Home / India Tax / Employee Provident Fund in India

Employee Provident Fund in India

Employee Provident Fund [also know as EPF] is one of the main platforms of savings in India for nearly all people working in Government & Public sector  Organizations. It is important for every working individual to understand the importance of EPF and how it can benefit him or her.

The Employees Provident Fund Organisation (EPFO), is a statutory body of the Indian Government under Labour and Employment Ministry. It administers a compulsory contributory Provident fund, pension and an insurance scheme for Indian Work force. It is one of the largest social security organisations in the world in terms of members and volume of financial transactions undertaken [source: Wikipedia]

Epfo

It is mandatory for every organization who have more than 20 employees on the payroll. If you are working in an organization who have more than 20 employees, and the employer is not giving you EPF benefit, you can official complaint to EPF organization.

Employee Provident Fund Benefits

EPF scheme benefits employees in following essential needs:

  • Retirement
  • Medical Care
  • Housing
  • Family obligation
  • Education of Children
  • Financing of Insurance Polices

How EPF works?

Under the EPF Scheme both the employees and employer contribute equally to the Employee Provident fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month.

The rate of is fixed at 10% in the case of following establishments:

  • Any establishment with less then 20 employees.

  • Any sick industrial company and which has been declared as such by the Board for Industrial and Financial Reconstruction

  • Any establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth and

  • Any establishment engaged in manufacturing of  (a) jute  (b) Breed  (d) coir  and  (e)  Guar gum Industries/ Factories.

How to withdraw EPF accruals?

A member can withdraw upto 90% of the amount of provident fund at credit after attaining the age of 54 years of age or within one year before actual retirement on superannuation whichever is later. EPF form 19 needs to be downloaded, filled and duly submitted to the concerned Provident Fund Office.

You can access entire EPF Acts at official EPF site:

  1. Employees’ Provident Fund Scheme, 1952
  2. Employees’ Deposit Linked Insurance Scheme, 1976
  3. Employees’ Pension Scheme, 1995 (replacing the Employees’ Family Pension Scheme, 1971)

If you have any questions regarding Employee Provident Fund, please do not hesitate to let us know  – We would be glad to answer your questions.

29 comments

  1. Ganesh Ambadas Bolavatri

    sir mai asian paints (i) ltd c&f shiv krupa ag. 1995 to2005 kam kiya pl sir muje mera pf number chahiye

  2. I would like to know whether it is mandatory for any organisation with more than 20 employees to have a PF scheme? if YES then is there any clause available that the employee can opt out for PF scheme in case he doesn’t want to take the PF benefit? Kindly give your comments.

  3. Sir what if the employer is not adding anything to pf contribution but deducting from employee salary.

  4. Sir, I work at an MNC where the company is deducting both the Employer and Employee Contribution from my Salary. The Employer contribution is deducted in the hidden form i.e by reducing in the Other allowance and the employee contribution is deducted under the head deduction. Can you please confirm if the would come under EPF act and kindly assist me to what should to do further?

  5. Sir, I have worked as assistant engineer in Dymos lier Automotive india limited in irnkattukottai sriperumputhur kancheepuram district in tamil nadu . i have resigned from that post on 8/10/2012. I have submitted all the records to the company to get my epf . Till now i have not received my epf amount when inquired to the company they are not giving any reply . Kindly guide to get my epf amount R.Venkatesh

  6. Sir My name is Linto K J I have been working ARTEMIS HR Services cbe (p) Ltd.65 Sundaresa iyer laout,Trichy road coimbatore-18 since 2010.my Emp ID TW 1097 the company PAN NO AAFCA9669M company is stop now.But I did not get my PF NO.if any posibility to get my pf no. with regards, LINTO K J

  7. SHEKHAR CHANDRA

    Dear Sir, I filled up the PF withdrawal form on 2008 my PF no.is MH/41081/44827. I want to know how to credit the amount of PF. So please help me in this regards.

  8. espected concern person I want to know my total balance of my PF contribution.my account number was MH/PUN/305098/007 ,E K Electronics Pvt.Ltd. Thanking you

  9. My PF account has not been settled yet: Account No: MH/1064/12632

  10. Sharma Arun Kumar

    I AM CONTRACTOR I HAVE FIVE WORKER CAN I GET EPF NO.

  11. sir, I have worked with m/s dynamic rubber and plastic pvt.ltd., as depot assistant in the year 1987-1989, my p.f amount has been deducted , the company was in whitefield , bangalore, in the year 1990 the company is locked out, but the company has deposited the complete p.f. amount of the emploees in the p.f office, but I could not get the p.f. a/c., now how can I get my p.f. a/c and my balance p.f. amount status please clarify, thanking you.

  12. Mohammad Naushad Ansari

    Dear Sir/Ma’am It was around 2 years to resign from Kirloskar Construction Company but I do not get my PF amount. My PF account no. is 568 (PNAMB66969).

  13. can any employer deduct PF without providing employee PF A/c no.

  14. sir, I want to know my PF amount credited or not,i filled up the PF form on 17-may-2012 my PF no.is MH/41081/44827 so please help me with the same above.

  15. kindly narrate the three EPF schemes.

  16. Dear Sir/Madam i want to know about the current changes in the epf amendments by the indian governments in running year 2012-2013

  17. Raghavan kumar

    sir, i am working at anex marine engineer co. ltd. (Andaman, port Blair) at 01-07-2010 to 0-06- 2011 . this company is asked 12% of my payments to take. for epf but do not give any resipet and any epf no. please give to suggestion. how to recover the my epf.

  18. Respected concern person I want to know my total balance of my PF contribution.my account number was AS/7221/10,Eastern plaza ltd Thanking you

  19. ABONI RAJBONGSHI

    Dear sir/Madam i want to know my total deposited amount till date.my account number was AS-2528/444.Hope you will kindly forward my required datails. Regards Aboni Rajbongshi down town hospital ltd

  20. How to know my PF A/C. Balance? I am Working in levare consaltancy

  21. Can i open an individual Provident Fund Account?

  22. and also want to know the balance till date.

  23. I want to know the status of my EPF which i prossed.

  24. Sanjana Ambavale

    when the P.F.deducted after joining of 6 month or immediately if any probationary period of workers then it will required to ded. the PF If suppose one employee is working in our field and we deducted his/her pf from last 6 month and suddenly he left the job due to illness or any other reason whether he/she got PF facility or not

  25. How can one transfer his EPF account to another and what are the documents needed while processing?

  26. I want to knot the balance of my PF account vide No. 26398/181. I am working in Amco Batteries Limited, Bangalore.

  27. Madhukar Sangwan

    give a brief about all three EPF schemes.

  28. Banyan Financial Advisors

    I think there are certain more aspects related to EPF such as taxation and its relative importance in the portfolio of a person. This link beautifully explains the intricacies involved in PF http://insight.banyanfa.com/?p=212

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

who's online