EPFO vide its circular no. 1164 dt. 9th Apr-15 has suspended the minimum monthly pension of INR 1000 to its pensioners and has asked its field officers to release pension at earlier rates without considering minimum monthly pension provision. Earlier in Sep-14, a scheme for minimum pension of INR 1000 was launched for those who…
UAN stands for Universal Account Number. The UAN acts as an umbrella for the multiple Member Ids allotted to an individual by different establishments. Purpose behind this UAN is to link multiple Member Identification Numbers (Member Id) allotted to a single member under single Universal Account Number. This will help the member to view details…
Withdrawal from PF is not allowed in general circumstances. There are certain conditions in which PF can be withdrawn. However one should consider the taxability aspect before withdrawal. When PF is Taxable? When PF is withdrawn after completion of continuous service of 5 years – In this case, it is not taxable. When PF is…
One can withdraw from EPF prematurely in some specific situations. Following are the situation in which you can withdraw from EPF subject to conditions mentioned against them: Medical treatment for Self or family (spouse, children, dependent parents). Conditions: For major surgical operations or for TB, leprosy, paralysis, cancer, mental or heart ailments. The maximum amount…
Like PF balance, EPFO provides the facility to know the claim status for PF withdrawal. This facility was started on 18th Apr-11. To know claim status, just visit http://www.epfindia.com/ClaimStatus_New.html Click on the link given at the bottom of the page. You will get the webpage like this. Now, select your State and PF Office. Enter…
EPFO provides the facility to know the balance in your EPF account. This facility was started on 1st Jul-11. To know your balance, just visit http://www.epfindia.com/MembBal.html. Click on the link given at the bottom of the page. You will get the webpage like this. Now, select your State and PF Office. Enter your PF no.,…
EPFO vide its notification dt. 2nd Mar-15 has reduced the PF administrative charges from 1.10% to 0.85% of the pay. This change will be effective from 1st Jan-2015. Must Read : Some facts about EPF : EPF Facts 1 – Nomination and Insurance Facility …
Opt of EPF If a person’s salary is less than INR 15,000, he has an option to opt out of PF. But he will have to opt out of it at the time of joining the job. Once the contribution to PF has started, you cannot opt out of it unless you leave that job.…
On Withdrawal, less than 100% amount is received You might be thinking that you will get 100% of PF amount on withdrawal. But this is not the case. On withdrawal before completion of 10 years, you will get 100% of EPF but in case of EPS, you might not get 100%. Amount of EPS on…
Withdrawal of PF As per the EPF Rules, you can withdraw your PF money only if You do not have job at the time of withdrawal of PF money and 2 months have passed since your last job OR You have completed 58 years of age. It is not mandatory to withdraw PF in 1st…