EPFO ties up with City Union Bank for remittance facility

City Union Bank (CUB), one of the oldest private sector banks in India, has tied up with the Employees’ Provident Fund Office (EPFO) for remittance of EPF payments. The EPF payment facility was officially launched by R. Vijay Anandh, executive director, CUB, and Maneesh Agnihotri, Regional PF Commissioner, Tamil Nadu, in Chennai.

In response to a query about the clients the bank is targeting, Mr. Anandh said many MSMEs and SMEs within its network would be the primary focus. “We will train our bank staff on this,” he added. This EPF remittance facility will enable the employers with CUB accounts to make the EPF remittance seamlessly through net banking.