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EPF Grievance Management System: EPFiGMS

Wednesday, April 17th, 2019 Amritesh 212 responses

Subscribers to Employees’ Provident Fund (EPF) have the option to lodge complaint pertaining to their PF account through the online EPF Grievance Management (EPFiGMS) system for prompt action. Employees Provident Fund internet Grievance Management System (EPFiGMS) platform provides direct communication between the Members and EPFO. Enabling Members to raise their concern in front of competent authority and get their concerns resolved online. The process to register the grievance is very simple and easy. However, in order to register any EPF related grievance, Subscriber is required to provide their active Unique Account Number (UAN). Higher Pension Under EPS For Members Employees' Pension Scheme (EPS) Deferred Withdrawal Calculation of Pension Under Employees' Pension Scheme (EPS) Withdrawals and Advances Under EPF EPF Grievance…

EPF Balance Transfer Online For Employees

Saturday, March 16th, 2019 Amritesh 12 responses

Employees Provident Fund Organization (EPFO) has made it possible for the Subscribers to transfer their respective EPF Balance (contributions & interest) online through their previous or present employer. Currently, Subscribers need to manually submit the Transfer claim request.  However, starting next financial year EPFO is planning to do away with the manual process and introduce automated balance transfer for the Subscribers. This would benefit Employees during job switch. The system automation would allow EPFO to transfer the balance to the active EPF account of the Employee. The EPFO will automatically transfer EPF balance from the previous employer to the current EPF account, as the new employer files the monthly return.  The option of EPF Balance Transfer Online is available on…

Withdrawals And Advances Under EPF

Monday, March 5th, 2018 Amritesh no responses

Subscribers to Employees’ Provident Fund (EPF) are eligible for Withdrawals and Advances subject to fulfillment of certain conditions relating to service and purpose for availing it. Subscribers may also apply for Withdrawals and Advances online through the EPFO’s unified portal. Members of EPF are required to log on to the EPF Members portal using their UAN and Password. After logging on to the Member Interface, Subscriber is required to go to "Online Services" Section and apply for claim under the same. However, to be able to apply for the Withdrawals and Advances online, Subscriber is required to seed his/her Aadhaar ID, PAN and Bank Account Number with the respective UAN (Universal Account Number). Once all the details are uploaded it…

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

Monday, June 5th, 2017 Amritesh 10 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 is possible. Online withdrawal of EPF and EPS Fund helps Individual to settle claims without having to wait for the respective Employer to initiate the process. The online settlement of claim is made possible through EPF unified portal which was recently launched by EPFO. Even Claim Transfer while switching jobs is also possible through the Subscriber portal. This has made online withdrawal of EPF and EPS Fund easy and simple. *The facility for online withdrawal has been launched and it is completely functional. The EPFO has also shortened the timeline for settlement of claims from 20 days to…

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.  EPF Withdrawal 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…

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 2 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…

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.…

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…

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