee Provident Fund (EPF).
When withdrawing money from the EPF, a cancelled cheque is required to be submitted along with the withdrawal form to confirm the details of the account to which the amount is to be directly credited.
To write a cancelled cheque, take a fresh cheque and draw two parallel lines across it, then write “CANCELLED” in capital letters between the lines.
It is important not to write any additional information on the cheque, such as the payee’s name, amount, or signature.
Step Bys Step Online process to cancel a cheque for PF withdrawal
To cancel a cheque for PF withdrawal, follow these steps:
- Step 1: Take a fresh cheque and draw two parallel lines across it.
- Step 2: Write the word “CANCELLED” in capital letters between the lines.
- Step 3: Do not write any additional information on the cheque, such as the payee’s name, amount, or signature.
- Step 4: Submit the cancelled cheque along with the withdrawal form to confirm the details of the account to which the amount is to be directly credited.
It is important to note that a cancelled cheque is required to be submitted while withdrawing money from the Employee Provident Fund (EPF) to verify the account details of the person who withdraws. A cancelled cheque is also required for various other purposes such as opening a bank account, opting for an insurance policy, and withdrawing money from other financial schemes.
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FAQS
What is a cancelled cheque?
A cancelled cheque is a cheque that has been paid by a bank and has two parallel lines drawn across it with the word “CANCELLED” written between the lines.
Why is a cancelled cheque required for PF withdrawal?
A cancelled cheque is required for PF withdrawal to verify the account details of the person who withdraws.
How to write a cancelled cheque for PF withdrawal?
To write a cancelled cheque, take a fresh cheque and draw two parallel lines across it, then write “CANCELLED” in capital letters between the lines. Do not write any additional information on the cheque, such as the payee’s name, amount, or signature.
How to cancel a cheque online for PF withdrawal?
To cancel a cheque online for PF withdrawal, you can login to your EPF account and download the PF withdrawal form. Fill out the form and attach a scanned copy of your cancelled cheque. Submit the form online and your PF withdrawal request will be processed.
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