EPF (Employee Provident Fund) in India
The Employee’s Provident Fund organization of India (EPFO) is the one of the largest social security organization of India which is under the Ministry of Labour and Employment, government of India The organization is responsible for the provision of Provident Fund Scheme, Pension Scheme and an Insurance Scheme for the employee.
Every employee in India have the right for EPF if he or she is paid a salary above Rs. 6,500/- (Per month) employee have the right to ask for PF and the employer should pay an amount equivalent to the amount pays by the employee. An employer with 20 or more employee should join EPF.
Online PF transfer and withdrawal
From this July1, 2013 onwards the EPFO offering online PF transfer and withdrawal facilities for the employee. Settle the claims faster is the aim of this online service rather than the traditional method of submission of application while changing the job. With the traditional method there is chance of losing the data from the system. Online method of processing allows the work smooth and fast. Subscribers will be provided with a permanent EPF account number and it will be used in the online processing throughout.
Eligibility criteria for EPF
Notifications for the new members
- A new member eligible from the date of joining itself for the PF
- Employee with salary above Rs.6500/-
- An employer with 20 or more employees should join EPF
- Consent of employer for the new employee
- Declaration of previous employment details if any
- Complete form No.11 to the employer if you had previous job
- Complete the form No. 2 with details of family
- Mention the rate of payable contribution
- Minimum of 12% of rate of contribution is needed
Notifications for the existing members
- Complete the form No. 2 with new details regarding marriage, legal adoption, change of nominee etc
- If the existing member have a Scheme Certificate , just submit the same to the EPFO office too.
- You have benefits like withdrawals, death insurance, advances, pensions, etc.
The EPF member now have the facility the EPF e-Passbook for the services. Employees Provident Fund Organization (EPFO) has launched this online passbook facility which is known as EPF e-Passbook. You can check your EPF status at anytime through this facility.
How to get EPF e-Passbook?
- Just register with your mobile number
- Choose one document from this list: PAN Number, Aadhar (UID), NPR (National Population Register), Bank Account Number, Voter ID Card, Driving License, Passport Number, Ration Card Number.
- Provide the number of your selected document
- Give the name as on document and your email ID
- Write the letters seen in image
- Click on the GET IN button
- Obtain your 4 digit pin number from mobile and fill it in place
- Submit the request
- You will get confirmation notification in your mobile
- Now, you can check your EPF Status Online by log in in member portal.
Some tips to care about your EPF e-Passbook
- Use one mobile for the registration process
- Later you can change your mobile number if needed
- One EPF account is visible for one under establishment
- Transfer of old EPF to new one is possible
- Settled accounts cant see
- Register using different ID and mobile number for different accounts