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      Employees’ Provident Fund (EPF) Online Grievance Management System: EPFiGMS

      Friday, November 17th, 2017 Amritesh no responses

      Subscribers to Employees’ Provident Fund (EPF) have the option to lodge complaint pertaining to their PF account through the Online Grievance Management portal for prompt action. Subscriber may easily register their complain online and monitor the status on the portal. The process to register the grievance is very simple and easy. However, for registration of any grievance, Subscriber is required to provide their respective valid Unique Account Number (UAN). The portal provides direct platform to the Subscribers to raise their concern in front of competent authority and get their concerns resolved. Employees Provident Fund internet Grievance Management System (EPFiGMS) is the online portal for the Subscribers to register their grievances. It is a common platform for all, Employees, Employer and…

      Online Withdrawal of Employees’ Provident Fund (EPF) and Employees’ Pension Scheme (EPS)

      Monday, June 5th, 2017 Amritesh no responses

      Employees’ Provident Fund (EPF) and Employees Pension Fund (EPS) withdrawal is a real pain for most of the subscribers. But now online fund withdrawal will be possible. Currently, Subscribers need to wait anywhere between 25 to 35 days for the settlement of their claim. EPFO has issued a notification regarding the same. The online settlement of claim will be made be possible through EPF unified portal which was recently launched by EPFO. Even Claim Transfer while switching jobs is also possible through the Subscriber portal. *The facility for online withdrawal has been launched but it seems that it may need some more time for configuration before becoming functional. The EPFO has also shortened the timeline for settlement of claims from…

      Employees Provident Fund (EPF) Online Claim Transfer

      Friday, May 26th, 2017 Amritesh 2 responses

      Employees Provident Fund (EPF) has made it possible for the Subscribers to transfer claims online through their previous or present employer. Subscribers switching jobs may now submit the transfer claim online, the same will be processed within few days. The option to apply for transfer of claim is available on the EPFO portal. In order to apply for claim transfer online, Subscribers need to activate their UAN. Following which the application for the Transfer Claim may be made. Applying for Transfer of Claims Online Log onto EPFO portal and Click on the Link for Online Claim Transfer Portal. (www.epfindia.gov.in) Check Eligibility for Online Transfer of Claim through the option made available to the Subscribers- This can be done by providing…

      Employees Provident Fund (EPF): Withdraw 90 per cent of the Fund to Buy a House or Payment of Home Loan EMI

      Wednesday, May 24th, 2017 Amritesh no responses

      Employees Provident Fund (EPF) Subscribers may now withdraw up to 90% of their Provident Fund (PF) to pay for the down payment/EMI towards purchase of a new house. EPFO has now allowed subscribers to withdraw accumulations from the Fund by amending the Act. The new paragraph 68-BD will enable Subscribers to withdraw up to 90% of the fund from their account. Norms have been relaxed to encourage Subscribers to buy their own home. As Government has set a target of “Housing for All by 2022”. The move will benefit more than 4 crore Subscribers to the EPF. The withdrawal will include Employee’s contribution as well as Employer’s Contribution along with accumulated interest. However, the EPFO has set down certain prerequisites…

      Employees’ Provident Fund Scheme 1952

      Monday, April 17th, 2017 Amritesh 3 responses

      Employees’ Provident Fund Scheme, 1952 came into effect on 4th March,1952. It is a statutory body under the Government of India and under the regulation of Ministry of Labour and Employment. It was introduced to provide a form of Social Security to the Workers and Employees and safeguard their future. It provides lumpsum benefits to the subscribers on retirement. Employees’ Provident Fund (EPF): Latest Recommendations Employees’ Provident Fund (EPF) Reforms: Online PF Withdrawal/Settlement The Act also covers:- Employees' Pension Fund (EPS) Employees' Deposit Linked Insurance Fund (EDLI) APPLICABILITY OF THE ACT Every establishment which is a factory engaged in any Industry specified in Schedule I and in which 20 or more people are employed. Any Establishment employing more than 20 people…

      Employees’ Provident Fund (EPF): Interest Rate, Recommendation on Loyalty Bonus and Insurance Benefit Under ELDI

      Friday, April 14th, 2017 Amritesh no responses

      The EPFO has clarified that Subscribers to EPF Fund will receive an interest of 8.65% on the contribution for the Financial Year 2016-17. The clarification comes after reports suggested that Finance Ministry was looking to reduce the rate to 8.20% for the financial year as the rates for small savings scheme were slashed by 0.10% earlier in the month. Employees Provident Fund: All You Need To Know The Central Board of Trustees (CBT), apex decision making body of EPFO has also recommended following reforms for the benefit of the subscribers to the fund. The recommendations require the approval of the Government to be implemented. Initially, the benefits will be applicable for 2 years and will be reviewed on expiry of…

      Withdrawals And Advances Under EPF

      Sunday, March 26th, 2017 Amritesh no responses

      Subscribers to Employees’ Provident Fund are eligible for Withdrawals and Advances subject to certain conditions relating to service and purpose for availing it. New Composite Claim Form (CCF) has been issued for the same along with relaxation in the document requirements for the withdrawal. Please refer to the form shared below. Withdrawal and Advances are available to the Employees’ for the following Purposes:- Marriage/Education Treatment Purchase or Construction of Dwelling House Repayment of Housing Loan Addition/Alteration of House Repair of House Lockout Withdrawal Prior Retirement Other Advances For Marriage/Education Medical Treatment Purchase or Construction of Dwelling House Repayment of Housing Loan For Purchase of Site/Plot Addition/Repair/Alteration of House Lockout If the company is closed for more than 15 days and…

      Employees’ Provident Fund Scheme: Composite Claim Forms For Fund Withdrawal (CCF)

      Friday, March 3rd, 2017 Amritesh 3 responses

      The Employees’ Provident Fund Organization (EPFO) has been introducing changes to simplify the withdrawal process for the Subscribers to the Employees’ Provident Fund (EPF). Recently, the EPFO has introduced a single page Composite Claim Form (CCF) which would ensure hassle free claim processing for the subscribers whose Aadhar Number and Bank details have been seeded with the Universal Account Number (UAN). The EPFO has taken measures to smoothen the claim process, the changes pertaining to the same has been discussed below. CCF (Non Aadhar) has also been issued for Subscribers yet to seed their account with UAN. EPFO in its pursuit to make the service more transparent and efficient as part of their e-governance drive has introduced multiple reforms including…

      Employees’ Provident Fund (EPF) Reforms: Online PF Withdrawal/Settlement

      Sunday, October 25th, 2015 Amritesh 4 responses

      Employees’ Provident Fund Organization (EPFO) is planning launch the online PF withdrawal facility by August,’16 end. It will not only reduce the paperwork for the statutory body but will also ensure faster settlement of claims. Individuals will be able to withdraw their PF online and won’t need to wait for months to get their dues. EPFO has currently got over 5 crore subscribers and the manual process is pretty time consuming. It has been trying to move to a digital platform for quite some time now and launch of Unique Identification Number (UAN) last year was a significant step towards the same. EPFO is already in the process of digitizing and setting up Central Data centres to facilitate the process.EPFO…

      Universal Account Number (UAN): Registration and Subscribers Guide

      Thursday, October 30th, 2014 Amritesh no responses

      Universal Account Number is launched for Provident Subscribers who have contributed to the fund between 1st January,2014 and 30th June,2014 and beyond.Employers have been seeded to complete the KYC for their respective employees. Employees are required to submit copies of documents like PAN, Passport, Voter ID Card to complete the process.Following which Employers will be provide their respective employees with the UAN.Subscribers to the EPF can follow the links provided below to check their UAN status and also find the procedure to get themselves registered. They can access their account once they get registered.UAN will help you in paperless transfer of fund, get monthly fund updates and also e-Passbook for your PF account.Follow the links provided below to check your…