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EPFO - Facilities, Structure, EPF Grievance Portal, Circulars, Latest News

Team AckoFeb 1, 2023

After retirement, you may or may not get a pension depending on your type of employment. If you are not eligible for it, you must start saving money at the earliest to build a corpus that will help you with a steady source of income when you retire. This is where your Employee Provident Fund or EPF can help. And there’s a government institution called Employees’ Provident Fund Organisation (EPFO) that deals with it. Let's dive deep into the topic.

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Contents

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Native name

कर्मचारी भविष्य निधि संगठन

Website

epfindia.gov.in

Founded

4th March 1952

Headquarters

New Delhi

Owned By

Ministry of Labour and Employment, Government of India

Latest News on EPFO

  • TDS rate on taxable withdrawal of EPF has been lowered to 20%

  • EPFO launches Nidhi Aapke Nikat 2.0 project - 30-Jan-2023

The Nidhi Aapke Nikat 2.0 project encourages EPFO members to visit EPFO offices to resolve grievances. EPFO will reach out to members through the Nidhi Aapke Nikat 2.0 project, enhancing access and exposure to EPFO in all the Indian districts. The project's purpose is to reach out to all regions on a monthly basis. Nidhi Aapke Nikat 2.0 will be held on the 27th of every month beginning in January 2023. If the 27th of the month is a holiday, the meeting will be held on the next working day

  • EPF passbook online service restored - 19th Jan 2023

After being unavailable for at least a week, the Employees' Provident Fund (EPF) passbook online service is now restored, allowing members to view their balance and interest credit data.

  • Employees’ Provident Fund Organisation announces new online services for pensioners - 17th Jan 2023

New online services are being introduced to allow members to avail them from the comfort of their own homes. The newly introduced initiative will help pensioners to keep track of their pensions. Here are some services announced by the EPFO.

  • Pension passbook can be viewed online.

  • Online pension claim submission (through EPFO member portal/UMANG app).

  • Digital life certificate submission from home via mobile app.

  • Pension payment order (PPO) download from Digi-locker.

What is EPFO?

EPFO stands for Employees' Provident Fund Organisation. It is an Indian government organisation that maintains and supervises the Employees' Provident Fund (EPF), a retirement savings plan for employees in the organised sector. The EPF is a mandated employee savings plan in which the employee and the employer contribute a portion of the employee's salary to the fund. The EPFO handles the EPF funds and offers services like withdrawals, funds transfers between accounts, and claim settlement.

What are the benefits of EPFO?

Here is a list of benefits offered by EPFO.

1. Retirement savings

Employees in the organised industry can save for their retirement through the Employees' Provident Fund (EPF). The fund, which the employee can withdraw after retirement, is funded by a portion of the employee's pay that is contributed by both the employer and the employee.

2. Tax benefits

Contributions to the EPF are tax deductible under Section 80C of the Income Tax Act. The interest earned on the EPF is tax-free as well.

3. Withdrawal of funds

EPFO offers services such as withdrawing funds, transferring funds between accounts, and settling claims. EPFO members have the right to withdraw their savings in the event of specified situations such as retirement, resignation, or termination of work.

4. Death cover

EPFO provides its members (as per the applicable terms and conditions) with a minimum of Rs 2.5 lakhs and a maximum of Rs 7 lakh insurance protection in the event of death.

5. Loan facility

EPFO members can also borrow money from their EPF account for specific occasions such as home construction/purchase, marriage of self/daughter/son, and so on.

6. Nomination facility

EPFO also offers nomination services to its members, allowing them to name someone to receive money in the event of the member's death.

7. Employee pension scheme

A social security scheme that provides a monthly pension to employees after they retire.

How to register for EPFO

Here are the steps highlighting how to register for EPFO.

Step 1: Obtain UAN

To register for EPFO in India, the first step is to obtain a Universal Account Number (UAN). The UAN is a 12-digit number assigned to each employee by the EPFO. It remains constant throughout an employee's career, regardless of how many positions they hold. It is available via the employer or on the EPFO website.

Step 2: Activation of UAN

Once you have obtained the UAN, it needs to be activated by your employer. After the activation, you will receive a SMS with your UAN and other details.

Step 3: Login to UAN Member Portal

Visit the https://unifiedportal-mem.epfindia.gov.in/memberinterface/ and login using your UAN and password.

Step 4: Complete KYC

KYC (Know Your Customer) details like PAN, Bank Account, Aadhaar, etc., are to be updated in the UAN member portal.

Step 5: Link with EPF account

Link your UAN with your EPF account by providing your previous EPF account details and other required information.

Step 6: Submit declaration form

After linking your UAN with your EPF account, your employer needs to submit the Declaration Form (Form 11) to the EPFO office.

Step 7: Wait for approval

Once your employer submits the Declaration Form, it will be verified by the EPFO office and your EPF account will be activated.

Online registration for EPFO

The online registration process for EPFO in India is as follows.

  • Step 1: Obtain UAN online 

  • Step 2: Activation of UAN

  • Step 3: Login to UAN Member Portal

  • Step 4: Complete KYC

  • Step 5: Link with EPF Account

  • Step 6: Submit Declaration Form (if required)

  • Step 7: Wait for Approval

To register online, you will need your UAN and other personal details such as your name, date of birth, and PAN (Permanent Account Number)

How to check your EPFO balance check

Here are ways to check your EPFO balance.

  • Through the EPFO Member e-Sewa Portal

You can check your EPF balance by logging in to the EPFO Member e-Sewa Portal using your Universal Account Number (UAN) and password. Once logged in, you can view your EPF balance and download your passbook.

  • Using the EPFO Umang App

You can also check your EPF balance by downloading the EPFO Umang App on your mobile phone. After installing the app, you can log in using your UAN and password to check your EPF balance and download your passbook.

  • SMS service

You can check your EPF balance by sending an SMS to the EPFO's official number 7738299899. The format of the SMS is 'EPFOHO UAN' where UAN is your 12 digit UAN number.

  • Call EPFO customer care

You can also check your EPF balance by calling the EPFO's customer care number at 011-22901406.

Note: You should have your UAN activated and linked with your EPF account in order to check your balance through the above methods.

How to withdraw from your EPFO account

Here are different ways in which you can withdraw money from your EPFO account.

  1. Online withdrawal through the EPFO Member e-Sewa Portal

  2. Withdrawal form through the employer

  3. Withdrawal form through the EPFO office

Please visit the https://www.epfindia.gov.in/site_en/WhichClaimForm.php for more information.

You can withdraw from your EPFO account for the following reasons.

  • Retirement

  • Resignation from your job

  • Unemployment

  • Termination of employment

  • Illness

  • Education

  • Marriage

  • Home construction

  • Natural disasters

Document requirements for EPFO withdrawal

To withdraw funds from your EPFO (Employees' Provident Fund Organisation) account, you must provide the following documents.

Document 

Description

Withdrawal form

You can obtain the withdrawal form from the EPFO website or from your HR department.

Identity proof

You will need to submit a copy of your government-issued ID such as Aadhaar card, PAN card, voter ID, passport, or driving license.

Passport-sized photograph

You will need to submit a recent passport-sized photograph.

Bank account details

You will need to submit a copy of a cancelled cheque or a bank statement as proof of your bank account details.

Proof of service

You will need to submit proof of service, such as a letter from the employer or a copy of your appointment letter.

Proof of address

You will need to submit a copy of a recent utility bill or a copy of a government-issued ID as proof of your address.

Note: The above list is indicative and may vary from the actual documents required for withdrawal.

Frequently asked questions

Here are some common questions about EPF and EPFO.

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Who is eligible to contribute to the EPF?

Indian employees who have completed 18 years of age, and draw at least Rs. 15 thousand per month from an organised sector are eligible to contribute to EPF.

How much do employees and employers have to contribute to the PF?

Employees can contribute 10% to 12% of their salary to the PF account.

What is the role of the Employees' Provident Fund Organisation (EPFO) in managing the PF?

The Employees' Provident Fund Organisation (EPFO) is responsible for the administration of the EPFO.

How do I resolve disputes regarding my PF account?

You can contact the PF authorities by calling the toll-free number 1800118005. Alternatively, you can send an email to the following address.

  • For employees

[email protected]

  • For employers

[email protected]

Sources:

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet, and is subject to changes.

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