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b.sreenivasa Rao (Legal Services)     27 February 2014

Is it compulsory to deposit pf challan with sbi bank only

Dear All,


Please give me correct answer for my query that one of my frd's Pvt  Ltd Company had Bank Accounts with HDFC bank and and for depositing PF challan and Cheque they go near by SBI Bank.  But the banker from SBI discouraging to take PF challan and chq and they are telling to open Current Account with SBI.  


IS it compulsory to open SBI Current A/c with that branch.  As the company directors are not interested to open another SBI Account because they many accounts just like EEFC and current and Salary A/c with HDFC.


For opening another Account with SBI the companies as to follow plenty of documentation.


Please suggest me that is it compulsory to open C/A with SBI or the Banker can accept PF Challans without opening A/c.




Sreenivasa Rao B 


 3 Replies

NRK MURTHY (Manager)     27 February 2014

Dear Sir,


No need open SBI account. you will pay pf challans any pf department notified SBI only .Again your facing same problem you can contact in particular area RPF Commissioner based on that they will send circular to the particular bank..


Your problem will be sort out.



Sudhir Kumar, Advocate (Advocate)     27 February 2014

no need opening account in SBI


but what is your problem in opening account there.

Kumar Doab (FIN)     27 February 2014

It is old tactics of forced selling usually adopted by seasoned bankers, nothing else.

It is against the principles of fair banking.


If you want to teach them a lesson, record audio/visual. 

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