Frequently Asked Questions About PPF. Here on this page we have a collection of frequently asked questions by the candidates regarding the PPF. If you are also having any queries about the account ,you can also visit this page to sort out your queries.
Collection Of Some Questions Frequently Asked By The Peoples
-Can the PPF account be closed before the maturity period ?
No, the PPF account can not be closed before the maturity period ,it can be done only in the case of death of the account holder ,then the nominee of the account can close the account by depositing some documents required…..More
EPFO Online Balance Status : How To Check EPF India Balance ? Check 2016-2017- epfindia.gov.in .
In order to make the EPF more convenient for the employees the center government has setup a new online method for employees to check their EPF status.
EPF Online Balance Status Check EPF Balance epfindia.gov.in
Now the center government is focusing to make everything more easily access able through the way of internet. Though it is also corruption free .And now government has also taken a big step in terms of PF department Of India. The government has completely made this department access able through the mode of internet. Now each and every employee can check their Provident Fund status easily with the help of internet.Now they will need not to go to the department office repeatedly. It is easily accessible and their is no possibility of partiality .
What Is The System To Check EPF Balance & What Is Its Benefits
In country ,perhaps , the PF Department was one of the toughest department to be dealt with. An employee who have been working in the company or anything, has to go to the office of PF department several times .Many times the balance of an employee is too low and he/she have to go the office several times.And to get rid of this harassment the employee have to left his balance in the PF Office.
And in terms to make this system better and easily accessible the center government has made this whole process online.Now an employee can get the status of his PF account online. The word online is very simple and short but it is one of the most drastic systems of the modern world. Now an employee need not to go the office to check the status of their PF account,now they can check the status through online mode ,online means they have to just go online and open the website of the Department and provide your concerned details and the status of your PF account will be on your screen ,you can take out a print of this or save it for future.
You Will Need Following Details To Access This Service:-
1. Your PF number = You can find it on your salary slip.
2. A mobile with a number in it that you have registered in the your Pf record.
if you have a new mobile number than you have to update it in your PF status
Additional Information About EPFO
The word EPFO stands for the Employees Provident Fund Organization.It is a statutory body of the central government which falls under the Ministry of Labor And Employment.It administers a compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme. It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis.The scheme covers Indian workers as well as as the international workers who have been working in the Indian territory.It is one of the largest social beneficiary Organisation in terms of provided benefits to a large number of peoples. The EPFO’s apex decision making body is the Central Board of Trustees (CBT).
How To Check EPF Balance And Status
Its is ultimately meant for the purpose too help the EPF members to check their balance and status of their account.
-Initially find the page “Member Balance Information” and then select your state such as DELHI.
-Just after you will find three offices :-
-And if you know your nearest office you can select from the list available
-Then you have to enter the office code and region code in the box
-Later you need to enter an establishment code which is of 7 digits
-Then enter the 7 digit account number
-Here you will be asked your details such as Name and Mobile no. ]
-You have to give the mobile number which is applied in your PF account
-Then tick the button Agree For Services
-Then you will have to press the submit button
NOTE = Hence after the successful submissions of all the details your details will be sent through SMS to your mobile number.
You can gain all the necessary information about the EPF status by two options :
EPF Status – Online
EPF Status – Offline
Users can check the status of their account by filling some details via online method.
epfindia.gov.in Procedure to check the EPF status online
-First of all go to the website of EPF and click the link EPF balance
-By providing your login credentials login to the page
-Then you have to find your nearest office area of EPF
-Enter your office and region code there
-Then fill the details of 7 digit establishment code
-Then you have to fill your 7 digit account number
-Then click on the submit button and your status will be on your screen
NOTE:-The EPF online status is not available available in all states,only some states have their own online status check facility.
Provident Fund I Online Transfer To Another Account.All the information regarding the transfer of the Provident Fund is provided on the page below.You can scroll down and check the complete procedure.
Provident Fund Information About Online Transfer
If you have an account of Provident Fund and you want to transfer the money from one account to another account ,then you can transfer the money to the other account by following some steps that
are mentioned below.This process has been become as boon for workers.Earlier it was not possible to transfer the money from one account to another.The employees used to transfer the money physically by withdrawing money from one account and depositing to another account.
General Information About The EPF Organization
The EPF stands for Employees Provident Fund. This is the statutory body of the government that has been working under the Ministry Of Labor and Employment.It administrates for the various types of
schemes for the employees such as pension scheme ,insurance scheme and provident fund scheme.The scheme covers Indian workers as well as foreign workers that has been working in India.It has been one of the largest social organizations working in India.
Steps To Be Taken For The Online Transfer Of EPF Balance
-Get an application form for account transfer
-Then fill the form with all the details asked
-Then submit the details of current employee
-The employer will have to send the application form to the nearest EPF region office
-The verification is completed successfully,the application is forwarded to the previous employer
-Attestation is done by the employer after the verification is done by him
-Now the transfer of one account to the another account is opened
-But here on this website we will tell you how to transfer the money from one account to another
by yourself through the online mode.
Eligibility Of The Candidate For Transferring The Money
As we all know that know nowadays the internet has bring a big change in our lives , as it has made our lives easy. Now everything can be done by the way of internet ,and the best thing is that the things can be done in just a few seconds.Many of the things used to take several days to be completed ,but now it is a matter of few seconds such as email.
And internet so did in the banking sector ,now every task related to the banking is done by the internet and in just few seconds such as online transfer of money and man other such things.
Now you can also transfer the money of provident fund from one account to other by the way of internet .It has made our life so easy.Now the employees need not to go through the physical process for transferring the money.They have to fulfill some of the requirements and they can take benefit of this scheme.But don’t worry it is not a big deal ,every one will meet these criteria.
And the requirements are as given below :-
-The employer needs to have a digital signature of an employee
-And the employers member ID needs to presented in the database of the EPF.
NOTE:- The employer will have to go to the employee for this process.
Process For The Online Transfer Of The Money Of Any EPF Account
Here we will guide you step by step for the online transferring of money from one account to another :-
Steps To be Taken To Complete The Procedure:-
-Log on to the website of the EPF
-Click on the link of ONLINE TRANSFER available on the homepage
-If you meet the eligibility criteria then you can continue the procedure of online transfer
-Now click on the link of request for transfer
-As a result Form-13 appears, where PF number of both Current & Previous employer needs to be entered.
-Click on “Click here to get details”.
-And personal details such as date of entrance and date of exit etc will appear
-This information is just for verification,whether the amount is transferring to right account or
-A pop-up appears, asking the employee if he/she wishes to claim attested by current / previous
-Small letters have to be entered in the box and after that click on the I Agree column on the
-Then a pin is sent to the registered mobile number ,the application is submitted
-An tracking id is generated
-The form will be saved in the profile.Print-out needs to be taken in PDF version. This in turn needs to be submitted to the employer within 15 days.
-The authorized individuals name form details ,who have to sign will appear after the submission
of the form
-The details must be verified by the current and previous employee
-After The approval is received form both the employers ,the amount will be credited to the account
through the EPF branch office
-The Employer now plays a vital role as he/she have to verify the signatures of the Employee
-SMS Will be sent To The Employee For Updates.
About Employee Provident Fund Organization.All the candidates who have been concerned to the EPFO are advised to give a minute to this page.Here all the information regarding the organization is provided ,which every employee need to know about.
About Employee Provident Fund Organization
The word EPF is very common among the employees ,it is probably the organization which is known by the every employee working in India whether national or international.But the information that the employees have about the EPF is very formal.But today on this page we will tell you a single point about the organization you must know.
All the information is provided about the information regarding the year foundation to the coverage of Organization.
–Founding Year = 1952(India)
–Headquarters = New Delhi
-Serves in = Provident Fund Schemes For Employees
The organization was founded inn the year 1952 in the month of July ,to provide various schemes to employees of India whether they are working in private sector or private sector,such as provident fund scheme,insurance scheme etc. This organization is statutory body of government that has been working under the Ministry Of Labor And Employment.This organization completely under falls the ministry of central government.
The schemes provided by the government of India covers the Indian workers as well as the International workers.But there are no specific schemes provided to the international workers ,schemes are provided on the basis of bilateral agreement signed by the countries government.
Legal Basis And Structure Of The Organization
The Employees provident fund is regulated and registered under the act of 1952.
The organization is controlled and monitored by the central board of trustees that are fallen under the central government .The chairperson of the board is the union labor of India.It is one of the biggest organizations working for the beneficiary of society.When they have to report,the central provident fund commissioner and executive of EPFO will report to the labor ministry through permanent secretary.
The Headquarters of the organization has been settled up in the New Delhi.
There are many amendments and new schemes provided under the act of 1952:-
– Deposit linked insurance scheme 1976
– Provision fund Scheme 1952
– Pension scheme 1995
The Ruling Body Of The Organization
A dual role played by the organization. the first role of providing various beneficiary schemes to the employees all over India.And the second rule is to watch out that any of the organizations in not doing any illegal activities with employees or not snatching their interests.
What Is UAN:-
UAN stands for universal account number .It is a type of universal account number provided to the employee who is contributing to the EPF. This account number is made up of 12 digits, which will be generated for each PF candidate by EPF. The unique thing about the UAN is that it works as many number of IDs which have been provided for the employee for lifetime.No changes will be made to the UAN if by chance the employee changes the job,that is why it is called universal account number.
It is the Idea to link many information of the employee to this UAN number. Once the employee is registered with this universal account number ,candidate can check his various type of details with this number only.
FAQ Regarding Employees Provident Fund Organisation.There are many questions and queries in the minds of peoples regarding the schemes of EPF. Here on this page we have tried to put the answers of some of the frequently asked questions.
Employees Provident Fund Balance FAQs
-How are the schemes of EPF beneficial to the employees ?
It is one of the best schemes for the savings for future of employees.Along with some best schemes it has one more benefit that it is tax free.So its one of the important benefits is that it is tax free saving for employees.If you are contributing in the PF schemes continuously then it will be very beneficial for you at the time of retirement.You will get this money as your pension scheme which will be beneficial to you at the time when you will not be doing any job.
Pf guarantees the following schemes:-
-Accumulation + Retirement,Resignation,Death-Interest
-Specific Expenses – Construction of houses,higher educations,marriage etc
-Is it compulsory to be contributed in the PF by every employee ?
All the employees who have the basic salary above Rs 6500/- are necessary to be contributed by every employee in the PF.
-Will it be beneficial for the employee who draws above Rs 15000/- to contribute in PF ?
Yes it is proved to be beneficial for the employees because it is a tax free saving for the employees.
-How much percentage of income is to be contributed in the PF or Pension scheme by the employee ?
The 12 % amount of employees basic salary is contributed in the account of PF,out of which 3.67 % is contributed to PF and 8.33 % is deposited to the pension scheme for employee
-To become a member of PF,which form is to be filled ?
To become a member of PF you will have to fill the nomination form no. 2 which is available in the HR Department
-If I have to transfer the money of PF account ,which form I will have to fill ?
If you have to transfer the money of your account you will have to fill the form no. 13
-What is the provision in the scheme in the case of any nominations ?
The employee have to fill any nomination to receive the money of his /her account in the case of his death.If he has any family he will have to fill the name of the nominee ,they may be one or more .
-If an candidate is contributing to pension scheme in PF account ,when will be he able to receive the money ?
The candidate will have to complete the membership period of 10 years to be able to take benefit of pension scheme
-Is this scheme of PF ,universally same in all countries ?
The scheme of the provident fund as stated in our country is not as same as to others. Because this scheme changes according to the conditions
-How is it stated that whether the employee have worked for 10 years or not ?
Here we are talking about the continuous period of 10 years ,it means that the candidate must not have withdrawn the money from pension scheme in between 10 years and he should have contributed for continuous 10 ears whether he have worked with any firm or any company
-After what time the candidate is eligible to get his pension,he has contributed for ?
If a candidate have contributed in the PF scheme he will be able to get the benefit of this scheme on reaching the age of 58 years
– If an employee resigns before the completion of 10 years ,what will happen to his contribution ?
If an employee has contributed in the scheme and doesn’t complete his 10 years then he can withdraw his money by filling the form 19 & 10 c which is available in the HR Department firm
-Can any candidate get his contribution amount before the deadline ?
In many cases such as medical emergencies a candidate can withdraw his money before the deadline,but it is not for all cases.
-Is any interest paid to the contribution in the PF ?
Yes the compound interest is paid on the amount as prescribed by the government
-What is the financial year of PF ?
The financial period of PF starts from February and ends in March
– Is there any age fixed for the emergency withdrawal ?
In many countries the age is fixed to the 45 in case the candidate have an any emergency.But it is not any fixed age in our country
– In this scheme can we get money of scheme through postal scheme ?
Previously there was a such provision to get the money through postal code ,but now there are many type of documents to be submitted at the time of withdrawal ,so this time it is not possible to withdraw money through postal code.
– Can any employee the accumulations of his account ,if yes then then how ?
Yes the candidate can get the information of accumulations in the account.The organization send the statement every year to the employee.
-Is this scheme also applicable in the case any factory has shutdown and few employees are working
to look after the factory ?
No in this case when the factory had been shut down and some few employees are working in it ,then this scheme is not applicable to these employees
-Is any candidate who is on training ,under fall the scheme ?
Yes the candidate who is on training will be fallen under this scheme as per the trainees act.
-Is it possible to present any appeal in front of Provident Commissioner ?
Yes the appeal can be presented in front of commissioner through a body called appellate tribunal
-If the employees are working through or placed by contractor will they able to take benefit of this scheme ?
The employees placed through the contractors are defined in category of employees under the act,so they will be able to take benefit of this scheme .
-How much interest will be payed on the accumulations of PF ?
Compound interest is paid to the employees as prescribed by the Central Government ,on the basis of the credit in the account of employee
Public Provident Fund .Today here ,on this page we will provide all the necessary information about the Public Provident Fund.All the necessary details regarding the Public Provident Fund ,that an employee must need to know are provided below on this page.
Some Necessary Information Regarding Public Provident Fund
This scheme is named as Public Provident fund which is usually known as PPf. This scheme is meant for investment cum tax savings for the employees.With the help of this scheme the candidates which are covered under this scheme can made investments in which the exemption in the tax is given to the candidate.
Today ,on this page we will provide enough information to make the employees aware of the scheme in which they are contributing.We are talking about PPF. All the necessary information that a candidate need to know about the PPF is made available on this page as it’s origin period and working procedure.So the candidates can scroll down and get all knowledge about the PPF.
What Is Public Provident Fund
It is a scheme for the employees introduced by the National Savings Institute that under falls the Ministry of Finance.Under this scheme the ,candidates can do savings and some tax exemption is given by the government under the saving of this scheme.This scheme was introduced by the Ministry of Finance in the year 1968.the main motive of the Ministry by presenting this scheme was to mobilize the small savings along with providing some tax exemptions foe the savings combined reasonable returns .
Now a common question arises , which employees are taken under this scheme ?
So,all the employees who have a residence of India are eligible to open their accounts under this scheme. And also all the candidates who have been working in India but are of another country and have a residence of India can open their account under this scheme.
Every individual of India is eligible to open their account an account in Public Provident Fund.
How And Where Is This Account Is Opened
Every single people who have a residence of India has a right to open this account for the purpose of savings.There are many mediums to open an account .This account can be opened through many financial institutions such as bank i.e ICICI bank,State Bank Of India,post offices. NRIs are not eligible to open this type account.
And the best thing is that you can open an account online also.
Return And Savings on the Investment In PPF:-
This scheme is usually based on same process.The candidate who is opening an account in PPF scheme will have to make an yearly investment of Rs 500/- and an individual can make a investment of maximum Rs 1.50 lac/- in any given financial period.The excess amount deposited in the account will neither gain any interest and nor will be given the rebate on the tax.
the interest rate given on the account of PPF is decided by the Government Of India.The rate pattern is compound interest and the rate of interest which is effective from 1st,April,2016 is 8.1 %.The interest on the account will be paid in the month of March every year.
The standard duration of the scheme is of 15 years which can be expanded on the request of the candidate in the blocks of 1 year and 5 year.
Once the maturity period is over for the account,the customer can do the following three steps with the account.
1)He can withdraw the money completely.
2)He can extend the time of the maturity without depositing money for future
3)He can extend the time of money and continue depositing the money in future
The loan facility is also available in this account,the candidate can take a loan from the account during the 3rd financial year to 5th financial year at the rate of interest of 2% more than the prevailing rate of interest.
The money of the PPF has a lock in period of 15 years.And an premature withdrawal can be made after the 6th financial year of the commencement of fund.
The candidate who is opening an account under PPF has a choice to nominate any candidate as a nominee,which can be one or more than one person.The shares of the nominee can be defined by the account holder.It will be helpful for the candidate for future in case of death or something unexpected.