Government removes grace period of 5 days for PF/EPF contribution w.e.f. Feb. 2016.

Removing of grace period of 5 Days

Payment of contribution by the employers by 15th of the following month

As per letter issued by Ministry of Labour & Employment, Government of India dated 8th Jan-2016, Payment of Contribution by the employers by 15th of the following month - Removing of Grace Period of 5 Days w.e.f. Feb. 2016.

The Ministry of Labour & Employment, Government of India further state that, the grace period of five days have been allowed for the employers to remit the contributions as the system of calculation of wages of the employees and their corresponding dues under the three schemes (Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995 & Employees' Deposit Linked Insurance Scheme 1976) were done manually and its remittances in the bank required additional time in the earlier manual setup.

For details of letter (Click Here)

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Taxpayee Employee get exemption of EPF even if paid after due date.

As per the section 43B of Income Tax Act, 1961 taxpayee Employee can get benefit of Exemption of Employee's contribution even if paid after due date of fund but before due date of filing Income Tax Return under the head Profits and gains of business or profession.

Section 43B

Deduction allowed on actual payment:
Notwithstanding anything contained in any other provisions of the income-tax Act, in respect of certain expenditure/payments, the deduction is allowed (irrespective of the previous year to which the liability to pay such sum was incurred by the assessee according to method of accounting regularly employed by him) only if the amount has been actually paid during the previous year. However, in case an assessee follows mercantile system of accounting, the payments mentioned below can be claimed on ̳due‘basis, provided the payment for the same is made within stipulated period mentioned against each expenditure:

Nature of Expense

• Any sum payable by way of tax, duty, cess or fee, by whatever name called, under any law for the time being in force.
• Any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees.
• Any sum payable to an employee as bonus or commission for service rendered.
• Any sum payable by the assessee as interest on any loan or borrowing from any public financial institution or State Financial Corporation or State Industrial Investment Corporation like IDBI, IFCI, UPSIDC, Delhi Financial Corporation, etc., in accordance with the terms and conditions of the agreement governing such loan or borrowing.
• Any sum payable by the assessee as interest or any loan or advance from scheduled bank in accordance with the terms and conditions of the agreement governing such loan.
• Any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee.

As amended by Finance Act, 2013

Presently, payment of interest on any loan/borrowing from a public financial institution, State Financial Corporation or State Industrial Development Corporation and interest on any loan/advance from a scheduled bank is allowed as a deduction from business income, when such interest is actually paid.

Provisions of Sec.43B are applicable only in respect of employers contribution to provident fund, ESI, etc. Employees contribution to provident fund, ESI, etc., shall be allowed as deduction only when the payment of the same is made on or before the due date mentioned under the respective welfare Acts. If the employer‘s contribution to such fund is paid after the due date under the respective Acts, the deduction for such payment made by the employer shall not be allowed under Sec. 36(1)(va).

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Latest Amendments in Provident Fund (EPF, EPS & EDLI) w.e.f. 01.09.2014

Latest amendments in Provident fund is that who on or after the 16th November, 1995, become a member of Employees' Provident Fund Scheme, 1952, or of the Provident Funds of the factories and other establishments exempted by the appropriate Government under section 17 of the Act, or in whose case exemption has been granted under Paragraph 27 or 27-A of the Employees' Provident Fund Scheme, 1952 or whose pay on such date is less than or equal to 15000/- rupees from the date of such membership.

Determination of Pensionable Salary:

Pensional Salary shall be average monthly pay drawn (in any manner including on piece-rate basis) during the contributory period of service in the span of 60 months preceding the date of exit from the membership of the Employees' Pension Fund and the pensionable salary shall be determined on prorata basis for the pension service upto 01.09.2014, subject of a maximum of Rs. 6500/- PM and for the period thereafter Rs. 15000/- PM.

"Provided that if a member was not in receipt of full pay during the period of 60 months preceding the day he creased to be the member of Pension Fund, the average of previous 60 months full pay drawn by him during the period for which contribution to the pension fund was recovered, shall be taken into account as pesionalble salary for calculating pension".

(4) Inserted: Existing Members already contributing on salary exceeding Rs. 6500/-, may continue to contribute on salary exceeding Rs. 15000/- by a fresh option.  In this case additional contribution @ 1.16% is to be made from employee contribution on salary exceeding Rs. 15000/-.

Fresh Option for additional contribution to EPS on salary exceeding Rs. 15000/- can be made up to 01.032015 and the date can be extended further upto 01.09.2015 if RPFC is satisfied by the cause.

If no fresh option has been made, the contribution on salary exceeding Rs. 15000/- to EPS will be diverted/transferred back to EPF Account with specified interest.

Changes by EPS (Amendment 2nd)-2014

Monthly Member's Pension:
7(A) Inserted:  The monthly members' pension including any relief payable to any existing or future member under this paragraph shall not be less than 1000/- rupees.

Benefits on permanent and total disablement during the service:
A member, who is permanently and totally disabled during the employment shall be entitled to pension as admissible under paragraph 12 as the case may be subject to a minimum of Rs. 250/- per month notwithstanding the fact that he/she has not rendered the pensionable service entitling him/her to pension under paragraph 12 provided that she/he has made at lease one month's contribution to the Pension Fund.

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Important amendments in EPF Wages & others, wage ceiling increased to Rs. 15000/- w.e.f. 01.09.14

Employees' Provident Fund Organization (Ministry of Labour, Govt. of India) has issued a notification dated 28.08.2014 regarding increase of wage ceiling from existing Rs. 6,500/- to Rs. 15,000/- w.e.f. 01.09.2014, fixing minimum pension of Rs, 1000/- per month and 20% additional relief on the amount of assurance benefit admissible under EDL1 Scheme, 1976. The said effects' notifications are as under.

MINISTRY OF LABOUR AND EMPLOYMENT

NOTIFICATION

New Delhi, the 22nd August, 2014

G.S.R. 608 (E).—In exercise of the powers conferred by section 5 read with Sub-section(1) of Section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby-makes the following Scheme, further to amend the Employees' Provident Funds Scheme. 1952, namely:-

I (1) This Scheme may be called the Employees' Provident Funds (Amendment) Scheme, 2014.

  (2) It shall come into force on and from the Ist day of September, 2014.

2. In the Employees' Provident Funds Scheme, 1952,-

   (a) in paragraph 2, in clause (1), in sub-clause (ii), for the words "six thousand and five hundred rupees", the words " fifteen thousand rupees" shall be substituted;

   (b) in paragraph 26. in sub- paragraph (6), for the words "six thousand and five hundred rupees'`. the words "fifteen thousand rupees" shall be substituted;

   (c) in paragraph 26A, in sub-paragraph (2), in the proviso, for the words "six thousand and five hundred rupees", wherever they occur, the words "fifteen thousand rupees" shall be substituted.

[F. No. S-35012/112012-SS.11]

ARUN KUMAR SINHA. Addl. Secy,

NOTIFICATION

New Delhi, the 22nd August, 2014

509(E),— In exercise of powers conferred by section 6A read with sub-section (1) of section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees' Pension Scheme, 1995. namely:—

I, (1) This Scheme may be called the Employees' Pension (Amendment) Scheme, 2014.

   (2) It shall come into force on and from the 1stday of September, 2014.

2, In the Employees' Pension Scheme, 1995, (hereinafter referred to as the principal Scheme). in paragraph 3, in  sub-paragraph 2, in the proviso, for the words "rupees six thousand and five hundred", wherever they occur, !he words "fifteen thousand rupees" shall be substituted.

3. In the principal Scheme, in paragraph 6, in clause (a), after the words. figures and letter "or 27A of the  Employees' Provident Funds Scheme, L952", the words "and whose pay on such dare is less than or equal to fifteen thousand rupees", shall be inserted.

4. In the principal Scheme, in paragraph It,-

  (a) for sub-paragraph (1) and the proviso thereto, the following shall be substituted, namely:-

      11) The pensionable salary shall be the average monthly pay drawn in any manner including on piece rale basis during contributory period of service in the span of sixty months preceding the date of exit from the membership of the Pension Fund and the pensionable salary shall be determined on pro-rata basis for the pensionable service up to the V' day of September, 2014, subject to a maximum of six thousand and five hundred rupees per month and for the period thereafter at the maximum of fifteen thousand rupees per month:

          Provided that if a member was not in receipt of fun pay during the period of sixty months preceding the day he ceased to be the member of the Pension Fund, the average of previous sixty months full pay drawn by him during the period for which contribution to the pension fund was recovered, shall be taken into account as pensionable salary, for calculating pension;

  (b) in sub-paragraph (2), for the figures and word "12 months", wherever they occur, the words -sixty months" shall be substituted;

  (c) in sub-paragraph (3),-

      (i) for the words, letters and figures "rupees six thousand and five hundred/Rs, 6500", the words "fifteen thousand rupees" shall be substituted;

      (ii) the proviso shall be omitted.

  (d) after sub-paragraph (3), the following sub-paragraph shall be inserted, namely:-

      (4) The existing members as on the 11' day of September, 2014, who at the option of the employer and employee, had been contributing on salary exceeding six thousand and five hundred rupees per month, may on a fresh option to be exercised jointly by the employer and employee continue to contribute on salary exceeding fifteen thousand rupees per month:

          Provided that the aforesaid members have to contribute at the rate of 1.16 per cent on salary exceeding fifteen thousand rupees as art additional contribution from and out of the contributions payable by the employees for each month under the provisions of the Act or the rules made thereunder:

          Provided further that the fresh option shall be exercised by the member within a period of six months from the I g day of September, 2014:

          Provided also that the period specified in the second proviso may, on sufficient cause being shown by the member, be extended by the Regional Provident Fund Commissioner for a further period not exceeding six months:

          Provided also that if no option is exercised by the member within such period (including the extended period), it shall be deemed that the member has not opted for contribution over wage ceiling and the contributions to the Pension Fund made over the wage ceiling in respect of the member shall be diverted to the Provident Fund account of the member along with interest as declared under the Employees' Provident Fund Scheme from time to time,

5. In the principal Scheme in paragraph 12, in sub-paragraph (2), the following proviso shall be inserted. namely:-

   "Provided that the members' monthly pension shall be determined on a pro-rata basis for the pensionable service up to the day of September, 2014 at the maximum pensionable salary of six thousand and live hundred rupees per month and for the period thereafter at the maximum pensionable salary of fifteen thousand rupees per month".

6, in the principal Scheme, for paragraph 14 the following paragraph shall be substituted, namely.-

   "14. Benefits on leaving service before being eligible for monthly member's pension.- if a member has not rendered the eligible service specified in sub-paragraph t I) of paragraph 12 on the date of exit, or on mining the 58 years of age, whichever is earlier, such member shall be entitled to a withdrawal benefit as laid down in Table 'V or may opt to receive the Scheme certificate provided on the date he has not attained 58 years of age:

   Provided that for calculating such withdrawal benefit, the wages at exit shall be the weighted average of his wages at the end of every wage ceiling period:

   Provided further that an existing member shall receive additional return of contributions for his past service under the Employees' Family Pension Scheme, 1971, computed as withdrawal-cum-retirement benefits as per Table 'A' multiplied by the factor given in Table '8' ".

[F.No. S-35012/1/2012-SS-111 ARUN KUIvIAR SINHA,Addl. Secy.

Note: The principal Scheme was published in the Gazette of India. Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 748 (E), dated the 16th November, 1995 and last amended vide notification number G.S.R. 80(E) dated the 14th February, 2013.

NOTIFICATION

New Delhi, the 22nd August, 2014

G.S.R. 610 (E). —In exercise of the powers conferred by nation 6C read with sub-section (1) of section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following scheme further to amend the Employees' Deposit-Linked Insurance Scheme,1976, namely:-

1. (l) This Scheme may be called the Employees' Deposit-Linked Insurance (Amendment) Scheme, 2014.

   (2) It shall come into force on and from the l' day of September, 2014.

2. In the Employees' Deposit-Linked Insurance Scheme, 1976 (hereinafter referred to as the principal S&me), in

   paragraph 7, in sub-paragraph (1), for the words "six thousand five hundred rupees", the words "fifteen thousand rupees" shall be substituted.

3. In the principal Scheme, in paragraph 22, in sub-paragraph (3),-

   (a) in clause (i), for the words "six thousand five hundred rupees", the words. -fifteen thousand rupees" shall be substituted;

   (b) in the Explanation, for the words "rupees six thousand five hundred", the words "fifteen thousand rupees" shall be substituted.

4. In the principal Scheme, in paragraph 22, after sub-paragraph (3), the following sub-paragraph shall be inserted, namely:-

   14) The benefit under this Scheme shall be further increased by twenty percent in addition to the benefits admissible under sub-paragraph (1), (2) or (3) of paragraph 22, as the case may be.".

[F. No. S-35012/112012-SS.111 ARUM la/IvIAR SINHA, Addl. Secy.

MINISTRY OF LABOUR AND EMPLOYMENT

NOTIFICATION

New Delhi, the 19th August, 2014,

GSA. 593 (E).— In exercise of the powers conferred by section 6A, read with sub-section (1) of section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees' Pension Scheme,1995, namely:-

2. (1) This Scheme may be called the Employees' Pension (Second Amendment) Scheme, 2014,

   (2) It shall come into force on the 1st day of September, 2014.

       In the Employees' Pension Scheme, 1995 (hereinafter referred to as the principal Scheme), in paragraph 12, after sub-paragraph (7), the following sub-paragraph shall be inserted, namely:-

       17A) The monthly member's pension including any relief payable to any existing or future member under this paragraph shall not be less than one thousand rupees for the financial year 2014-15.".

3. In the principal Scheme, in paragraph 15, for the words, brackets and figures "sub-paragraphs (2) to (5) of paragraph 12, as the case may be,", the word and figures " paragraph i 2" shall be substituted.

4. In the principal Scheme, in paragraph 1b,-

   (a) in sub-paragraph (2), in clause (a), after sub-clause (iv), the following sub-clause shall be inserted. namely:-

       "(v) in all the cases, where the monthly widow pension including relief, if any, is less than one thousand rupees per month, the amount of monthly widow pension in such cases shall be enhanced to one thousand rupees per month for the financial year 2014-2015.";

   (b) in sub-paragraph (3), for clause (b), the following clause shall be substituted, namely:-

       "(b) Monthly children pension for each child shall be equal to 25 per cent of the amount admissible to the widow of the deceased member as monthly widow pension payable under clause (a) of sub-paragraph (2):

            Provided that the minimum monthly children pension including relief, it' any, for each child of the deceased member shall not be less than two hundred and fifty rupees per month for the financial year 2014-2015.";

   (c) in sub-paragraph (4), for clause (a), the following clause shall be substituted, namely:-

       "(a) if the deceased member is not survived by any widow, but is survived by children falling within the definition of family or if the widow pension is not payable, the children shall be entitled to a monthly orphan pension equal to 75 per cent of the amount of the monthly widow pension as payable under clause (a) of sub-paragraph (2):

            Provided that the minimum monthly orphan pension including relief, if any, for each orphan shall not be less than seven hundred and fifty rupees per month for the financial year 2014-15.",

[F. No. 11-15025/312007.SS-11/PUII ARUN KUNIAR SINHA Secy

Foot Note.- The Employees' Pension Scheme, 1995 was published in the Gazette of India vide notification number G.S.R. 748(E), dated the 16th November, 1995 and was lastly amended vide notification number G.S.R. 80(E), dated the 11th February, 2013.

Download Wages Ceiling Limit to Rs. 15000/- (Click Here)

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Employee P.F. Ceiling Limit increased by Rs. 8500/- i.e. from Rs. 6500/- to Rs. 15000/- for Fin. Year 2014-15.

The Hon'ble Union Minister of Finance in the Budget Speech of 2014-15 has announced enhancement in statutory wage ceiling for enrollment under the EPF and MP Act, 1952 to Rs. 15000/- per month from the current maximum of Rs. 6500/- per month.  On this ground Central Board of Trustees’, Employees' Provident Fund (CBT, EPF) has been issued a circular regarding enhancement of wage ceiling from Rs. 6500/- to Rs. 15000/- per for Fin. Year 2014-15.  This amendments related to the Employees’ Provident Fund Scheme, 1952 (EPF), Employees’ Pension Scheme, 1995 (EPS) Employees’ Deposit Linked Insurance Scheme, 1976 (EDLI) for implementing increase in wage ceiling to Rs. 15,000/- and Minimum Pension of Rs. 1,000/- - issues and modalities.

In view of above, the following preparatory activities are required to be initiated immediately:

• The total number of establishments in your office be listed out Enforcement Officer wise.  Further, in respect of each establishment "Enforcement Group" and "Enforcement task-id" shall be compulsorily marked in the Application Software;
• Enforcement officer may be directed to visit the establishment to check the total number of employees drawing salary beyond Rs. 6500/- and upto Rs. 15000/- and not enrolled as members.  The data so collected shall be required immediately after issue of the notification;
• The tour programme of Enforcement Officer shall be chalked out in such a way that they visit establishments where there is concentration of large number of workers particularly the building and construction industries, placement agencies etc.;
  
• Wherever the Enforcement Officers visit the establishment they should also meet the representatives of the workers' unions and apprise then about the said likely notification enhancing the statutory wages ceiling;
• Meeting may be arranged to apprise the establishment about the intent of the notification and assist them in implementing with same once it is issued.

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EPFO panel grants tax exemption to 20 private PF trusts.

An empowered committee of the retirement fund body EPFO has approved granting regular tax exemption to 20 private provident fund trusts, which would provide tax benefits for subscribers of these firms. 

The firms who got approval for tax exemption during the meeting of the panel held on May 15, include big names like Food Corporation of India, J K Tyre and Industries (Vikrant Tyre Plant), Mercedes Benz Research and Development, Aditya Birla Nuvo, L&T Technology services and L&T Hydrocarbon. 

The meeting of the panel is being called as outgoing Finance Minister P Chidambaram did not extend a March 31 deadline for the trusts to get regular tax exemption through the Employees' Provident Fund Organisation (EPFO). 

Chidambaram made it mandatory in 2006 for these trusts to procure an exemption certificate by March 31, 2007, a deadline that has been extended many times and expired on March 31. 

Earlier during the first meeting of the committee held on March 28, it had approved 68 such applications. 

The panel has been empowered by the EPFO's apex decision making body Central Board of Trustees (CBT), headed by the Labour Minister, to grant regular exemption on January 13 in its meeting. The power to grant exemption is vested in CBT. 

"EPFO is still processing 148 such applications for grant of regular tax exemption," EPFO's Central PF Commissioner K K Jalan who heads the panel, told PTI. 

Asked whether more such applications are expected, he replied, "We may receive such applications in future." 

Private PF trusts are formed by firms that manage the money and accounts of their workers themselves and have exemption from filing PF returns. The members of these trusts enjoy tax and other benefits at par with EPFO subscribers. 

Such trusts can start functioning after seeking ad hoc tax exemption from the regional commissioner after which they apply for regular tax exemption. 

Once approved, a PF trust's regular tax exemption is notified by the Labour Ministry or state government. 

According to a senior official, if the deadline for getting regular tax exemption is not extended in the full-fledged budget to be presented by the new government then the defaulting trusts would come under the income tax net. 

He expressed hope that the next meeting of panel may be called in the second week of next month where 30-40 such applications could be approved. 

At present, the EPF subscribers are exempted from paying income tax on deposits, accrual of interest and withdrawal of their funds. 

Source : www.economictimes.indiatimes.com

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EPF Interest Rate is 8.75% For Fin. Year 2013-14.

Government has approved payment of 8.75 percent rate of interest on PF deposits in 2013-14 for over five crore subscribers of retirement fund body EPFO. "The Finance Ministry has given its concurrence to the Employees' Provident Fund Organisation's (EPFO) trustees' decision to provide 8.75 percent rate of interest to its members for the current fiscal," an official said. EPFO's apex decision making body, the Central Board of Trustees (CBT) headed by Labour Minister had decided to raise interest rate for the current fiscal to 8.75 percent from 8.5 percent paid in 2012-13, in its meeting held on January 13. 

The CBT decision was sent to the Finance Ministry for vetting. Since the Finance Ministry has given its concurrence to the decision, the interest would be credited into the accounts of subscribers, he said.  

EPFO estimated an income of Rs 25,048.55 crore for 2013-14. As per its estimates, the payment of interest rate at 8.75 percent would require Rs 25,005.41 crore and there would be a surplus of Rs 43.14 crore. 

According to the official, the Finance Ministry has asked the Labour Ministry to expedite the updation of EPFO's subscribers' accounts till March 31, 2014. Now the Labour Ministry would communicate the approval of the Finance Ministry to the EPFO for crediting the said rate of interest in the PF accounts of its members for the current fiscal and settle claims accordingly.

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EPF Interest rate i.e. 8.5 Percent for Fin. Year 2013-14

Retirement life fund body EPFO will pay at least 8.5% rate of give back on PF remains for 2013-14 to its over 5 crore buyers as provided in the last fiscal and deciding in this regard might be taken as early as next month.

"The Employees' Provident Finance Organisation (EPFO) is not going to pay less in comparison with 8.5% interest rate in PF deposits for the current fiscal, inch an EPFO established said.

"The decision within this regard could be studied in December because body is going to schedule a conference of its height decision making system Central Board connected with Trustees (CBT) the following month, " he added in.

EPFO had provided 8.5% interest rate pertaining to 2012-13, up through 8.25% in 2011-12.

Trade unions have written for the Labour Ministry to urgently convene the actual meeting of EPFO's height decision making body CBT to settle on the interest pace.

Ever since the actual CBT was reconstituted in May, no meeting continues to be held so far. Since the new CBT has not met after its reconstitution in May possibly, no sub-committees might be reconstituted. The term in the sub-committees is co-terminus with the CBT.

The EPFO established said that CBT would have to meet at lowest twice before deciding rate on PF deposits for the current fiscal.

Inside first meeting, the trustee might constitute FIC and in the second meeting they might decide on interest rate based on the recommendations of the committee taking a look at the proposal.

The proposal for the interest rate is cooked by the EPFO which can be vetted by the actual FIC and would go to CBT for ultimate consideration. Once approved from the CBT, the decision on rate requires concurrence connected with Finance Ministry which includes to notify this.

Only after notice, the interest is credited into your accounts of buyers.

As per the actual norms, EPFO is required to announce rate on PF deposits before the start of a financial calendar year. However, for the past few years, there continues to be delay in announcement in the rates.

Source: www.taxalertindia.com

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Every month updates EPF account w.e.f. Oct., 2013

Employee’s Provident Fund Organization is doing dramatically changes in the system to be an employee friendly rather than employer friendly. In this move, EPFO announced that provident account will be updated every month from October.

EPFO has done all the homework and set to update account on monthly basis from 6 September as per official statement.

This move will benefit around 40 lakhs pension holder who can get the pension amount in their account on the first day of every month.

The organization is working on giving every employee a unique number in this fiscal year only. This number will work as a bank account with which in case of changing the job, one can give the employee identification number to new employer and PF account will run without disturbance.

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E.P.F. Account transfer online w.e.f. 15th August

Employee’s provident fund organization (EPFO) announced Independence gift to Indians as online transfer of Provident fund account on changing jobs will start on 15 August. This facility will benefit around 13 lakh subscribers in India.

Earlier EPFO has started taking digital signatures of the employer as it will be a vital for system for online transfer. The department hopes a good response from the employer providing digital signatures as the success of online transfer of accounts depends on it.  The department wants to launch the service of online transfer of PF account on 15 august the day of independence.

Digital signatures are used quite often in other sources like in income tax return as well as in big companies, on cheques as well. So there is no harm providing to EPFO as it will make transferring provident fund account really fast and easy.

Once the service is launched, subscribers would be able to apply online for transfer claims through their employers. It has set up a central clearance house for the purpose.

During 2012-13, 107.62 lakh claims were settled, of which 88 per cent were processed within 30 days, as prescribed by the body's citizen charter.

EPFO expects 1.2 crore claims in 2013-14, including around 13 lakh PF transfer claims. It plans online settlements of about 10 lakh transfer claims of tech-savy applicants from industries such as IT, this fiscal.

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Enhancement in the rate of used Medical Allowance from Rs. 1200/- to Rs. 2000/- p.m. w.e.f 01.03.2013

EPFO has enhanced the rate of medical allowance from Rs. 1200/- to Rs. 2000/- Per month w.e.f. 01.03.2013, payable to the serving as well as retired employees of the EPFO for outdoor medical treatment.  The full notification is as follows:

Employees’ Provident Fund Organisation
(Ministry of Labour and Employment, Government of India)

No, HRM-8/V/12/1/2003/FMA/Vol-117/6160

Dated 13 JUN 2013

To,
All Addl. Central P F. Commissioner (Zones)
Director (NATRSS)
All RPFCs-In-Charge of the Region/ZTIs
RPFC (ASDL), Head Office
All Officer-in-charge of SROs

Sub:. Enhancement in the rate of used Medical Allowance from Rs. 1200/- to Rs. 2000/- p.m. w.e.f 01.03.2013, payable to the serving as well as retired employees of the EPFO for outdoor medical treatment - regarding.

Sir,
I am directed to convey the approval of the 76th Executive Committee, CBT, EPF held 25/02/2013 and Hon'ble Labour & Employment Minister, Government of India for enhancement of the Fixed Medical Allowance (FMA) for pensioners and employees of EPFO from Rs. 1200/- p.m. to Rs 2000/- p.m w.e.f. 1st March, 2013, subject to the following conditions :-

(i) The enhancement of fixed medical allowance will be available to serving employees and pensioners (including family pensioners) of the Employees Provident Fund Organization. The serving employees of the Organization who are in the Head Office at New Delhi and Regional/Sub Regional Office at Delhi and at stations which are covered by the Central Government Health Scheme will not be eligible for Fixed Medical Allowance.  As soon as any employee is covered by Central Government Health Scheme, the fixed medical allowance admissible to him/her shall be stopped.

(ii) If two or more members of family are working in the EPF Organization, only one of them will be eligible for the facility of fixed medical allowance.

(iii) In the case of an employee whose wife/husband spouse is an employee of a Government or any other organization (including private firm/office) he/she will be required to give an undertaking that his/her spouse is not availing of medical facilities in case, lf any granted by their respective employers.

(iv) The Fixed Medical Allowance will be in lieu of the medical facility available for outdoor treatment under the Central Services (Medical Attendance) Ruler 1944 as adopted by the FPF Organization for its own employees and pensioners.

(Authority: Ministry of Labour & Employment, Govt. of India letter no.G-25012/2/2011-SS-I dated 07.06.2013)

You faithfully,
sd/-
(V.N. SHARMA)

ADDL. CENTRAL P.F. COMMISSIONER (HR)

Source : www.epfindia.com

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Withdraw or Transfer Employees Provident Fund Online.

          EPF Commissioner Mr. Anil told in the press conference that "We have decided to set up a central clearance house which will be operational on July 1. This will enable subscribers to apply online for settlement of the withdrawal and transfer of funds claims" because EPF account holders are more than 50 Million and thus this facility is the most important for EPF account holder to withdrawal and transfer online.

          Now a days the EPF account holder has face the big problem that withdrawal and transfer fund if the Provident Fund Account holder will be change the job or transfer the job to other place in India.

           If the EPFO takes foot in this regard all EPF account holder get benefit of it. This facility will also give tracking the account as in what stage the account transfer is. It includes online tracking and getting the SMS time to time.

          EPFO has the dream plan to provide permanent account number to the entire employees provident fund account holder as one needn’t to transfer account one place to other. One account number will work all over country.

          But this dream project will take time around 8-10 months and only be possible in 2014 only. The department is setting the infrastructure for it. It needs speed clearance house and online office at every district.

          The new system will be very beneficial for the employees as this is department liability to verify the employees account by the employer for withdraw or transfer account. In current system the liability is of employees to get verified the account with the employer.

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Complete procedure to check Online EPF (Employee Provident Fund Account) Balance & FAQs.

Employee provident fund organization website(EPFO) has been provided online services to the EPF account holder. The employees provident fund deduct by the Employee as  fixed amount from his monhtly salary and contribute to provident fund and employer needs to do it the same in the Employee's EPF Account.
 

Procedure to Check Online EFP Account:

• First one needs to select state from drop down menu.
• Then one needs to click office name from the option given in blue link.
• Then one needs to submit the account number of provident fund account. If there is no extension number, left the space blank.
• One needs to enter the name same as in the records of EPF.
• One needs to enter the mobile number and the information about the account like account balance and last updation will be sent on mobile with a sms.

The following link to check online balance of your EPF Account upto the date, along with the latest approved transactions of settlement/advances/transfer-in/transfer-out etc.

• Select the EPFO office where your account is maintained and furnish your PF Account number.
• Leave the extension field blank, in case your account does not have one.
• You will be asked to enter your name and mobile number. The given mobile number will be recorded along with the PF Account Number.

On successful submission of above information, the details will be sent through SMS to the given mobile number.

Online EPF Account Balance Check Here
Online EPF Interest Rate
Online EPF Tax
Online EPF Information Check Here

FAQs.

What Is Member Portal?
Member Portal Is For Employee, Where Employee Can Check Own Pf Status.

What Is E-Passbook?
E-Passbook Is The Employee Provident Fund Status Book (Pdf). Employee Can Check Own Pf Status

Who Can Register On The Member Portal?
Any Member Of The Employees’ Provident Fund Can Register. At The Time Of Registration, Details Of the Pf Account(S) Is Not Required.

What Are The Advantages Of Registration?
Only A Registered Member Can Download His/Her Pf Account Passbook. Passbook Will Be Available for Immediate Download Only For The Active Members For Whom The Employer Has Uploaded An Electronic Challan Cum Return (Ecr) And Remitted The Dues. For Members Who Have Left The Service Before March 2012, The Pass Book Will Be Made Available If The Member Makes A Request For The Same On The Portal. Pass Book Of Members Having Inoperative Or Settled Accounts Will Not Be Displayed On The Portal.

Can A Member Create His Own User Id And Password On The Portal?
No. Any Chosen Document Number As In Pan, Aadhar, Passport, Etc Will Be The User Id And Mobile Number Will Be The Password. The Member Will Not Have To Remember The User Id And Password In Such Case.

Can A Pf Member Working For An Establishment Exempted Under The Epf Scheme Also Avail Benefits Under The Portal?
No. The Provident Fund Accounts In Such Case Are Maintained By The Respective Trust And Pass Book For Such Member Cannot Be Displayed Through The Member Portal.

A Registered Member Has Lost/Changed His Existing Mobile Number. Can He/She Change The Mobile Number On The Portal?
Yes, He/She Can Change The Mobile Number. Facility To Edit The Mobile Number Has Been Provided On The Portal. The Member Has To Login Using His/Her Id And Old Mobile Number And Then Edit The Existing Mobile Number. He/She Will Get A Pin Through An Sms On The New Mobile Number To Complete The Process.

What Are The Advantages Of Adding Multiple Document Numbers On The Portal?
The Member May At Any Point Of Time Be Carrying Any Of The Various Documents Such As Pan, Aadhar, Passport, Bank Pass Book. Adding The Multiple Numbers Gives Him/Her An Advantage Of Using Any Of The Number To Log In And Download His/Her Pass Book. He/She Will Also Not Have To Remember As To Which Document He/She Had Used For Registration.

If Any Document Number Is Wrongly Entered, Can It Be Edited?
Yes, The Number Can Be Edited. However The Document Number Used For Log In At The Time Of Editing Is Blocked. For Example, If A Member Has Logged In Using His/Her Pan, He/She Can Edit Any Other Document Number But Not The Pan. For Editing Pan If Wrongly Entered He/She Will Have To Log In With Some Other Document Number Already Added.

Why For Each Transaction The Member Has To Get And Enter The Pin Received On His/Her Mobile Number?
This Is To Ensure That The Portal Is Not Misused By Any Other Person Who May Know The Document Number And Mobile Number Of Any Other Member. The Record Of The Mobile Number Used For Registration And For Each Transaction Will Be Maintained In The Data Base And In Case Of Any Complaint, Action May Be Taken On The Basis Of The Mobile Number Used. Thus This Is Only To Safeguard The Interests Of The Members.

A Member Has Used One Identity Document To Register And Has Forgotten The Same. Can He/She Register Again Using His/Her Mobile Number?
No. One Mobile Number Can Be Used Only For One Registration. However He/She Can Click On The ‘Forgot Login’ Link Under The Fields For Document Number And Mobile Number To Get Through Sms His/Her Document Details Used For The Registration.

How Can A Member Download His/Her Pass Book?
After Login The Member Has To Use The Download E Passbook Link On The Portal. He/She Has To Select The State Under Which The Establishment Is Covered And Then The Epfo Office That Maintains His/Her Account. He/She Will Be Asked To Enter The Code Number, Account Number And His/Her Name. If The Passbook Is Available He/She Will Get A Pin On His/Her Mobile Number And On Entry Of The Pin He/She Will Get The Link For The Pass Book. He/She Can Open And Save The Pass Book On His/Her Computer.

What Entries Will Be Shown In The Pass Book?
Month And Date Wise Transactions Made In Member’s Account Will Be Displayed In The Pass Book From The Year For Which The Annual Accounts Were Updated For The Establishment For The First Time Since Computerisation Of The Concerned Field Office. For Example If The First Annual Accounts Of Member’s Establishment Were Updated For The Year 2008-09 By The Concerned Field Office After Its Computerisation, The Pass Book Will Display The Opening Balance For Year 2008-09 And All Transactions Thereafter.

A Member Has Left Service But Not Applied For Settlement Of His Account. Can He/She Download His/Her Pass Book?
Members Who Has Left Service Can Make A Request For Their Pass Book Through The Member Portal. Once His/Her Request Is Accepted On The Portal, He/She Will Receive An Sms When The Passbook Is Made Available On The Portal. He/She Can Then Login And Download The Pass Book. Passbook Will However Not Be Made Available If The Member’s Account Has Become Inoperative (No Contribution Received For 36 Months Or More) Or If It Is Settled. Pass Book Will Be Available For Immediate Download For Active Members Only For Whom The Employer Has Uploaded The Electronic Challan Cum Return (Ecr) And Has Made The Payment.

The Member Has Got The Pin On His Mobile Number While Downloading The E Passbook. But The Field For Entry Of The Pin Is Not Allowing Entry. What To Do?
The Field For Entry Of Pin Allows Enter Only When The Member Has Clicked On The Check Box With ‘I Agree’ Meaning That He/She Is Declaring That The Account Number He/She Has Entered Is His/Her Account And That In Case Of Amy Misuse Or Complaint His/Her Details Can Be Used For Suitable Action.

A Member Working For An Establishment Exempted Under The Epf Scheme Wants To Download His/Her Pass Book. Is It Possible?
No, The P F Accounts Of The Exempted Establishment Are Maintained By The Respective Trusts And Pass Book Of Such Member Cannot Be Displayed From This Portal.

While Downloading The E Pass Book A Message Appears “You Have Entered Invalid Members Id Or Name” What To Do?
Please Check Whether You Have Entered The Correct Code & Account Number And/Or Name. In Case Yes, The Name May Not Be Matching As Per The Record In Epfo. In Such Case The Member Has To Contact The Concerned Epfo Office.

The Member Has Downloaded His/Her Pass Book But There Is Some Error In The Name. What To Do?
At Present The Name As Appearing In The Pass Book Cannot Be Changed.

A Member Has Downloaded His/Her E Pass Book. However There Are Several Missing Entries In The Contributions. What To Do?
The Member Should Check First With The Employer Whether The Returns For The Month/Year Related To The Missing Entry Has Been Submitted By Him To The Concerned Epfo Office. In Case Yes Then He/She Can Contact The Concerned Epfo Office Regarding The Missing Details.

A Member Has Downloaded His/Her E Pass Book. However The Contributions Displayed Are Less Than The Actual Dues As Per His/Her Wages. What To Do?
He/She Should Check With The Employer As To What Amounts Have Been Shown In The Returns. In Case Of Any Grievance, He/She Should Contact The Concerned Pf Office.

A Member Has Attempted To Download The E Pass Book. He Is Not Getting The Pin. What To Do?
He/She Should Check The Message Displayed On The Screen. If The Message States That Pin Has Been Sent And The Pin Is Not Received, It May Be Because The Line Is Very Busy. In Such Case It Is Advised To Wait For Some Time And Try Again.

A Member Has Two Accounts In The Same Establishment? How Can He/She Download The Pass Book For Both?
Out Of The Two Accounts Under The Same Establishment One Will Definitely Be Closed And The Second Account May Be The Active One. The Member Should Apply In Form 13 To Get The Old Account Transferred To The Active One. After Transfer The Amount Will Be Added To The Active Account And Will Be Displayed In The Pass Book.

Can The Member Download The Pass Book Of An Account Multiple Times?
Yes. With The Launch Of Electronic Challan Cum Return The Members Account Will Be Credited With The Monthly Contribution Amount Each Month. The Member Can Download The E Pass Book Any Number Of Times (Every Month) To Check The Latest Details.

A Member Has An Active Account But Some Of The Earlier Accounts Have Become Inoperative. How Can He/She Get The Details Of Such Accounts Through The Portal?
E Pass Book Of Inoperative Accounts Will Not Be Displayed. However The Member Should Apply In Form 13 To Get The Earlier Account Transferred To The Active Account. In Such Case The Details Of The Amount Will Appear In The Pass Book Of The Active Account.

A Member Does Not Know The Epfo Office Under Which His/Her Establishment Is Complying. How Can He/She Download His/Her Passbook?
The Member Can Use The Establishment  Search Facility On The Epfo Website To Get The Details Of The Office And Also The Code Number Of The Establishment.

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EPF Account Holders can view account status by e-Pass-Book facility.

EPFO has been uploaded a unique facility for EPF Account Holders to download free e-Pass Book. The subscribers, whose employer already uploaded the return cum challan to provident fund account, can download the e-passbook every month in which all the debit and credit entries will be shown as well as each registered EPF Account Holder can view their account status online. 

Key Features of this latest Facility are as under:

• The member can add multiple id numbers after registration and can use any one for login
• The Registered EPF account holder can download their e-pass book monthly from www.epfonline.gov.in.
• Inactive members who have not settled accounts can request for a passbook.
• If there is no passbook available for download, the request will be added automatically and a sms will be send to the registered mobile number when the passbook will be available for download.
• In case not available a request will be created on the portal and once the pass book is uploaded by the respective field office, an SMS will be sent to the member to login and download the pass book.
• The e-Passbook shall contain transaction-wise details of account (all credits and debits) since the month for which the details for the establishment have been processed in new application software at the field offices.
• The facility, however is not available for the members under establishments that are exempted under the EPF Scheme 1952 (as the fund details are maintained by the Trust), Inoperative members (i.e in accounts where no contribution has been received during preceding 36 months).

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Online view of EPF Account and e-Pass Book - FAQs.

What Is Member Portal?
Member Portal Is For Employee, Where Employee Can Check Own Pf Status.

What Is E-Passbook?
E-Passbook Is The Employee Provident Fund Status Book (Pdf). Employee Can Check Own Pf Status

Who Can Register On The Member Portal?
Any Member Of The Employees’ Provident Fund Can Register. At The Time Of Registration, Details Of the Pf Account(S) Is Not Required.

What Are The Advantages Of Registration?
Only A Registered Member Can Download His/Her Pf Account Passbook. Passbook Will Be Available for Immediate Download Only For The Active Members For Whom The Employer Has Uploaded An Electronic Challan Cum Return (Ecr) And Remitted The Dues. For Members Who Have Left The Service Before March 2012, The Pass Book Will Be Made Available If The Member Makes A Request For The Same On The Portal. Pass Book Of Members Having Inoperative Or Settled Accounts Will Not Be Displayed On The Portal.

Can A Member Create His Own User Id And Password On The Portal?
No. Any Chosen Document Number As In Pan, Aadhar, Passport, Etc Will Be The User Id And Mobile Number Will Be The Password. The Member Will Not Have To Remember The User Id And Password In Such Case.

Can A Pf Member Working For An Establishment Exempted Under The Epf Scheme Also Avail Benefits Under The Portal?
No. The Provident Fund Accounts In Such Case Are Maintained By The Respective Trust And Pass Book For Such Member Cannot Be Displayed Through The Member Portal.

A Registered Member Has Lost/Changed His Existing Mobile Number. Can He/She Change The Mobile Number On The Portal?
Yes, He/She Can Change The Mobile Number. Facility To Edit The Mobile Number Has Been Provided On The Portal. The Member Has To Login Using His/Her Id And Old Mobile Number And Then Edit The Existing Mobile Number. He/She Will Get A Pin Through An Sms On The New Mobile Number To Complete The Process.

What Are The Advantages Of Adding Multiple Document Numbers On The Portal?
The Member May At Any Point Of Time Be Carrying Any Of The Various Documents Such As Pan, Aadhar, Passport, Bank Pass Book. Adding The Multiple Numbers Gives Him/Her An Advantage Of Using Any Of The Number To Log In And Download His/Her Pass Book. He/She Will Also Not Have To Remember As To Which Document He/She Had Used For Registration.

If Any Document Number Is Wrongly Entered, Can It Be Edited?
Yes, The Number Can Be Edited. However The Document Number Used For Log In At The Time Of Editing Is Blocked. For Example, If A Member Has Logged In Using His/Her Pan, He/She Can Edit Any Other Document Number But Not The Pan. For Editing Pan If Wrongly Entered He/She Will Have To Log In With Some Other Document Number Already Added.

Why For Each Transaction The Member Has To Get And Enter The Pin Received On His/Her Mobile Number?
This Is To Ensure That The Portal Is Not Misused By Any Other Person Who May Know The Document Number And Mobile Number Of Any Other Member. The Record Of The Mobile Number Used For Registration And For Each Transaction Will Be Maintained In The Data Base And In Case Of Any Complaint, Action May Be Taken On The Basis Of The Mobile Number Used. Thus This Is Only To Safeguard The Interests Of The Members.

A Member Has Used One Identity Document To Register And Has Forgotten The Same. Can He/She Register Again Using His/Her Mobile Number?
No. One Mobile Number Can Be Used Only For One Registration. However He/She Can Click On The ‘Forgot Login’ Link Under The Fields For Document Number And Mobile Number To Get Through Sms His/Her Document Details Used For The Registration.

How Can A Member Download His/Her Pass Book?
After Login The Member Has To Use The Download E Passbook Link On The Portal. He/She Has To Select The State Under Which The Establishment Is Covered And Then The Epfo Office That Maintains His/Her Account. He/She Will Be Asked To Enter The Code Number, Account Number And His/Her Name. If The Passbook Is Available He/She Will Get A Pin On His/Her Mobile Number And On Entry Of The Pin He/She Will Get The Link For The Pass Book. He/She Can Open And Save The Pass Book On His/Her Computer.

What Entries Will Be Shown In The Pass Book?
Month And Date Wise Transactions Made In Member’s Account Will Be Displayed In The Pass Book From The Year For Which The Annual Accounts Were Updated For The Establishment For The First Time Since Computerisation Of The Concerned Field Office. For Example If The First Annual Accounts Of Member’s Establishment Were Updated For The Year 2008-09 By The Concerned Field Office After Its Computerisation, The Pass Book Will Display The Opening Balance For Year 2008-09 And All Transactions Thereafter.

A Member Has Left Service But Not Applied For Settlement Of His Account. Can He/She Download His/Her Pass Book?
Members Who Has Left Service Can Make A Request For Their Pass Book Through The Member Portal. Once His/Her Request Is Accepted On The Portal, He/She Will Receive An Sms When The Passbook Is Made Available On The Portal. He/She Can Then Login And Download The Pass Book. Passbook Will However Not Be Made Available If The Member’s Account Has Become Inoperative (No Contribution Received For 36 Months Or More) Or If It Is Settled. Pass Book Will Be Available For Immediate Download For Active Members Only For Whom The Employer Has Uploaded The Electronic Challan Cum Return (Ecr) And Has Made The Payment.

The Member Has Got The Pin On His Mobile Number While Downloading The E Passbook. But The Field For Entry Of The Pin Is Not Allowing Entry. What To Do?
The Field For Entry Of Pin Allows Enter Only When The Member Has Clicked On The Check Box With ‘I Agree’ Meaning That He/She Is Declaring That The Account Number He/She Has Entered Is His/Her Account And That In Case Of Amy Misuse Or Complaint His/Her Details Can Be Used For Suitable Action.

A Member Working For An Establishment Exempted Under The Epf Scheme Wants To Download His/Her Pass Book. Is It Possible?
No, The P F Accounts Of The Exempted Establishment Are Maintained By The Respective Trusts And Pass Book Of Such Member Cannot Be Displayed From This Portal.

While Downloading The E Pass Book A Message Appears “You Have Entered Invalid Members Id Or Name” What To Do?
Please Check Whether You Have Entered The Correct Code & Account Number And/Or Name. In Case Yes, The Name May Not Be Matching As Per The Record In Epfo. In Such Case The Member Has To Contact The Concerned Epfo Office.

The Member Has Downloaded His/Her Pass Book But There Is Some Error In The Name. What To Do?
At Present The Name As Appearing In The Pass Book Cannot Be Changed.

A Member Has Downloaded His/Her E Pass Book. However There Are Several Missing Entries In The Contributions. What To Do?
The Member Should Check First With The Employer Whether The Returns For The Month/Year Related To The Missing Entry Has Been Submitted By Him To The Concerned Epfo Office. In Case Yes Then He/She Can Contact The Concerned Epfo Office Regarding The Missing Details.

A Member Has Downloaded His/Her E Pass Book. However The Contributions Displayed Are Less Than The Actual Dues As Per His/Her Wages. What To Do?
He/She Should Check With The Employer As To What Amounts Have Been Shown In The Returns. In Case Of Any Grievance, He/She Should Contact The Concerned Pf Office.

A Member Has Attempted To Download The E Pass Book. He Is Not Getting The Pin. What To Do?
He/She Should Check The Message Displayed On The Screen. If The Message States That Pin Has Been Sent And The Pin Is Not Received, It May Be Because The Line Is Very Busy. In Such Case It Is Advised To Wait For Some Time And Try Again.

A Member Has Two Accounts In The Same Establishment? How Can He/She Download The Pass Book For Both?
Out Of The Two Accounts Under The Same Establishment One Will Definitely Be Closed And The Second Account May Be The Active One. The Member Should Apply In Form 13 To Get The Old Account Transferred To The Active One. After Transfer The Amount Will Be Added To The Active Account And Will Be Displayed In The Pass Book.

Can The Member Download The Pass Book Of An Account Multiple Times?
Yes. With The Launch Of Electronic Challan Cum Return The Members Account Will Be Credited With The Monthly Contribution Amount Each Month. The Member Can Download The E Pass Book Any Number Of Times (Every Month) To Check The Latest Details.

A Member Has An Active Account But Some Of The Earlier Accounts Have Become Inoperative. How Can He/She Get The Details Of Such Accounts Through The Portal?
E Pass Book Of Inoperative Accounts Will Not Be Displayed. However The Member Should Apply In Form 13 To Get The Earlier Account Transferred To The Active Account. In Such Case The Details Of The Amount Will Appear In The Pass Book Of The Active Account.

A Member Does Not Know The Epfo Office Under Which His/Her Establishment Is Complying. How Can He/She Download His/Her Passbook?
The Member Can Use The Establishment  Search Facility On The Epfo Website To Get The Details Of The Office And Also The Code Number Of The Establishment.

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View your EPF Account Pass Book Statements Online.

Recently a Very Good Utility has been started by Employees' Provident Fund Organization that is to view and watch your EPF account Pass Book Statement Online.  It means that the EPFO has been centralized EPF account. What one has to do is just create a Login on the official website of EPFO. The Department has made it very easy to remember your User Id and Password as you have to use your mobile number and any of your following identification proof number such as PAN, AADHAR, NPR (National Population Register), Bank Account, Voter ID, Passport or Driving License to register and thereafter to login. You can add multiple id numbers (one id against each of the listed types) and any one along with the mobile number can be used for the login. Only one Registration is allowed on One Mobile Number. If a registered member has worked under many organizations he can view only one organization account.  Get your old accounts transferred to the current one by using the Transfer Form 13. Inoperative Accounts can not be viewed at this stage. This facility will be activated later on. The establishments which have exemption under the EPF Scheme 1952 can not avail this facility.

How to Create Your ID?

• Go to EPFO official Webside.
• Select Create ID
• Create ID your Account
• File the required Information
• Finally it Create your EPF Online Account.

After Creating User ID and Password you can Download your PF Statement as shown below:


REGISTRATION BENEFITS:

• View your EPF Account Passbook online.
• Use any of your ID details to login.
• View all your accounts at a single place.
• Get SMS when e-Passbook is available.

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Withdrawal of Payment of Employee's Provident Fund scheme by member of EPF Scheme or Joint Account holder also.

As per Letter No. WSU/17(2)/2000 dated 15.06.2012 of Employee's Provident Fund Organization, Ministry of Labour and Employment, Government of India has been revised old Instruction in EPF Scheme regarding withdrawal of his money only in single Account by new amendment that and Employee (member of EPF Scheme) can withdrawal his claim/money by giving his joint or co-account owner also. But remember co-account owner must be his/her spouse (husband or wife) of member of EPF Scheme holder. Joint account with other person will not be entertained for withdrawal of Money from EPF department.

Employee's Provident Fund Organization, Ministry of Labour and Employment, Government of India further instructed to Regional office that no claim must be rejected due to the fact that member has preferred to withdraw the money in Joint account.

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Online EBF Account's Balance, Check Now.

Before a few months I will be post the information about E.P.F. Account Balance to check online. Now, E.P.F.O. has updated with online EPF Account Balance.

The following link to check online balance of your EPF Account upto the date, along with the latest approved transactions of settlement/advances/transfer-in/transfer-out etc.

• Select the EPFO office where your account is maintained and furnish your PF Account number.
• Leave the extension field blank, in case your account does not have one.
• You will be asked to enter your name and mobile number. The given mobile number will be recorded along with the PF Account Number.
  

On successful submission of above information, the details will be sent through SMS to the given mobile number.

Online EPF Account Balance Check Here
Online EPF Interest Rate Check Here
Online EPF Tax Check here
Online EPF Information Check Here

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EPF Interest Rate increased by 0.35% for Current Fiscal.

Interest rate on employees' provident fund will be increased to 8.60% in the current fiscal from 8.25% now. Labour Minister Mallikarjun Kharge said in the Rajya Sabha while replying a debate on working of Labour Ministry. He said next time, it will be 8.60%.

The Employees' Provident Fund Organization had brought down the rate of interest to 8.25% for 2011-12 from 9.50% per cent provided in 2010-11.

The retirement fund body EPFO has parked in excess of 55,000 crore rupees in the Special Deposit Schemes (SDS) aimed at providing better returns to non-government provident funds and other such funds. Kharge said the rate of interest on funds depend on the revenues.

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1.25% Reduced Interest Rate of Employee's Provident Fund (EPF).

There is a big loss of Interest to Public & Private Sector Employees on there Regular and Deposit Fund. EPF Interest rate was increase by 1% in the Fin. Year 2010-11 and the amount of 1% deposited as a suspense amount. During this year only for 4 months .06% interest rate is increased but at the end of year EPFO reduced the Interest Rate on Deposit and Regular Deposit Fund of Employees by 1.25%. This is big loss of Public and Private Sector Employees. Apart from this the EPFO allows to deposit invest more money by the employee except terms and conditions in securities, it is not viable for them to pay higher Interest rate.

Further Interest rate for Financial year 2011-12 has been announced when few days are left in the in the financial year and on the one day before the Union Budget 2012. On the other side RBI has not changed the interest rate ?

The reduction in interest rate on deposits in Employees' Provident Fund from 9.5 per cent to 8.25 per cent for 2011-12 affecting over 4.7 crore subscribers.

This cut was proposed by the finance ministry and a notification was issued by the labour ministry, official sources said.

The Employees' Provident Fund Organization (EPFO) had provided 9.5 per cent interest rate to its subscribers for 2010-11 after it found Rs 1,731 crore surplus in its books of account.

The labour ministry had recommended 8.6 per cent rate of interest for this fiscal on provident fund deposits to EPFO subscribers.

On 14.03.2012 FA & CAO issued a circular to all Regional provident commissioners (Download Now)

Interest rate of EPF (Click Here)

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