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]
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:
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Any establishment with less then 20 employees.
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Any sick industrial company and which has been declared as such by the Board for Industrial and Financial Reconstruction
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Any establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth and
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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:
- Employees’ Provident Fund Scheme, 1952
- Employees’ Deposit Linked Insurance Scheme, 1976
- 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.
It is not mandatory on my part to opt foe EPF since I employ only 5 persons but in case I opt for it ,can I withdraw at a later date? I will not be getting the contract unless I register with P.F.
in a establishment the employees are less than 20 members how can i calculate the pf and pension in 10%
Dear sir,
if any organisation less than 20 person,minimum wages as per govt. rule,unskilled 278 something. per day
278*26=7228 is the basic salary,per month,
but the company deduct 388 for PF,and show the basic 3232 per month.
how it possible,please give me details
Dear Sir/ Madam,
I am working with an individual insurance (LIC Agent) advisor since 1998. At that time he had a 1-2 employees and now he has 12-15 employees on record. I want to know that may I eligible for my EPF or not. My employer has not have registered firm even not applied for EPF registration also. Now he harrasing me to leave the job. He has sent me the notice to leave the job . What is my rights to do against him. Please help me advice me the right things can be done in my favour. Waiting for your prompt response………….
i have submited my resingnation after completing 60 years of service when can i submit my claims when can i expect my epf amount
Dear Sir,
My Father works in a company from 1956 to 1994 years.But that year the company will be locked out.How to withdraw my fathers p/f balance.
Please sir…..
how can i get my epf balance checked ???
Dear sir
I want to know E PF Deduction my company as a whole Packing & Moving Industries at that time total employee will not more than 8 persone . Can we avail the facility of E PF Benefit ? What documents require by PF office of employer & Employee?
please give me suggestion as soon as possible
Thanks . Imran
dear sir we are running the pvt ltd co. we had no. of 4 employees in our company then we want to know we are applicable for the PROVIDENT FUND deduction pleas tell us
i want to start a business in mumbai (thane) as a whole sale distribution of medicine at thatl time total employee will not more than 3 persone .
Can i give the facility to them ?
What documents require by PF office of employer?
Thanks .
Dayashankar.
Hi ,
please help to get the answer of my question.
Why is my compney dudect both emploee and employer provident fund in my salires…
Plz ans my qust. Employer p f is paid by self compney side not employee side.. Pls help me clear the doubt and about policy.
Thanks
Raghvendra
Is it possible to withdraw the pf amount anytime? If yes, how to withdraw the amount?
sir mai asian paints (i) ltd c&f shiv krupa ag. 1995 to2005 kam kiya pl sir muje mera pf number chahiye
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.
Sir what if the employer is not adding anything to pf contribution but deducting from employee salary.
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?
Are you an employee of Amazon?
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
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
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.
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
My PF account has not been settled yet: Account No: MH/1064/12632
I AM CONTRACTOR I HAVE FIVE WORKER CAN I GET EPF NO.
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.
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).
can any employer deduct PF without providing employee PF A/c no.
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.
kindly narrate the three EPF schemes.
Dear Sir/Madam
i want to know about the current changes in the epf amendments by the indian governments in running year 2012-2013
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.
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
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
How to know my PF A/C. Balance? I am Working in levare consaltancy
Can i open an individual Provident Fund Account?
and also want to know the balance till date.
I want to know the status of my EPF which i prossed.
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
How can one transfer his EPF account to another and what are the documents needed while processing?
I want to knot the balance of my PF account vide No. 26398/181.
I am working in Amco Batteries Limited, Bangalore.
give a brief about all three EPF schemes.
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