South Indian Bank Launches EPF Payments Through SIBerNet in Collaboration with Employees' Provident Fund Organisation

South Indian Bank (SIB) has announced the launch of Employees' Provident Fund (EPF) payment services through its internet banking platform, SIBerNet, in collaboration with the Employees' Provident Fund Organisation (EPFO). The integration enables employers and establishments to remit EPF contributions seamlessly through the Bank's digital banking platform.

The integration was inaugurated by Uttam Prakash, Regional PF Commissioner, Kochi Region and UT of Lakshadweep, along with P R Seshadri, Managing Director & CEO of South Indian Bank, and Biji S S, SGM & Head - Branch Banking.

With the successful completion of technical integration between the Bank and EPFO, employers, establishments, and other entities can now remit EPF contributions, dues, remittances, and related charges directly through the EPFO portal using SIB's net banking services.

Speaking on the occasion, P R Seshadri, Managing Director & CEO of South Indian Bank said, "The launch of EPF payments through SIBerNet marks another step forward in our commitment to providing seamless and secure digital banking solutions to our customers. By enabling direct integration with EPFO, we aim to simplify statutory payments for employers and businesses, while strengthening our digital ecosystem to support compliance and convenience."

With this initiative, South Indian Bank continues to strengthen its digital capabilities and expand its suite of services designed to support businesses and institutions across India.

Shares of The South Indian Bank Limited was last trading in BSE at Rs. 38.01 as compared to the previous close of Rs. 39.01. The total number of shares traded during the day was 1447819 in over 8053 trades.

The stock hit an intraday high of Rs. 38.83 and intraday low of 37.83. The net turnover during the day was Rs. 55256923.00.

Source : Equity Bulls

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TheSouthIndianBank INE683A01023 EPF PaymentServices SIBerNet EPFO