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And then the digital shift followed. The goal is to turn your PF from a paper-heavy mess into a near-instant digital wallet, or nothing.

One of the biggest wins is for families. Specifically, under the new “Essential Needs” category, you can now withdraw for education up to 10 times (up from 3) and for marriage up to 5 times.

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Plus, you only need to have been a member for 12 months to qualify, whereas it used to take up to 7 years. Let’s be real, this makes the fund much more useful for real-life emergencies, or nothing.

However, the safety net for job loss has been pulled tighter. Specifically, if you quit or lose your job, you can still grab 75% of your balance after a month, but you have to wait a full 12 months to get the final 25%. Even tougher is the pension (EPS) rule: you can now only withdraw your pension amount after 36 months of unemployment. Here’s the kicker: the

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EPFO is mandating a 25% minimum balance to be retained in your account to ensure you don’t drain your retirement fund prematurely. Specifically, the situation is designed to keep you earning that 8.25% interest even during career breaks.

The tech side is where the “3.0” really shows. Specifically, the organization is moving toward 100% auto-settlement for claims under ₹5 lakh. No more chasing your ex-employer for signatures.

And then there’s the talk of ATM and UPI-style withdrawals for emergencies, which could make accessing your money as easy as a bank transfer. Consequently, the transition to this new system is ongoing, and while it protects your long-term security, you’ll need to plan your withdrawals much more carefully from now on.

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The new guidelines, released on December 19, 2025, provide a clear roadmap for correcting mistakes made by employers when they either put too much or too little into your pension pot. Let’s be real, fixing these errors used to be a bureaucratic nightmare, or nothing.

The new rules split the fix into two main buckets. Specifically, if your employer wrongly put money into the Employees’ Pension Scheme (EPS) for someone who wasn’t even eligible (like those earning over ₹15,000 who joined after 2014), the EPFO will now recalculate that amount with interest.

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They’ll move that cash back into your Provident Fund (PF) account and wipe the incorrect “pension service” from your record.

And then there’s the other side: if you were eligible but your employer forgot to pay into your pension, the EPFO will now move the money from your PF to your Pension account, ensuring you get the service credit you deserve.

Here’s the kicker: this update also tackles the difference between exempted (private trusts) and unexempted (directly with EPFO) establishments. Specifically, for exempted trusts, the money will be physically transferred along with interest between the Trust and the EPFO’s pension account. This is a massive relief because these cross-transfers were where most claims used to get stuck.

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Consequently, the member’s service history, including any non-contributory periods, will finally be updated accurately. Let’s be real, having an accurate service record is the only way to ensure your monthly pension check actually shows up when you retire.

The situation is a direct response to a mountain of grievances about poor settlement handling. Specifically, the EPFO is moving toward a more automated, error-free system to match their EPFO 3.0 digital push.

If you’re currently facing a settlement delay, you should check your passbook for any “EPS Error” flags. Specifically, the fix is now standardized across all regional offices, so the “running around” should finally stop. Specifically, the rollout of these rules is ongoing, and it’s expected to clear the massive backlog of pending pension claims by early 2026.

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Here is the raw field report on the critical benefits you need to claim immediately:

1. Employer Payouts: Salary, Bonus, and Leave

The company must process the following as part of the final settlement:

• Pending Salary: Wages for the days the employee worked until death.

• Bonus/Incentive: Any pending or annual performance bonuses.

• Leave Encashment: Payment for any unused or accrued leave.

2. EPF Balance (The Main Fund)

The nominee is entitled to the full EPF balance, which includes the employee’s contribution, the employer’s contribution, plus all accrued interest.

• Claim Process: If nominated, claims can be filed online via the EPFO portal. If no nominee is registered, the legal heir must submit a Succession Certificate for an offline claim.

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3. Gratuity Benefit

Gratuity is a major, often overlooked, benefit. The kicker is, the usual rule of completing five years of service does not apply when death occurs during service.

• Maximum Limit: The maximum gratuity is legally ₹20 lakh.

• Calculation: It’s calculated based on the last drawn salary and total service using the formula:

  $$\text{Last salary} \times \frac{15}{26} \times \text{number of years of service}$$

4. EDLI Insurance (Free Life Cover)

The Employee Deposit Linked Insurance (EDLI) is a free life insurance cover. The employee pays no premium; the employer covers the entire cost.

• Payout: The nominee can receive insurance money ranging from ₹2.5 lakh to ₹7 lakh, depending on the employee’s average salary over the last 12 months.

• The Thing Is: This claim can be filed simultaneously with the PF claim using the same process.

5. EPS Family Pension (Monthly Income)

If the deceased employee completed at least 10 years of service and was an EPS member, the family is eligible for a monthly pension under the Employees’ Pension Scheme.

• Spouse: Gets the pension for life.

• Children: Receive a pension until the age of 25. Disabled children get it for life.

• Unmarried Employee: Parents can claim the monthly pension.

This financial cushion is vital during a traumatic time. Families must be aware of these entitlements to ensure no benefit goes unclaimed……

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Disclaimer: This information is based on current regulations under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, and associated schemes like EPF, EPS, and EDLI.

The post Beyond PF: What EPFO Nominees Can Claim After Death—Full Gratuity, EDLI Insurance, and Family Pension first appeared on Rightsofemployees.com.

EPFO: Employed individuals will now be able to withdraw the full amount from their PF accounts. However, there will be a requirement to maintain a minimum balance of 25%. This means that you will be able to withdraw 75% of your PF account easily. Withdrawing from your EPF will now be easier than ever. It’s also a relief that you won’t need to provide a reason for withdrawing 75% of your funds. In cases of natural disasters, pandemics, job loss (unemployment), and other such special circumstances, you will be able to withdraw funds without providing a reason.

To further modernize its services, the EPFO ​​has approved the “EPFO 3.0” digital transformation framework, which will include features such as cloud-based technology, mobile apps, and automatic claim settlement.

100% Withdrawal Facility
EPFO has eliminated 13 previous, onerous rules and now allows partial withdrawals in only three categories: essential needs (illness, education, marriage), housing needs (house-related expenses), and special circumstances. Members will now be able to withdraw the entire balance in their PF account (including both employee and employer portions). Previously, only three withdrawals were allowed for education and marriage, but now 10 withdrawals can be made for education and five for marriage.

Additionally, the minimum service period, which previously varied for different requirements, has been reduced to 12 months. The most significant change is that employees can now withdraw up to 100% of the balance in their account, including both the employee and employer contributions.

25% minimum balance required
EPFO has also ensured that members always maintain a minimum balance of 25% in their accounts. This will ensure that members continue to benefit from an interest rate of 8.25% and compound interest, which will help them build a substantial retirement corpus.

Withdrawals without explanation
Previously, in special circumstances (such as natural disasters, unemployment, or pandemics), a reason had to be given for withdrawals. Claims were often rejected in these circumstances. Now, this hassle has been eliminated. Members will be able to withdraw money without explanation under special circumstances.

How to withdraw money from EPF online?
These conditions must be met for online EPF withdrawals:

1. The UAN must be active and the registered mobile number must be working.

2. The UAN must have KYC (Aadhaar, PAN, bank details, and IFSC) linked to it.

3. If these conditions are met, employer verification is not required.

Steps to withdraw EPF on the UAN portal

1. Go to the UAN portal. Login with your UAN and password, enter the captcha, and click “Sign In.”

2. Go to Manage > KYC and verify your Aadhaar, PAN, and bank details.

3. Select Online Services > Claim (Form-31, 19, 10C, and 10D).

4. Enter your bank account number and verify.

5. Click “Yes” and sign the certificate of undertaking.

6. Click on “Proceed for Online Claim.”

7. Select the withdrawal type in the “I Want To Apply For” section:

Full EPF settlement

Partial PF withdrawal

Pension withdrawal

8. Fill out the form and click “Submit Certificates.” Upload scanned documents if required.

9. After your claim is verified, the money will be credited to your account.

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In India, a portion of your salary is automatically deposited into your Employees’ Provident Fund (EPF) account every month. The government offers an attractive interest rate of 8.25 percent, making EPF a safe and profitable long-term investment. Over time, it helps build a strong retirement fund.

But many people have a question, “If I quit my job at 40 or 45 and don’t withdraw my PF, will I continue to earn interest? Does the interest accrual stop after I become unemployed?” Let’s explain it simply.

According to EPFO ​​rules, if you quit your job before the age of 58 and don’t withdraw your PF, your account doesn’t become inactive. Your savings continue to earn interest until you reach 58. For example, if you quit your job at 40 and let your PF remain unused, it will continue to earn interest for the next 18 years.

If you retire at age 58 and don’t withdraw your PF immediately, your funds will continue to earn interest for the next three years, until you reach age 61. After that, the account will become inactive and interest will stop accruing. But don’t worry, your deposited money will be completely safe.

Many people withdraw their PF immediately after leaving their job because they think the account will automatically close. But doing so deprives you of interest for many years to come. Even if you’re tempted to invest in a fixed deposit or other scheme, it’s often better to let your PF money sit there.

This scheme is fully government-backed, offers stable interest rates, and offers tax benefits. This is why EPF is one of the most reliable and secure options for retirement planning.

How to Withdraw EPF Balance?

• Here’s a step-by-step guide:
• Visit the EPFO ​​website and log in with your UAN (Universal Account Number).
• Update your KYC details (such as Aadhaar, PAN, and bank account).
• Go to “Online Services.”
• Select the “Claim (Form-31, 19, 10C)” option.
• Verify your bank account.
• Select the withdrawal reason (such as retirement, medical need, home purchase, etc.).
  Verify with an OTP and submit the claim.
• Your money will be credited to your bank account within 7–8 days.

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While there’s a lot of discussion about the money deposited in a Provident Fund (PF) account and the pension it provides, many people aren’t even aware of its third benefit. Did you know that all salaried individuals with an account with the Employees’ Provident Fund Organization (EPFO) are automatically insured, without paying any premium? Yes, it’s absolutely true that employees receive life insurance benefits without a single rupee being deducted from their salary. Let’s learn about the life insurance benefits available to PF account holders.

EPFO Provides Automatic Life Insurance
EPFO, which manages PF accounts, provides automatic life insurance to salaried individuals working in the private sector. This is called the Employees’ Deposit Linked Insurance (EDLI) scheme. According to the rules, all EPF members are automatically eligible for this scheme. However, the premium is paid by the employer, not the employee. However, employers never even mention paying the EDLI premium.

Employees receive life insurance absolutely free.
In fact, the premium amount for the EDLI scheme is very small. According to the rules, the maximum monthly premium can be only ₹75. The premium is determined based on the employee’s basic salary. The EDLI scheme premium is only 0.5% of the basic salary. The rule also stipulates that the EDLI scheme premium can only be paid on a basic salary of ₹15,000. Therefore, the premium for ₹15,000 is ₹75, which is the maximum limit for the EDLI scheme.

Family members can receive up to ₹2.5 lakh to ₹7 lakh.
This life insurance benefit, available on the PF account, is passed on to the family members of the employee upon their death while in service. Fortunately, the cause and location of death are independent of the insurance amount payment. If an employee has been employed for the past 12 months and dies for any reason, whether in the country or abroad, their family will receive the insurance amount. This amount can be up to a maximum of ₹7 lakh. Let’s figure it out.

Know the PF insurance amount calculation
The amount of insurance money that the deceased’s family will receive depends on the deceased’s last salary and the average balance in their PF account over the past 12 months. According to the rules, a minimum of ₹2.5 lakh is given, with a maximum of ₹7 lakh. There is a fixed formula for calculating the amount a deceased’s family will receive, ranging from ₹2.5 lakh to ₹7 lakh.

30 × (average basic salary for 12 months, which can be a maximum of ₹15,000) + bonus. The bonus amount is also fixed at ₹2.5 lakh. Therefore, even if an employee has no money left in their account, they will still receive at least ₹2.5 lakh as bonus. Similarly, if an employee has deposits in his account up to the maximum limit of basic salary of Rs 15,000, then on his death, his family will get (30 × ₹15,000) + ₹2,50,000 = ₹4,50,000 + ₹2,50,000 = ₹7,00,000.

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EPFO Tagline Contest 2025: If you consider yourself adept at thinking and acting uniquely, the EPFO ​​is offering you a chance to win ₹21,000. The EPFO ​​recently organized an online contest in which you must create a unique tagline. This tagline should be highly relatable and resonate with people.

However, the Employees’ Provident Fund Organization (EPFO) has set certain conditions for winning the ₹21,000 prize. Failure to comply with these conditions could result in forfeiture of the prize.

What are the EPFO’s conditions?

This EPFO ​​contest may appear simple, but its rules are quite strict. According to the EPFO’s requirements, the tagline must be in Hindi. It should not contain more than 10 words. You must also include the message your tagline conveys. Most importantly, taglines created using AI will not be valid.

How can you participate in the EPFO ​​contest?

Anyone can participate in this exciting EPFO ​​contest. To participate, first visit www.mygov.in. Then, click on the EPFO ​​Tagline Contest in the Do/Task section. Now, go to Login to participate. Once logged in, enter your tagline.

Three people will receive a prize

There will be three winners in this EPFO ​​contest. The first winner will receive 21,000 rupees, while the second and third winners will receive prizes of 11,000 and 5,100 rupees respectively. If you want to participate, hurry up. This EPFO ​​contest has been running since October 1st. The deadline for participation is October 10th.

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PPF Rate Revision: Millions of Indians invest in Post Office schemes. They are still considered the most reliable savings option. Investing here carries no risk and offers guaranteed returns. The Post Office offers excellent schemes for everyone, from children to women to senior citizens. The Public Provident Fund Scheme is included in this list, which is considered a good investment option. Depositing money into this scheme allows you to build a substantial corpus. This scheme once offered excellent interest rates, but then began to decline. Despite these reductions, investor interest remains strong.

It should be noted that the central government reviewed the interest rates of small savings schemes operating in the country for the December quarter and did not consider any changes necessary. Investors waiting for an increase in the Public Provident Fund (PPF) interest rate have been disappointed once again. PPF interest rates have remained unchanged since April 2020. Currently, they are 7.1% annually, which is lower than many other post office schemes. However, this scheme can still be considered a crorepati scheme.

Significant Decline in PPF Interest Rates

In the 1990s, PPF offered interest rates of up to 12%. Over time, interest rates steadily declined. Until January 1, 2000, the PPF interest rate was 12% annually. Then, on January 15, 2000, the PPF interest rate was reduced by 1% for the first time. In 2001, it rose to 9.5 percent. In 2002, it fell to 9 percent and 8 percent in 2003. In 2012, it rose slightly to 8.8 percent. In 2013, it rose again to 8.7 percent. In 2016, it fell to 8.1 percent and 7.6 percent by 2018. Since 2020, it has remained stable at 7.1 percent.

You can become a millionaire even at the current interest rate.

Up to ₹1.50 lakh can be deposited in PPF every financial year. The current interest rate on this scheme is 7.1 percent annually. Its maturity is 15 years. However, it can be extended for 5 years after maturity. Keep in mind that it can be extended for 5 years at a time. After the first extension period is completed, it can be extended for another 5 years.

How much will be the fund if you deposit Rs. 50,000 annually?

A minimum of Rs. 500 and a maximum of Rs. 1.50 lakh can be deposited into a PPF account in a year. The biggest strength of PPF is compounding. This means that the earlier you start investing, the more time your money will have to grow. A small investment made at the age of 20-25 can create a much larger corpus than a large investment made at the age of 40-50. A PPF account matures in 15 years. If you wish, you can extend it for another 5 years by filling out a form.

Any PPF account can be extended for 5 years at a time, up to a maximum of 50 years. A PPF account can be opened at any bank. You can also open a PPF account at your nearest post office. If you deposit ₹50,000 annually into your PPF account, you will receive a total of ₹34,36,005 after 25 years. This includes your investment of ₹12,50,000 and interest of ₹21,86,005.

Tax Benefits in PPF

PPF falls under the Triple-E (Exempt-Exempt-Exempt) category. This means it offers tax exemptions at three levels. First, you will receive tax exemption under Section 80C on investments up to ₹1.5 lakh per year. Second, the interest earned on the investment is completely tax-free. Third, there is no tax on the entire amount received upon maturity after 15 years. This is why PPF is considered more beneficial than options like FDs.

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Does an account become inoperative and your money is lost?

If you don’t withdraw money from your PF account within three years of retirement, the EPFO ​​deactivates the account. Deactivation of the account doesn’t mean your money will be lost, but rather that interest on that money will stop.

How long after retirement does interest accrue?

The EPFO ​​recently announced on its X Account that if someone retires at the age of 58, their EPFO ​​account will continue to earn interest for the next three years, until the age of 61. After 61, interest on the EPFO ​​account will stop and the account will be deactivated.

Withdrawing money from the EPFO ​​is now easier than ever, especially if your account is linked to a UAN (Universal Account Number) and your KYC is complete. Today, we’ll explain both online and offline methods.

What is the offline method?

• First, you need to visit the nearest EPFO ​​office.
• Then fill out Form 19, Form 10C, or Form 31 (depending on your claim).
• Follow this process by attaching a copy of your identity card and bank passbook.
• If necessary, have the company sign and stamp it.Then submit the form.
• The money will usually be credited to your bank account within 7–10 working days.

Learn the online method as well.

• First, visit the EPFO ​​website and login to your UAN.
• Update your KYC.
• After logging in, go to Online Services.
• Click on Claim (Form-31, 19, 10C).
• Verify your bank account.
• Select your EPF withdrawal reason (e.g., retirement, medical, home purchase, etc.).
  Verify with an OTP.
• Enter the OTP and submit your claim.
• The money will be credited to your bank account within 7-8 days.

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Public Provident Fund is a government-backed investment and tax-saving instrument. With the help of this, one can not only build up funds for post-retirement needs. Moreover, every year’s savings also provide tax relief. The tenure of this account is 15 years. Can it be closed before the tenure, i.e. within two years of opening? Let’s know more about it.

Before knowing whether PPF account can be closed prematurely, let us know the detailed information about PPF account. Public Provident Fund (PPF) is a long-term investment scheme available to all Indian citizens. It can be opened by children as well as adults. The tenure of PPF account is 15 years. After that, its assistance can be extended for a period of five years.

A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested in this account in each financial year. This amount can be paid in a single installment or in a maximum of 12 installments during the year. A minimum of Rs 100 has to be paid while opening the account. If an amount exceeding Rs 1.5 lakh is deposited in the PPF account in a financial year, no interest is earned on it and no tax deduction is available. It is necessary to deposit money into the account at least once every year for 15 years after opening the account.

The most important benefit of a PPF account is that the interest earned in this account, as well as the amount received after the maturity of the account, is tax-free as per Section 80C of the Income Tax Act 1961. Currently, the interest rate of PPF is 7.1 percent. This interest is compounded. The interest rate is reviewed every three months. The interest rate may be lower or higher.

Can money be withdrawn before the maturity date?

The rules of PPF account are that the account can be closed only after completing 15 years and all the money can be withdrawn along with interest. Permission to withdraw some amount is given from the sixth financial year. Up to 50 percent of it can be withdrawn. If money is needed before six years, there is a loan facility. One year after opening the PPF account and till the end of the fifth financial year, one can avail the loan facility on the PPF account. Up to 25 percent of the total deposit can be taken as a loan.

If some special circumstances arise, the PPF account can be closed after five years. In case of premature closure, the money is returned after deducting one percent interest from the date of opening the account. Let’s see under which circumstances the account can be closed in this way.

•  For emergency medical expenses of the account holder himself, wife or children
•  For higher education of the account holder himself or his dependent children…
•  If the account holder shifts abroad
•  If the account holder passes away, the account is closed before maturity. The nominee or

heir is not allowed to continue the account. In such a situation, interest is paid up to the end of the month preceding the month of closure of the account.

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Employees’ Provident Fund Organization (EPFO) has made the process of withdrawing money from PF easier. EPFO has started Auto Mode Settlement. More than 6 crore PF members will benefit from this. This is a facility which provides funds to PF members in emergency. Under this, money will be sent to your bank account within 3 days.

Under auto-mode settlement, employees can withdraw advance money from their EPF at the time of emergency. EPFO allows its subscribers to withdraw money from the fund for some types of emergencies. This includes treatment of emergency diseases, education, marriage and buying a house. For any one of these emergencies, you can withdraw advance funds from your PF account.

Claim settlement will be done through auto mode system.

In case of emergency, auto mode for claim settlement of this fund was started in April 2020 itself, but at that time money could be withdrawn only during the time of illness. Now its scope has been expanded. You can withdraw money from EPF for illness, education, marriage and even buying a house. Along with this, now subscribers can also withdraw advance funds for the marriage of sister or brother.

Up to how much money can be withdrawn?

The limit of advance fund from EPF account has been increased. Earlier this limit was Rs 50,000, which has now been increased to Rs 1 lakh. The work of withdrawing advance will be done through auto settlement mode computer. There is no need for approval from anyone. The money comes to your account within three days. However, you will be required to submit some documents. This includes KYC, eligibility of claim request, bank account details.

What is the process to withdraw advance amount?

• First of all you have to log in to the EPFO ​​portal. For this UAN and password are necessary.
• After logging in, you have to go to online services and then select the claim section.
• Then you will have to verify the bank account. Advance money will come into this bank account.
• Now you have to upload a copy of your bank account check or passbook.
• Then you will have to tell the reason due to which you want to withdraw money.
• Now you will have to follow some further processes and apply. The money will come to your account within three to four days.

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EPF Interest rate: 8.25% interest is being given on the money deposited in the Employees Provident Fund (EPF) account. This was decided by the Central Board of Trustees (CBT) of the Employees Provident Fund Organization (EPFO). Approval has also been received from the government. Now just waiting for it to be credited to the Provident fund account. This interest rate will be for 2023-24. This will benefit more than 7 crore employees of the country.

How much interest will you get?

If you have Rs 1 lakh deposited in your EPF account after getting interest at the new rate, then you will get interest of Rs 8,250 on it in a year. If you deposit Rs 3 lakh then you will get interest of Rs 24500. At the same time, in case of Rs 5 lakh, interest of Rs 41250 will come. According to EPFO, interest will be credited in all provident fund accounts by July-August. But, if you want to know how much interest will come in your account, then the method is quite easy. You can know with a small formula.

Benefit of higher interest on EPF

The Board CBT of the Employees Provident Fund Organization (EPFO) had fixed 8.25% interest on EPF Account in February 2024 for the financial year 2023-24. After this it was approved by the Finance Ministry. The interest on Provident Fund was increased as compared to earlier. The interest on EPF account for the financial year 2022-23 was 8.15 percent.

How is EPF deducted from your salary?

If we look at the EPFO Act, 12% of the basic pay and DA of any employee is deposited in the PF account. The company also deposits 12% contribution in the employee’s PF account. Of the company’s contribution, 3.67 percent is credited to the EPF account. At the same time, 8.33 percent money is deposited in the Pension Scheme.

Understand how much benefit there is from higher interest?

Now let’s talk about the calculation of EPF interest. Understand this with an example. Suppose you have a total of Rs 10 lakh in your account, then in the last financial year you used to get Rs 81,500 at the rate of 8.15% interest. At the same time, due to increase in EPF interest rate to 8.25%, interest of Rs 82,500 will be available on this Rs 10 lakh. By increasing interest by 0.10%, you will get the benefit of interest of Rs 1000. If you have deposited Rs 5 lakh then you will get interest of Rs 41,250 this year.

How to check your EPF balance and interest received or not?

EPF balance can be checked sitting at home. Many options are given in this. You can find out through Umang App, EPFO portal or SMS from mobile phone.

•  Go to EPFO portal (www.epfindia.gov.in).
•  Click on E-PassBook option.
•  Log in on the new page by entering UAN, password and captcha code.
•  After logging in, select the Member ID option for Passbook.
•  Passbook will be available in PDF format, which can be downloaded.
•  You can access the passbook directly at https://passbook.epfindia.gov.in/.

Started with 3% interest in 1952

In 1952, the interest rate on EPF was only 3%. However, later it was increased. In 1972 it reached 6% and in 1984 it reached above 10% for the first time. The best time for PF holders was from 1989 to 1999. During this period, 12% interest was available on PF. After this the interest rate started falling. After 1999 the interest rate never came close to 10%. Since 2001 it has remained below 9.50%. For the last seven years it has been 8.5% or less.

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In today’s era, insurance cover has become very important. With this the financial future of the family becomes secure. This is the reason why most people insure their home and vehicle as well. But, there is a scheme of the government in which you get the benefit of insurance worth Rs 7 lakh without spending a single penny.

How to get insurance
If you are employed and Provident Fund (PF) is deducted from your salary, then you will get an insurance of Rs 7 lakh. The best thing is that you will not have to pay a single rupee as premium. This insurance is provided by the Employees Provident Fund Organization (EPFO).

Actually, all members of EPFO ​​get coverage under the Employees’ Deposit Linked Insurance Scheme (EDLI) 1976. In this, insurance cover can be provided in case of illness, accident or natural death of the employee. In such a situation, the employee’s nominee or legal heirs can get assistance up to Rs 7 lakh.

How is the insurance amount decided?
0.5% of the PF deducted from the employee’s salary is deposited in the EDLI scheme. The amount you will get under the ELDI scheme is decided on the basis of your salary for the last 12 months. The claim for insurance cover will be 35 times the last basic salary plus DA. Additionally, a bonus amount up to Rs 1,75,000 is also available.

For example, if an employee’s average salary plus DA for the last 12 months is Rs 15,000. In this case the claim amount will be 35 x 15,000 i.e. Rs 5,25,000. By adding a bonus of Rs 1,75,000 to this, the total claim amount will become Rs 7 lakh.

How much does one get for insurance claim?
Under the EDLI scheme, one can get an insurance claim of minimum Rs 2.5 lakh and maximum Rs 7 lakh. However, the condition for minimum claim is that the employee should be in continuous employment for at least 12 months. Account holders who leave their jobs do not get this benefit.

Claim on this insurance can be made only in case of death occurring during employment. Whether he is in office or on vacation. But, this insurance claim is not available after retirement. While making an insurance claim, documents like death certificate and succession certificate are asked for.

If the claim is being made by the guardian of a minor, then guardianship certificate and bank details will also have to be given.

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EPF Account Merge Process: If an employee changes job then he has to tell his old UAN to the new employer. Additionally, a request should also be made to transfer the amount deposited from the previous account to the new account. This request can be made using the ‘One member -One EPF account (transfer request)’ facility in the online services tab. With this, the balance of all previous accounts can also be transferred to the new account.

When you submit the form to transfer money, it first goes to the employer you have selected for approval. Then this form is sent to the concerned office of EPFO. While submitting the form, you will have to indicate which UAN/Member ID you want to transfer. You will also have to tell whether the old or new employer will attest to the transfer request.

After this the process of Aadhaar verification will have to be completed. Only after all these steps, the form reaches the EPFO office, from where it is approved and the further process starts. It usually takes about 20 days to transfer money from your PF account to another account. Many times people also have a question that what happens to such PF accounts which were opened before the implementation of UAN?

If a PF account was opened before the implementation of UAN and UAN was not created at that time. In such a case, to get the UAN made for that account, the person will have to take the help of his previous employer. The employer can create UAN for such employees through its PF login portal.

Once the UAN is generated for the old PF account, you can transfer or merge the amount deposited in both the accounts by following the process mentioned above. The thing to note here is that to do this, your UAN should be active and linked with Aadhaar. Apart from this, it is also necessary to complete your KYC.

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4.45 crore claims settled

In the information given by EPFO, it was also told that the limit of this facility has been doubled from the earlier Rs 50,000 to Rs 1 lakh. According to a statement, EPFO has settled about 4.45 crore claims during the financial year 2023-24. Of these, more than 60 percent (2.84 crore) claims were advance (withdrawal of money on the basis of illness, marriage, education). If understood in simple language, it means that you can withdraw up to Rs 1 lakh for education, marriage or housing needs.

Approval is received in 3-4 days

Out of all the advance claims approved last year, about 90 lakh claims were auto settled. In the new system, all work is done through computers, due to which there is no need of manpower for any work. This is the reason why the time taken for approval of advance claims has also reduced. Earlier it used to take 10 days. But now this work is done in just 3-4 days.

Facility started from May 6

If the computer system does not approve a claim, it is not returned or canceled; rather, such cases are re-examined and then approved. The facility of passing claims in automatic mode has been implemented by EPFO from May 6, 2024. Till now 13,011 people have got benefit through this. According to the news published in Economic Times, Rs 45.95 crore has been approved so far.

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PPF Investment: Apart from saving, investing in Public Provident Fund is a means of good interest and tax saving. Most Indians like to invest in this scheme. There is a government guarantee on this. The special thing is that this investment has been kept in E-E-E category. Meaning your investment, interest and maturity amount are absolutely tax free. Tax exemption is available on investment up to Rs 1.5 lakh annually in PPF. But, you can increase this investment and also take advantage of double interest. Let us understand…

How does investment double?.

Under Section 80C of Income Tax in PPF, tax exemption is available on investments up to Rs 1.5 lakh. The maximum investment limit in PPF is Rs 1.5 lakh. You can deposit money 12 times in a year. But, here is something useful for married investors. If you open PPF in the name of your partner, you can double the investment in one financial year and can also avail interest on both the accounts.

These benefits are available on investment in PPF

Experts say that by opening a PPF account in the name of his life partner, the investor can invest in PPF instead of his other investment options. In such a situation he will have two options. First, you can deposit up to Rs 1.5 lakh in your account. At the same time, another can deposit Rs 1.5 lakh in the name of the partner in a financial year. Different interest will be available on these two accounts. At the same time, tax exemption of up to Rs 1.5 lakh can be availed on any one account. In such a situation, your PPF investment limit will double to Rs 3 lakh. Being in the E-E-E category, the investor will also benefit from tax exemption on interest and maturity amount of PPF.

No effect of clubbing provisions

Under Section 64 of Income Tax, the income from any amount or gift given by you to your wife will be added to your income. However, in the case of PPF which is completely tax free due to EEE, the clubbing provisions have no impact.

E-E-E category trick
At the same time, when your partner’s PPF account matures in the future, the income from your initial investment in your partner’s PPF account will be added to your income year after year. Therefore, this option also gives married people an opportunity to double their contribution to the PPF account. At present, the interest rate of PPF is fixed at 7.1 percent.

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EPFO New Rules- Every employed person in India has an EPF account. These accounts are operated by the Employees Provident Fund Organization i.e. EPFO. Every month, 12 percent is deducted from the employee’s salary and deposited in this account. You can also use this fund in emergency (emergencuy fund) and apply online for advance withdrawal.

If you are also employed then there is news beneficial for you. Those employed by EPFO have got a big relief. EPFO has changed the rules for withdrawing money. Now the EPFO cash withdrawal limit has been doubled. However, EPFO has doubled the amount to withdraw money for treatment. Let us tell you how much money you can withdraw now?

For information, let us tell you that the rules for medical related advance withdrawal have been changed by EPFO. Earlier this claim limit was Rs 50,000 and now it has been increased to Rs 1 lakh. This came to light from the circular issued on April 16. According to the circular issued by EPFO, now you can withdraw Rs 1 lakh.

This form is for partial withdrawal

Let us tell you that EPFO has doubled the limit for withdrawal of money under para 68J of Form 31 (EPFO Limit double). Form 31 of EPF is for partial withdrawal. This form is used for premature withdrawal of money for many purposes. In this you can withdraw money to build a house, buy a house, get married and get treatment.

Know when you can withdraw Rs 1 lakh?

For information, let us tell you that Para 68J of Form 31 is used to withdraw partial amount for the treatment of disease (form 31 for withdraw partial amount). Under this, earlier you could withdraw only Rs 50,000, but now you can withdraw Rs 1 lakh. But while withdrawing the money, you have to keep in mind that the employees cannot withdraw their 6 months’ bequest and DA or the employee’s share along with interest. But yes… If you have funds of Rs 1 lakh in your account above this amount, then you can withdraw it.

Under what circumstances can a claim be made?

According to EPFO, account holders can use this money only for life-threatening diseases (withdrawal of pf amount for disease). You can also withdraw money when the employee or his patient is admitted in the hospital.

Let us tell you that it is necessary for the employee to be admitted in a government hospital or any hospital associated with the government. At the same time, if you have admitted the patient in a private hospital, then he will be examined first and then you can make a claim.

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EPFO has doubled the limit for withdrawal of money under para 68J of Form 31. Earlier this amount was Rs 50,000, now it has been increased to Rs 1 lakh. Form 31 of EPFO ​​is the form related to partial withdrawal. It is used for premature withdrawal of money for various purposes. Different tasks have been put in different paragraphs. This includes tasks like marriage, building a house, buying a house and withdrawing money for treatment.

Para 68J of Form 31 is given to withdraw partial amount for the treatment of illness. Under this, earlier Rs 50,000 could be withdrawn but now this amount will increase to Rs 1 lakh. However, one thing to be remembered here is that the employee cannot withdraw 6 months’ basic and DA or the employee’s share including interest (whichever is less). This means that if you have Rs 1 lakh more in your PF above this amount, then only you will be able to claim it.

What has changed?
This limit has been increased under 68J. In this, the subscriber can prematurely withdraw Rs 1 lakh from his PF account for the treatment of himself or any member of his family. This was announced by issuing a circular on 16 April. If someone wants to take advantage of this, he can fill Form 31 and submit it. But Certificate C will have to be submitted along with this form, in which signatures of both the employee and the doctor will be required.

What is Form 31
As we told that Form 31 looks at partial withdrawal from PF for different purposes. It has many different clauses under which money is withdrawn for various purposes. For example, under Para 68B, money can be withdrawn to repay the loan in special cases. Under 68H, money is withdrawn for advance in special cases. You have already known about 68J. Similarly, 68BB, 68K, 68N and 68NN are used for everything from children’s education and marriage to withdrawing funds before retirement.

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Apart from this, EPFO ​​member can withdraw the entire amount from his PF account after retirement. Meanwhile, EPFO ​​member can also apply for partial withdrawal from his PF account in various situations.

These situations are as follows:

own or child’s marriage

Medical needs

To buy a house

To repay a home loan

To renovate a house

Note that for most of these partial withdrawals, the member must have been an EPF member for a minimum of five or seven years. If you change jobs, your EPF passbook balance will be automatically transferred to the new employer.

Withdraw money from your PF account online like this

First of all, you need to ensure that you have four details – Universal Account Number (UAN), member’s bank account number, ID proof and a canceled cheque.

• Now you have to go to the UAN portal and enter your UAN number and password.
• Now you will get an OTP on your mobile number linked to Aadhaar. Enter this OTP and captcha.
• Now your profile page will open. On the top right side of the web page you will find the option “Online Services”. Now click on ‘Claim’ from the scroll down options.
• Now you have to verify the member details by entering the bank account number linked to EPFO.
• You will then receive a Certificate of Undertaking stating that the claimed amount will be credited to this bank account by EPFO. Now you have to click on ‘Yes’ to the terms and conditions.
• Now you can proceed for online claim. As soon as you click on this option, a section will open in which you will have to enter more details.
• Here you have to provide your address and also upload some documents like scanned check and Form 15G.
• In this way, claim will be submitted to withdraw the balance of EPF account.

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EPFO PF Transfer New Rule: Employees Provident Fund Organization (EPFO) has started a convenient facility for its members. This new change will automatically transfer EPF accounts on change of job.

That means, if you move from one company to another, you do not need to transfer your first money yourself. He himself will be added to the account of the new company. However, despite this, how and to whom will this facility provide convenience?

What is the automatic transfer process?
The automatic transfer process enables existing EPF members changing jobs to transfer their PF balance from their old employer to the new employer without the need for any online or offline request. This means that EPF account transfer happens automatically, eliminating the hassle for members.

Who can avail this facility?
However, it is important to note that this facility is available only to those EPF members whose EPF accounts, both old and new, are maintained by EPFO. Exempt PF Trusts are not covered under this automatic transfer process.

How to avail the benefit of automatic transfer facility?

• The UAN and Aadhaar number provided by the new employer should match the information available with the UAN.
• The Aadhaar number of the EPF member should be linked and verified with the UAN at the previous place of employment.
• Information like date of joining, date of leaving and reason for leaving the company should be available from the old employer.
• EPF member’s UAN should be active and their mobile number should be active.

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Employees’ Provident Fund Organization (EPFO) provides pension to its shareholders. The amount of pension a shareholder will receive depends on the contribution and age of the shareholder. EPFO starts giving pension when a subscriber completes 58 years of age and has contributed to EPFO ​​for 10 years. But, if a subscriber takes pension from EPFO ​​at the age of 60 years instead of 58 years, then he gets more pension. If you start taking pension at the age of 60 instead of 58, then you will get 8 percent more money as pension than the normal pension amount.

EPS is a pension scheme run by EPFO. Every month, 12 percent of the employee’s basic salary + DA is deposited in the PF account. The employer’s contribution is also the same. Out of this, 8.33% amount goes to the employee’s pension fund (EPS Fund) and only the remaining 3.67% amount goes to the PF account. EPFO has explained about the rules related to pension in an X post.

Check out our informative video on member pension benefits provided by EPFO! 👇https://t.co/qPvJMabJXr #MemberPension #EPS95 #HumHaiNa #EPFOwithYou #EPF #EPFO #ईपीएफओ #ईपीएफ pic.twitter.com/AKqzYnX97H

— EPFO (@socialepfo) April 5, 2024

According to EPFO ​​rules, any employee who contributes to EPFO ​​and has completed 10 years of service, becomes eligible to receive pension. If the total period of employment is less than 10 years, then the amount deposited for pension can be withdrawn anytime in between. Employees who have completed service period of 10 years or more are given pension from EPFO ​​after retirement i.e. from the age of 58.

Why is higher pension given?

EPFO ​​provides the facility to take higher pension at the age of 60 to encourage the subscribers to contribute more. Shareholders can deposit money in EPFO ​​pension fund till the age of 60 years. EPFO subscriber can get pension even after turning 50 years of age and contributing for 10 years.

You will get less pension.

If your 10 years of service period has been completed and your age is between 50 years to 58 years, then only you can claim for early pension. But in this you get less pension. The earlier you withdraw the money before the age of 58, the pension you will get will be reduced by 4 percent for every year. Suppose a person withdraws monthly pension at the age of 56, then he will get only 92 percent (100% – 2×4) of the basic pension amount.

If you are below 50 years of age,

if you have completed 10 years of service and your age is below 50 years, then you cannot claim pension. In such a situation, after leaving the job, you will get only the funds deposited in EPF. Pension will be available from the age of 58 years.

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PPF Account Maturity: PPF is a very popular scheme among middle class investors. By investing in this, you not only get excellent interest but also get tax benefits. You can deposit a minimum of Rs 500 or a maximum of Rs 1.5 lakh every year in the PPF account. In this small savings scheme run by the government, you get tax exemption under Section 80C of the Income Tax Act.

You have three options

The returns received on investments made in PPF are not taxable. For these reasons it is better than other investment options. Apart from this, you can also opt for Loan Against PPF balance at the time of your need. Despite the lock-in period of 15 years, while the PPF account is active, you also have the facility to take a loan from it or make partial withdrawals. You have three types of options on maturity of PPF account, let us know which ones?

1.) Close the account and withdraw all the money.

2.) Extend the account without depositing any money.

Close the account and withdraw all the money

After maturity of PPF account, you have the option to close it and withdraw the entire amount. You can close your PPF account only after 15 years from the end of the financial year of opening your PPF account. Once your account matures, you can withdraw the entire money. To do this, you will have to submit the completed Form C in the branch or post office where you have your PPF account. After this process, your money will be deposited in your bank account and the PPF account will be closed. Some banks use Form-2 instead of Form C.

Continue account without depositing anything

After the maturity of the PPF account, you have the option to extend it for an unlimited period of five years each. During this extended period, you are not required to make a fresh deposit. But you can still make partial withdrawal under certain conditions. However, additional deposits will not be accepted. Interest will continue on the remaining amount for the next five years. You are allowed one partial withdrawal every financial year during this period. Any amount of the remaining money can be withdrawn by the account holder once in every financial year. It is important to note that if you continue for more than a year without depositing any amount, you cannot choose to restart investing for subsequent five-year blocks.

Continue by depositing money into your account

You can continue your PPF account even after maturity. Along with this, you can also make new investment in it. To keep the account active, you will have to inform the bank by filling Form H before the end of the year. If you continue to deposit without submitting this form, then the money deposited by you will not be considered regular and you will not get any interest on it. Additionally, if deposits are made in the PPF account after a period of 15 years without opting to keep the account active, they will not be eligible for the tax benefits provided under Section 80C of the Income Tax Act.

If you choose to extend your PPF account without depositing any money, you can withdraw any money from your balance once in a financial year by earning interest on the remaining amount. On the other hand, if you decide to extend the account with deposits, you are allowed to make partial withdrawal only once during the extension period. To do this you will have to submit Form C. There is also a condition in this that at the beginning of the extension period, more than 60% of the total amount deposited cannot be withdrawn during five years.

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Employee Provident Fund New Epfo Rules: 1st April means the beginning of a new financial year in India. Many new rules have been implemented since yesterday. At the same time, Employees Provident Fund Organization (EPFO) has also brought important changes from April 1.

According to various media reports, with the new rule, when a person changes jobs, his old provident fund (PF) balance will be automatically transferred to the new employer (new PF account).

The new rule will eliminate the need for EPFO ​​account holders to manually transfer PF upon joining a new company. Earlier, despite having Universal Account Number (UAN), individuals had to face hassle for PF transfer, but now the earlier money will be transferred automatically.

As per EPF rules, employees have to contribute 12% of their monthly basic salary, employers also have to contribute equal to this contribution.

EPFO added 16.02 lakh members in January 2024
According to the Labor Ministry, according to the payroll data released on Sunday, EPFO ​​saw an increase of 16.02 lakh subscribers in January 2024. About 8.08 lakh members were newly enrolled during this period.

The ministry said that the provisional payroll data of the Employees’ Provident Fund Organization (EPFO) indicates a net increase of 16.02 lakh members in January 2024.

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New Delhi. There is good news for EPFO account holders. Now account holders will not need to request for PF transfer manually on changing jobs. EPFO has started the facility of automatic fund transfer. This facility has started being available from 1st April i.e. today. Earlier, despite having a Universal Account Number (UAN), people had to request for PF transfer. This was somewhat tiring work.

Now employed people can search for a new job without worrying about this hassle. On changing new job, the money in the EPF account will be transferred automatically. Let us tell you that employees have to keep 12 percent of their salary in EPF. Besides, the employer also has to deposit equal amount in the EPF account on behalf of the employee.

What is the benefit of UAN?

Universal Account Number (UAN) is issued by different employers to their employees. It works as a centralized platform for different EPFO accounts. This links different accounts together. The UN provides many types of services. Such as, UAN card, transfer-in details, ability to link PF ID of previous members with current PF ID and EPFO related information are received through SMS.

What is EPFO?

It is a body working under the Ministry of Labor and Employment of the Government of India. Its function is to regulate and manage the pension fund of employees. It also manages social security agreements with other countries. At present 8.10 percent interest is being given in EPFO. In this, both the employer and the employee deposit money and get interest on that money. This total amount together forms the provident fund for the employee.

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Earlier PF account had to be merged.

Earlier, whenever you changed jobs, new PF accounts were added to the UAN. After changing jobs, you had to go to the online EPFO website and merge your EPF account. No, now you will not need to merge or transfer your PF (FD) account. This will be automatically transferred as soon as the job is changed. Let us tell you, the employee has to contribute 12 percent of the basic salary in the PF account and the same contribution is also made by the employer. Through this account, pension is given to an employee later on.

16.02 lakh members joined EPFO

According to EPFO payroll data, 16.02 lakh members joined EPFO in January 2024. This information was given by the Labor Ministry. During this period, about 8.08 lakh new members had registered themselves in EPFO. The ministry said the provisional payroll data of the Employees’ Provident Fund Organization (EPFO) indicates a net increase of 16.02 lakh members in January 2024.

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Small Saving Schemes Interest Rate: If you also invest in Small Saving Schemes run by the government, then this news is useful for you. The government announced on Thursday that there will be no change in the interest rates on various small savings schemes from the new financial year i.e. 1 April 2024.

In the notification issued by the Finance Ministry, it was said that the rates will remain the same for the first quarter of the new financial year starting from April 1, 2024 and ending on June 30, 2024.

Notification will come into effect after three days

The interest rates in the first quarter of the new financial year will remain the same as they were for the fourth quarter of the financial year 2023-24 (1 January 2024 to 31 March 2024). According to the notification issued by the Finance Ministry, an interest rate of 8.2 percent will be available on the amount deposited under Sukanya Samriddhi Scheme . It will remain the same as before. Apart from this, the interest rate on three-year FD will remain at 7.1 percent as before.

Investment will mature in 115 months.
Apart from this, the interest rates for PPF and Post Office Saving Scheme, favorite of crores of investors, will also remain the same as before at 7.1 percent and 4 percent respectively. The interest rate on Kisan Vikas Patra has also been maintained at 7.5 percent.

Investment in this government scheme will mature in 115 months. Apart from this, the interest rate on National Savings Certificate (NSC) for the April-June 2024 quarter will remain the same at 7.7 percent.

Like the current quarter, investors will get the benefit of 7.4 percent interest rate on Monthly Income Scheme. The interest rate on small savings schemes is notified by the government every quarter on the basis of review. These schemes are mainly operated by the post office.

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New Delhi. Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?

• Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.
• Rules for withdrawing full money from PF
• When the employee retires, the entire amount can be withdrawn at once.
• If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal

Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

For home loan repayment: Money can also be withdrawn from PF fund to repay home loan. For this it is necessary to have ten years of service. For this, employees can withdraw 36 times their basic and dearness allowance. Along with this, the total amount deposited in PF can also be withdrawn. Or the employee can withdraw an amount equal to the total outstanding principal and interest of the home loan.

If you are withdrawing money for home loan repayment, then this home loan should be in the name of the employee or both the husband and wife. The total amount in the employee’s account should be more than Rs 20 thousand. Along with this, the employee will have to submit home loan related documents to EPFO.

Home Renovation: Employees can also withdraw PF money for house renovation. For this, he can withdraw 12 times his basic and dearness allowance. Along with this, you can withdraw the total cost or the employee’s share and interest deposited in PF. This property should be in the name of the employee or in the name of both husband and wife. To get the money for this item, it is necessary that the house has been built for five years.

Partial withdrawal before retirement: If the employee has completed 58 years of age, then he can withdraw 90 percent of the total amount deposited in PF one year before retirement.

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This is the reason why despite having many investment options, a large section of people prefer to invest in it. At present 7.1 percent interest is being given on PPF. If you are also investing in this scheme and want to avail its benefits for more than 15 years, then you can get this scheme extended. But do you know how many times PPF extension can be done? If you have invested then you must know the answer to this-

Know how many times you can get extensions done

In case of PPF extension, the investor has two types of options – first, account extension with contribution and second, account extension without investment. If you want to get it extended while continuing the contribution, then you can get it done in a block of 5 years. With this, your account gets extended for 5 years at one go. You can get PPF extension done any number of times.

How will the extension be done with contribution?

After 15 years, if you want to continue the PPF account with contribution, then you will have to submit an application to the bank or post office where the account is maintained. You will have to give this application before completion of 1 year from the date of maturity and fill a form for extension. The form will be submitted in the same post office/bank branch where the PPF account has been opened. If you are not able to submit this form on time, you will not be able to contribute to your account.

How to get extension without contribution

If you do not want to make any investment in PPF account after 15 years, but want to take advantage of its interest, then you also get this option. For this it is not necessary for you to inform the bank or post office. If you do not withdraw the amount after maturity of 15 years, then this option comes into effect automatically.

Its advantage is that whatever amount is deposited in your PPF account, you get interest on it as per the calculation of PPF and tax exemption is also applicable. Apart from this, you can withdraw any amount of money from this account anytime. If you want, you can withdraw the entire money also. In this you get the facility of FD and saving account.

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Employees’ Provident Fund Organization (EPFO) was established to improve the retirement of private sector employees. To raise retirement fund for employees, every month the company and the employee deposit equal amount in PF (Provident Fund). The government also pays annual interest on this. At present the interest rate in PF is 8.15 percent.

As we told, this amount deposited in EPF is a retirement fund but it can be withdrawn if needed. The government has made some rules to withdraw funds for every need. If you are also planning to withdraw from PF, then today we will tell you how much money can be withdrawn from which item.

When and how much money can be withdrawn from PF?
Employees can withdraw full or partial withdrawal of funds from PF fund simultaneously. Some rules have been made for this.

Rules for withdrawing full money from PF
When the employee retires, the entire amount can be withdrawn at once.
If the employee is unemployed for a month or more, he can withdraw 75 percent of the PF amount. He can withdraw the remaining 25 percent amount in the next two months in case of unemployment.

Rules for partial fund withdrawal
Employees can use partial funds to meet their emergency needs. The government has made some rules regarding how much amount can be withdrawn for different needs.

For treatment: If you want to withdraw PF funds for medical emergency, then you can withdraw six times the basic salary or the total amount deposited and interest amount in the employee’s share in PF, whichever is less. Are. From this item, the employee can withdraw the amount for the treatment of himself, children, spouse and parents.

For marriage: If you are withdrawing money from PF for marriage, then it is necessary to have 7 years of service for this. The employee can withdraw money for the marriage of himself, his son or daughter, brother or sister. Talking about the amount, the employee can withdraw only 50 percent of his share of the total deposit.

For education: The account holder can withdraw only 50 percent of the employee’s share in PF for his or her children’s education. Along with this, it is mandatory for him to have 7 years of service.

For buying land and buying or building a house: If you are withdrawing PF money for building a house, then it is necessary to have five years of service for this. To buy land, an employee can withdraw up to 24 times his basic and dearness allowance from PF. At the same time, to buy a house, employees can withdraw 36 times the amount of basic and dearness allowance.

Along with this, there are some other conditions, in which the house or land should be in the name of the employee or in the joint name of the husband and wife. Money can be withdrawn only once during the entire service to purchase land or house. After the money is withdrawn, the construction of the house should start within 6 months and the construction should be completed within 12 months.

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Public Provident Fund (PPF) is a popular long term savings scheme in India. The interest rates for this are 7.1 percent from January-March 2024 and thereafter from April 1, 2024 to June 2024. The government has announced new interest rates for the next quarter. There has been no change in this. PPF was first introduced to the public in the year 1968 by the National Savings Institution of the Ministry of Finance. Since then it has emerged as a powerful tool for investors to create long-term assets.

Investors can open a PPF account in any bank or nearest post office. However one needs to deposit a minimum of ₹500 per year in one’s PPF account. You can set a maximum of ₹ 1.5 lakh in a PPF account. PPF account takes 15 years to mature.

It will be difficult to earn crores with less investment but personal finance experts say that PPF can do this with the power of compounding. Investors can increase their PPF account multiple times in a block of 5 years. A PPF account holder investing ₹1.50 lakh every year in his PPF account can also divide the monthly payment into installments of Rs 8333.3, then after 25 years of investment, one’s PPF maturity amount will be ₹1.03, It will be around 08,015 or so.

PPF account comes under EEE category where a person can claim income tax benefit under Section 80C on his annual deposit up to Rs 1.5 lakh. PPF is popular because it is one of the safest investment products.

That means the Government of India guarantees your investment in the fund. The interest rate is set by the government every quarter. PPF is better than many other investment options because your investment is tax free under Section 80C of the Income Tax Act (ITA) and the returns from PPF are also not taxed.

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Employees Provident Fund Organization (EPFO) is a scheme to improve the economic future of private sector employees. In this retirement plan, both the company and the employee contribute equal amount to the PF (Provident Fund). At the same time, it gives annual interest on the deposited amount.

Since this amount is for retirement, it can be withdrawn only after retirement. But, sometimes PF money is needed in emergencies. There are some rules for withdrawing money from PF, only by following which you can withdraw money from your account. Let us know about those rules in detail.

When can you withdraw PF money?

Employees Provident Fund Organization allows withdrawal of money from PF account before retirement only under certain circumstances. Such as medical emergency, marriage or buying land. If someone loses his job, he can withdraw the entire PF amount after two months.

There is a rule to withdraw money from PF even for the marriage of a particular family member or for the education of children. However, for this you must have been working for at least seven years. After this you can withdraw up to 50 percent of your contribution.

How many times can I withdraw money?

You can withdraw money from PF account many times before retirement. But, every time you will have to give the reason. Money cannot be withdrawn more than three times for marriage. The same is the condition for studies after 10th.

Money can be withdrawn only once to buy a house or land. However, there is no such restriction in medical emergency. For this, you can withdraw money any number of times before retirement.

How much tax is charged on withdrawal of funds?

If you withdraw EPF before 5 years of continuous service, TDS will be deducted at the rate of 10 percent. If you do not provide PAN card while withdrawing the amount, then the TDS rate will be 30 percent. But, no tax has to be paid after 5 years of continuous service. Even if an employee transfers his EPF amount to the National Pension Scheme, no tax is levied.

How to withdraw PF money online?

To withdraw money from EPF online, your UAN should be active and linked to KYC (Aadhaar, PAN and bank account). Then you have to follow the steps given below.

• -Log in to the UAN Member Portal with your UAN and password.
• -Click on ‘Online Services’ tab from the top menu bar. Select ‘Claim (Form-31, 19 & 10C)’ from the drop-down menu.
• -Your details will appear on the screen. Enter the last 4 digits of your bank account and click on ‘Verify’.
• -Click on ‘Yes’ to sign the Undertaking Certificate and proceed.
• -Click on ‘Proceed for Online Claim’ option.
• -Select ‘PF Advance (Form 31)’ to withdraw your funds online.
• -A new section of the form will open. In this you will have to select ‘Purpose for which advance is required’, the required amount and the address of the employee. The work for which employees cannot withdraw money will be mentioned in red colour.
• -Tick verification and submit your application
• -Depending on the work for which you have filled the form, you may have to submit scanned documents.
• -Money will be withdrawn from your EPF account only when your company accepts your withdrawal request.
• Then the amount will be deposited in your bank account mentioned in the withdrawal form.

An SMS will be sent to your phone number registered with EPFO. After the claim is processed, the amount will be transferred to your bank account. EPFO has not set any deadline for this, but usually the money is deposited within 15-20 days.

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Employees’ Provident Fund Organization (EPFO) has approved increasing the interest on PF. After this, now more than 7 crore people are going to get the benefit of increased interest rates. EPFO has approved interest of 8.25 percent for PF account holders. Now crores of PF account holders are waiting for the interest money to be credited to their PF account.

Earlier I was getting this much interest-

EPFO’s Central Board of Trustees meeting was held on 10 February. After the meeting, an official statement said that CBT has approved the interest rate on PF at the rate of 8.25 percent for the financial year 2023-24.

Earlier, PF account holders were getting interest at the rate of 8.15 percent in the financial year 2022-23 and 8.10 percent in 2021-22. In this way, now the interest on PF has increased to the highest in 3 years.

Record money is going to be received this time-

It was told in the statement that EPFO has earned more this time, hence it has been decided to give the benefit of higher interest to PF account holders. This time EPFO is going to distribute a total of Rs 1.07 lakh crore as interest. This will be the first time that EPFO is going to distribute more than Rs 1 lakh crore to the subscribers.

This is how EPFO earns-

EPFO manages the Social Security Fund PF. PF is the biggest social security for people working in the private sector. Currently it has more than 7 crore subscribers across the country. EPFO currently has funds deposited with about Rs 13 lakh crore.

EPFO earns this fund by investing it in various places including the stock market and the money earned is returned to the subscribers in the form of interest. Interest money is credited to the subscribers’ accounts twice a year by EPFO.

Now we will have to wait a little-

After getting approval from the Central Board of Trustees of EPFO, now PF account holders are waiting for the interest money to be credited. After the approval of CBT, the decision taken on the interest rate awaits the approval of the Finance Ministry.

After getting the final approval from the Finance Ministry, the interest rates are notified in the gadget, after which the interest money is sent to the account. This means that people will have to wait a little longer for the interest money.

You can check balance in these ways-

Subscribers are informed about this through message alerts. PF account holders can also check their balance and get information about PF interest amount. For this, PF account holders get many options.

Account details can be checked by logging in directly to the EPFO website. The facility to check balance is also available through Umang App. Apart from these, balance can also be checked through missed call and message.

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How to change nominee in PF account

step1
For this, first of all you have to go to the official website of EPFO.
After this you have to go to the service call and click on the employees option in this section.
After this you have to go to the Manage section and enter your UAN number. After this you have to login by entering your password and then click on e-enrolment under management.

Step 2
After this you have to click on Yes option to update your family declaration. Select the option to add family details and you can add one more nominee here.

Step 3
After this, click on the nomination details and click on the Save EPF Nomination option, after this select the e-sign option and then fill the OTP received on the mobile number linked to the Aadhar card and submit. Your nominee will be changed.

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New Delhi. There is a good news for the government and the people on the employment front. In fact, retirement fund body Employees Provident Fund Organization (EPFO) released the latest payroll data on Tuesday and said that it added 15.62 lakh net members in December 2023. According to the Labor Ministry, an increase of 11.97 percent has been recorded in the number of members during December 2023 as compared to the previous month.

According to the provisional payroll data of the Employees’ Provident Fund Organisation, the retirement fund body added a net 15.62 lakh members in December. This is an increase of 4.62 percent compared to December 2022. Data shows that about 8.41 lakh new members were enrolled during the month of December.

12.02 lakh people who went out joined back

Of the total new members added during this period, the share of 18-25 age group is 57.18 percent. This shows that most of the members joining the work force in the organized sector of the country are youth. According to the data, about 12.02 lakh members who had gone out of EPFO schemes in the month of December have returned.

Out of 8.41 lakh new members, about 2.09 lakh are women members.

According to the statement, out of the 8.41 lakh new members added, about 2.09 lakh are women members, who have joined EPFO for the first time. This is an increase of 3.54 percent compared to November 2023.

Maximum members joined in Maharashtra, Gujarat, Tamil Nadu, Karnataka and Haryana.
State wise analysis shows that maximum members participated from Maharashtra, Gujarat, Tamil Nadu, Karnataka and Haryana.

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EPFO Higher Pension Scheme: Under the Employees Pension Scheme (EPS), a Higher Pension Scheme was launched to get more pension from EPFO at the time of retirement, under which the deadline for uploading wage details etc.

was December 31, 2023. Ministry of Labor & Employment said on Wednesday that this deadline has now been extended by five months. Employers have time till May 31, 2024 to upload the wage details of those employees who are applying for the scheme.

The deadline has been extended earlier also

Following the order of the Supreme Court on November 4, 2022, this scheme of Higher Pension was started on 26.02.2023, which was earlier only till 3.05.2023, however, in view of the demand of pensioners and members, Its deadline was pushed forward to 26.06.2023.

#EPFO extends five months time for Employers to upload wage details etc. regarding Pension on Higher Wages

🗓️Extension of time for the employers for uploading wage details online etc. is till 31st May, 2024

Read here: https://t.co/JQdImQvPLq@LabourMinistry

— PIB India (@PIB_India) January 3, 2024

Even after this it was extended for 15 more days i.e. till 11.07.2023. Till now, EPFO had received a total of 17.59 lakh applications from pensioners and members.

The deadline for uploading details was 31st December.

On behalf of employers and employers’ associations, EPFO was requested to give them additional time to upload the wage details of pensioners and members. Therefore, it was first pushed forward to September 30, 2023 and then to December 31, 2023.

Employers still have more than 3.6 lakh applications left to process. In view of this, EPFO has given extra time till May 31, 2024 to upload the wage details online.

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Interest Rate FY24: In the upcoming Central Board of Trustees (CBT) meeting of the Employees’ Provident Fund Organization (EPFO), a claim was being made to reduce the interest rate of PF. In the CBT meeting to be held on Saturday, a proposal was expected to reduce the interest rate to 8 percent for the financial year 2023-2024.

But the Central Board of Trustees (CBT) of EPFO headed by Labor and Employment Minister Bhupendra Yadav approved the increased interest rate of EPFO. In the last two financial years, interest of 8.15% in the financial year 2023 and 8.10% in 2022 was given by EPFO.

6.5 crore subscribers will be affected

EPFO is also planning to seek approval from the Board to increase investment in stocks from the current 10% to 15% to improve the returns on investment. At present, the increase in interest rates is sure to have a direct impact on 6.5 crore EPFO subscribers. After considering the proposal to change the interest rate on PF, a notification will be issued by the Finance Ministry.

Pension, budgetary estimates and compliance issues were included in the 235th meeting of CBT. The Finance Ministry has given permission to increase the stock market by 5-15%. But EPFO will have to take approval from the board to increase risk in equity. Let us tell you that in the last 10 years, the highest interest rate on PF was in 2015-16. Which at that time was 8.8 percent annually. If 8 percent is agreed upon today, then this interest rate will be the lowest in the last 10 years.

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Employees’ Provident Fund Organization (EPFO) has approved increasing the interest on PF. After this, now more than 7 crore people are going to get the benefit of increased interest rates. EPFO has approved interest of 8.25 percent for PF account holders. Now crores of PF account holders are waiting for the interest money to be credited to their PF account.

Earlier I was getting this much interest

A day earlier, on Saturday, February 10, a meeting of the Central Board of Trustees of EPFO was held. After the meeting, an official statement said that CBT has approved the interest rate on PF at the rate of 8.25 percent for the financial year 2023-24. Earlier, PF account holders were getting interest at the rate of 8.15 percent in the financial year 2022-23 and 8.10 percent in 2021-22. In this way, now the interest on PF has increased to the highest in 3 years.

Record money is going to be received this time

It was told in the statement that EPFO has earned more this time, hence it has been decided to give the benefit of higher interest to PF account holders. This time EPFO is going to distribute a total of Rs 1.07 lakh crore as interest. This will be the first time that EPFO is going to distribute more than Rs 1 lakh crore to the subscribers.

This is how EPFO earns

EPFO manages the Social Security Fund PF. PF is the biggest social security for people working in the private sector. Currently it has more than 7 crore subscribers across the country. EPFO currently has funds deposited with about Rs 13 lakh crore. EPFO earns money by investing this fund in various places including the stock market and the money earned is returned to the subscribers in the form of interest. Interest money is credited to the subscribers’ accounts twice a year by EPFO.

Now we will have to wait a little

After getting approval from the Central Board of Trustees of EPFO, now PF account holders are waiting for the interest money to be credited. After the approval of CBT, the decision taken on the interest rate awaits the approval of the Finance Ministry. After getting the final approval from the Finance Ministry, the interest rates are notified in the gadget, after which the interest money is sent to the account. This means that people will have to wait a little longer for the interest money.

You can check balance in these ways

Subscribers are informed about this through message alerts. PF account holders can also check their balance and get information about PF interest amount. For this, PF account holders get many options. Account details can be checked by directly logging into the EPFO website. The facility to check balance is also available through Umang App. Apart from these, balance can also be checked through missed call and message.

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Paytm Payment Bank Crisis: After the strict action taken by RBI against Paytm Payments Bank, the troubles of the Payments Bank are not showing any sign of abating. After the action of Reserve Bank, Paytm Payments Bank (PPB) also got a blow from EPFO.

Amidst the sinking ship of Payments Bank, Paytm CEO Vijay Shekhar Sharma is trying to save at least the base of Paytm users. For this, an attempt is being made by Paytm to switch to a third party. Paytm management has also had a meeting with NPCI regarding this.

Claim settlement put on hold

According to the update a day ago, EPFO has banned crediting and claim settlement in Paytm Payment Bank. On behalf of the Employees Provident Fund Organization (EPFO), it was said that deposit and credit transactions of customers’ EPF accounts in Paytm Payment Bank account will be stopped. After this news, people who have linked their EPF account with Paytm Payment Bank account are quite worried. Now it is important that you update your second bank account in EPFO as soon as possible.

No need to worry about changing account

Since the EPF account is linked to the bank account, you can easily withdraw your PF / EPF online through UAN. Now but if you want to change EPF account then there is no need to worry. If you also want to change your account number and its related information, then first of all you will have to login to the EPFO member portal. Let us know the complete process step by step-

Complete process of changing bank account

1.) First of all go to EPFO member portal https://unifiedportal-mem.epfindia.gov.in/memberinterface/.

2.) Enter your log-in ID and password on the home page.

3.) After reaching here, click on the Manage option.

4.) Now select ‘KYC’ option in the drop-down here.

5.) After selecting the document here, enter ‘Bank’.

6.) Enter the bank account number and its IFSC code.

7.) After this click on the save option given below.

8.) After saving the new banking details, KYC will show pending for approval.

9.) Now submit the document proof to your employer. When the documents submitted by your employer are verified, the pending KYC approval will be converted to ‘Digitally Approved KYC’.

10.) Once the employer approves your submitted documents, you will also receive a text message from EPFO for digital approval of KYC.

In this way you can also change the bank account from Asan in your EPF account. After making changes in it, you can easily withdraw money if needed. This change is necessary for such EPF members whose EPF was linked to Paytm Payments Bank.

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Employees Provident Fund Organization (EPFO) has finalized the new rate of interest on PF. PF account holders are going to get interest at the rate of 8.25 percent on their PF money for the financial year 2023-24.

Interest on PF has increased so much

News agency PTI has quoted sources as saying that for the financial year 2023-24, PF account holders are going to get higher returns on the money kept in the PF account. Earlier, PF account holders had received interest at the rate of 8.15 percent in the financial year 2022-23 and at the rate of 8.10 percent in 2021-22. This means that for 2023-24, PF account holders are going to get 0.10 percent more interest than the year before.

CBT meeting is being held today

However, the latest interest rate on PF has not been officially announced yet. The Central Board of Trustees of EPFO decides at what rate of interest PF account holders will get for the financial year 2023-24. An important meeting of EPFO’s CBT is being held today, in which a decision is expected to be taken regarding interest on PF. Official information about the interest rate on PF will be given later by the Labor Ministry.

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In fact, the Employees’ Provident Fund Organization can increase the coverage of its pension plan. This new scheme is proposed to be based on individual contribution, which ensures that every employee gets a minimum pension of Rs 3,000 per month after the age of 60 years.

This proposed scheme may be named as Universal Pension Scheme, which aims to address the various challenges of the existing Employees’ Pension Scheme (EPS), 1995. There is no coverage for employees earning more than Rs 15,000 per month, but a simple pension amount.

There will be provision for retirement pension, widow pension, children’s pension and disability pension in the new scheme. However, the minimum qualifying period of service for this pension benefit will be increased from 10 to 15 years. If a member dies before the age of 60, then pension will be given to the family under the Universal Pension Scheme.

To get 3 thousand pension every month, this amount will have to be deposited for a
minimum pension of Rs 3,000 every month, a total of Rs 5.4 lakh will need to be deposited. A committee set up by the Central Board of Trustees (CBT), the highest decision-making body of EPFO, said EPFO ​​members can also voluntarily opt for higher contribution and deposit a larger amount for higher pension. At present, EPF contribution is mandatory for workers earning up to Rs 15,000 per month in establishments having more than 20 workers. Every employee gives 12% of his basic salary in the EPF scheme.

EPS is mandatory for all those who contribute to EPF. 8.33% of the employer’s contribution is deposited in the pension scheme, subject to a ceiling of Rs 1,250 per month based on the salary ceiling of Rs 15,000 per month.

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The proposed increase of the salary limit to Rs 21,000 per month has been endorsed by a committee, the report said. The committee has said that the government may implement the increase from a later date after deliberation. In such a situation, if the increase is accepted by the Central Board of Trustees of EPFO, then lakhs of employees will get a big relief.

According to media report, once the proposal is implemented, an estimated 7.5 million additional workers will benefit from the scheme. At present, the central government pays about Rs 6,750 crore annually under the Employees’ Pension Scheme.

The report also said that any company with more than 20 employees must be registered with the EPFO ​​and the EPF scheme has been made mandatory for all employees earning less than Rs 15,000. Along with this, it has also been told that workers more than the limit of Rs 21,000 will be brought under the purview of retirement scheme and the benefit of other social security scheme will also be given.

Explain that under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, EPFO ​​provides social security benefits to the employees in the form of pension and insurance funds. As per the data, in January 2022, EPFO ​​added 1.52 million employees on a net basis, which is an increase of over 21 per cent as compared to 1.26 million in December 2021.

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The government has fixed the interest rate on the amount deposited in PF. PF account holders will get interest at the rate of 8.1 percent on their deposits. The month of October has started but the interest amount has not been deposited in the account of the people yet. The Finance Ministry has given great information on this matter.

Interest money not visible in the statement-

The Finance Ministry tweeted and said- ‘The amount of interest is being deposited in the account of all EPF customers. However, due to a software update going on in EPFO, the interest amount is not visible in the statement. The amount of interest is being paid in the account of all the customers. The software is being upgraded due to the changes in EPF tax rules. However, information has not been given by the ministry as to when the balance PF will start appearing in the account of the account holder.

How much will be the amount of interest-

The amount of interest will come in your PF account, it depends on the amount deposited in your account. The government pays interest at the rate of 8.1 percent on the amount deposited. Suppose one lakh rupees are deposited in your PF account, then at the rate of 8.1 percent, you will get Rs 8,100 as interest annually.

Where is your money invested?

EPFO invests the amount deposited in the PF account holder’s account at many places. A part of the earnings from this investment is given to the account holders in the form of interest. At present, EPFO ​​invests 85 per cent in debt options. These also include government securities and bonds.

Check PF account balance like this-

Go to EPFO ​​website. Select ‘For Employees’ from the dropdown of ‘Our Services’. After this click on Member Passbook. Now login with the help of UAN number and password.

Select the PF account and you will see the balance as soon as you open it. To check balance through SMS, send a message by typing ‘EPFOHO UAN ENG’ to 7738299899. You will get the balance information in the reply. Apart from these, PF balance can also be checked from Umang App.

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This time the interest is being paid by the government at the rate of 8.1%. However, this interest rate is the lowest in the last 40 years. Despite this, the employees have been waiting for the payment of PF for a long time. Meanwhile, EPFO ​​has given big information. If the account holders want their entire interest amount in the account, then they have to take special care of some things. Otherwise, they may have to face loss in the amount of interest.

In fact, lakhs of employees working in the private sector change their jobs every few months. After joining a new job, employees open new PF accounts in the new company from their old UAN. In such a situation, the money of the new company comes in the account and the amount stops coming in the old PF account. In such a situation, the employees may have to bear the loss of interest amount due to not getting the account done.

In such a situation, EPFO ​​has advised the employees to link all the accounts together. In doing so, interest can be paid on the amount collected in all the accounts. If the amount is more, the interest will also be higher.

PF account can be merged as soon as the UAN number is activated by the employees.

• To merge PF account, visit the official website of EPFO.
• Click on Services to login.
• Click on Apply 1 EPF Account
• a form will open
• Enter registered mobile number
• Enter the OTP number and the old PF account will be displayed as soon as you enter the OTP
• accept submit
• After sending the information, the account will be merged in a few days.

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Employees’ Provident Fund Organization (EPFO) has made almost all its services online. Now EPFO ​​subscriber does not have to cut the office affair and their work also gets done easily and quickly. With the availability of many types of facilities online, now it has become very easy to manage PF account.

Now even the PF account holder does not need to go anywhere to know how much money is in his PF account. He can do this work very easily sitting at home. EPFO is providing the facility to the subscriber to know the PF balance in 4 ways. The PF account holder can get the balance information by making a missed call from the registered mobile number or through SMS. Apart from this, with the help of online UMANG app and by logging on to the website of EPFO, one can know how much money is in his PF account.

To know the PF balance by missed call, the mobile number of the account holder should be registered with the EPFO ​​​​with the missed call. To get balance information through missed call, PF subscriber has to make a missed call on 011-22901406 from the registered mobile number. After some time, the account information will come on your mobile through SMS.

Get information by SMS To know PF balance through SMS, SMS to 7738299899 from the mobile number registered with EPFO. For this, EPFO ​​UAN LAN (language) has to be typed. Here LAN means language. If you need information in English, write ENG instead of LAN. For information in Hindi, write HIN instead of LAN. To get account information in Hindi, write EPFOHO UAN HIN and send it to number 7738299899. After sometime the PF balance message will come on your mobile.

Take the help of the website To see the PF balance online, you have to visit the EPF passbook portal. You will have to log on to this portal through UAN and password. After this click on Download / View Passbook. After doing this, the passbook will open in front of you in which you can see the balance.

You can also know the balance from
UMANG app, download UMANG app in your smartphone. Click on EPFO ​​in the app. In this, click on Employee Centric Services. After this, click on View Passbook and enter your UAN and password. OTP will come on the registered mobile number. After entering it at the designated place, you can check PF balance.

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Apart from securing the future, PF also gives you the benefit of free insurance of Rs 7 lakh. This insurance is available under the Employee Deposit Linked Scheme. If a PF account holder dies in an accident, then his family gets an assistance of Rs 7 lakh by EPFO.

Contribution goes to EDLI scheme every month-

The EDLI scheme of Employees’ Provident Fund Organization helps in giving social security to the people. This scheme works with the combination of EPF and EPS. Many PF account holders are not aware of this scheme. In such a situation, he is deprived of this benefit.

EDLI scheme was started by EPFO ​​in the year 1976. Under this scheme, in case of accidental death of the account holder, the nominee gets the salary of the last 12 months or the sum assured maximum of Rs 7 lakh. Explain that 8.33% of the total money deposited in the PF account is deposited in EPS, 3.67% in EPF and 0.5% in EDLI scheme. In such a situation, most people take advantage of EPF and EPS scheme, but very few people know about EDLI scheme.

The nominee gets the benefit-

EPFO keeps informing all its account holders from time to time to add or update the name of the nominee in their account. The biggest advantage of being a nominee in the account is that if an account holder dies, then his family does not face any problem in taking advantage of EPF, EPS and EDLI schemes.

\If the account holder dies due to any reason, then he gets all the money deposited in the account and the insurance money easily to the PF nominee. On the other hand, if the name of the nominee is not added in any account, then in such a situation you can claim the money only after showing the sign and succession certificate of all the legal heirs of the account holder.

Important things related to EDLI scheme-

Under the EDLI scheme, any account holder can get an insurance claim of a minimum of 2.5 lakhs and a maximum of Rs 7 lakhs.

To get a claim of up to Rs 2.5 lakh, the account holder should have worked for at least 12 consecutive months.

If an account holder has left the job, then his family will not get this insurance claim.

The company contributes 0.5% of the EDLI scheme.

To claim insurance, the nominee can make a claim at the EPFO ​​office or online on its official website.

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This time the interest is being paid by the government at the rate of 8.1%. However, this interest rate is the lowest in the last 40 years. Despite this, the employees have been waiting for the payment of PF for a long time. Meanwhile, EPFO ​​has given big information. If the account holders want their entire interest amount in the account, then they have to take special care of some things. Otherwise, they may have to face loss in the amount of interest.

In fact, lakhs of employees working in the private sector change their jobs every few months. After joining a new job, employees open new PF accounts in the new company from their old UAN. In such a situation, the money of the new company comes in the account and the amount stops coming in the old PF account. In such a situation, the employees may have to bear the loss of interest amount due to not getting the account done.

In such a situation, EPFO ​​has advised the employees to link all the accounts together. In doing so, interest can be paid on the amount collected in all the accounts. If the amount is more, the interest will also be higher.

PF account can be merged as soon as the UAN number is activated by the employees.

• To merge PF account, visit the official website of EPFO.
• Click on Services to login.
• Click on Apply 1 EPF Account
• a form will open
• Enter registered mobile number
• Enter the OTP number and the old PF account will be displayed as soon as you enter the OTP
• accept submit
• After sending the information, the account will be merged in a few days.

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Along with this, there is a total deduction of 12 percent from the salary of the employee under this deduction. The same amount is deposited in the employee’s EPF account by the employer company or organization. 3.67 percent of this deduction is deposited in your EPF account, while 8.33 percent of the deduction is deposited in the Employees’ Pension Scheme. The maximum amount that can be deposited in the EPS account every month is Rs 1,250.

when will you get pension

The first condition for getting pension is that you should be a member of EPFO. For this, it is mandatory for you to work for at least 10 years. After the death of the employee, the pension will be given to the family members. You must be 58 years old for pension. Although you can start withdrawing money from EPS at the age of 50, but that pension will be less. For this you have to fill Form 10D. Apart from this, you can also defer your pension for two years till the age of 60 years, after which you will continue to get pension at an additional rate of 4 percent every year.

Conditions for Pension

The benefit of pension can be available only to those people who have joined EPS i.e. Employees Pension Scheme 1995 on or before 16 November 1995. Apart from this, it is very important for the employee to contribute in the EPS account for at least 10 years. This contribution can be made on behalf of the employee under one employer or more than one employer. In which there is no two opinions.

How much contribution is deposited in EPS account

As per the rules, a part of the contribution made in the EPF account is deposited in the EPS account. This contribution is made according to the pay scale of Rs 6500 and Rs 15000 per month. If you have joined this scheme before 1st September 2014 then you will have to contribute according to the salary of Rs.6500 per month, whereas if you have joined this scheme after that then you will have to contribute on the salary of Rs.15000 per month.

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In fact, the Employees’ Provident Fund Organization can increase the coverage of its pension plan. This new scheme is proposed to be based on individual contribution, which ensures that every employee gets a minimum pension of Rs 3,000 per month after the age of 60 years.

This proposed scheme may be named as Universal Pension Scheme, which aims to address the various challenges of the existing Employees’ Pension Scheme (EPS), 1995. There is no coverage for employees earning more than Rs 15,000 per month, but a simple pension amount.

There will be provision for retirement pension, widow pension, children’s pension and disability pension in the new scheme. However, the minimum qualifying period of service for this pension benefit will be increased from 10 to 15 years. If a member dies before the age of 60, then pension will be given to the family under the Universal Pension Scheme.

To get 3 thousand pension every month, this amount will have to be deposited for a
minimum pension of Rs 3,000 every month, a total of Rs 5.4 lakh will need to be deposited. A committee set up by the Central Board of Trustees (CBT), the highest decision-making body of EPFO, said EPFO ​​members can also voluntarily opt for higher contribution and deposit a larger amount for higher pension. At present, EPF contribution is mandatory for workers earning up to Rs 15,000 per month in establishments having more than 20 workers. Every employee gives 12% of his basic salary in the EPF scheme.

EPS is mandatory for all those who contribute to EPF. 8.33% of the employer’s contribution is deposited in the pension scheme, subject to a ceiling of Rs 1,250 per month based on the salary ceiling of Rs 15,000 per month.

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Private sector employees can get relief soon. With a decision, the pension (EPS) of lakhs of employees contributing to the Employees’ Provident Fund (EPF) can increase by 300% in one stroke.

The Employees’ Provident Fund Organization (EPFO) has fixed the maximum salary of Rs 15,000 (basic pay) for the pension of the employees. Meaning, even if your salary is more than Rs 15,000 per month, but your pension will be calculated only on the maximum salary of Rs 15,000.

One decision and pension can increase manifold- (One decision and pension can increase manifold)

Hearing is going on in the Supreme Court to eliminate this salary-limit of EPFO. Employee Pension (Employee Pension Scheme) can also be calculated on the last pay i.e. higher pay bracket. With this decision, the employees will get many times more pension.

Let us tell you, to get the pension, it is necessary to contribute to the Employees’ Provident Fund (EPF) for 10 years. At the same time, on completion of 20 years of service, a weightage of 2 years is given. If the Supreme Court decides to remove the limit, then how much difference will it make, let’s understand…

How to increase your pension – (How to increase your pension)

According to the current system, if an employee is working from June 1, 2015 and wants to take pension after completing 14 years of service, then his pension will be calculated at Rs 15,000, irrespective of the number of years for which he is working. Are. 20 thousand Rs. Be in the basic salary bracket or Rs 30,000.

According to the old formula, on completion of 14 years, the employee will get a pension of about Rs 3000 from June 2, 2030. The formula for calculation of pension is- (Service Historyx15,000/70). But, if the Supreme Court decides in favor of the employees, then the pension of the same employee will increase.

Example number 1-(Example number 1)

Suppose the salary (Basic Salary + DA) of an employee is 20 thousand rupees. His pension will be Rs.4000 (20,000X14)/70 = Rs.4000 by calculating the pension formula. Similarly, higher the salary, higher will be the benefit of pension. There can be a jump of 300% in the pension of such people.

Example No.-2-(Example No.-2)

Suppose the job of an employee is 33 years. His last basic salary is 50 thousand rupees. Under the current system, pension was calculated on a maximum salary of Rs 15,000. Thus (formula: 33 years + 2 = 35/70×15,000) the pension would have been only Rs 7,500.

This is the maximum pension in the current system. But, after removing the pension limit, adding the pension according to the last salary, they will get a pension of 25000 thousand rupees. Means (33 years + 2 = 35/70×50,000 = Rs 25000).

Pension can increase up to 333%!-(Pension can increase up to 333%!)

Let us tell you that according to the rules of EPFO, if an employee contributes to the EPF continuously for 20 years or more, then two more years are added to his service. Thus 33 years of service was completed, but pension was calculated for 35 years. In such a situation, the salary of that employee can increase by 333 percent.

What is the whole matter-(What is The Whole Matter)

The Employees’ Pension Revision Scheme, 2014 was implemented by the Central Government from 1st September 2014 by issuing a notification. This was opposed by the private sector employees and in the year 2018 it was heard in the Kerala High Court. All these employees were covered by the facilities of the EPF and Miscellaneous Provisions Act, 1952. Employees protested against EPFO’s rules, saying it ensures them less pension.

Because even if the salary is more than 15 thousand, but the calculation of pension has been fixed at the maximum salary of 15 thousand rupees. However, before the amendment made by the central government on September 1, 2014, the amount was Rs 6,500. Considering the EPFO’s rules to be unfair, the Kerala High Court had ruled while accepting the writ of the employees. On this, the EPFO ​​filed an SLP in the Supreme Court, which was rejected by the Supreme Court.

Decision came in 2019

The Supreme Court decided to hear its decision again. A Division Bench of Justice Surendra Mohan and Justice AM Babu, while hearing the SLP of EPFO ​​on 1st April 2019, observed – Employees, who are contributing on the basis of their actual salary after furnishing joint option with their employers, as deemed fit It is necessary. Huh,

They are deprived of pension scheme benefits without justification. There is no justification for fixing the pension salary at Rs 15,000. The bench said that 15 thousand monthly i.e. 500 rupees per day. It is common knowledge that even a daily wage earner gets more salary than this. So limiting the maximum salary for pension to Rs 15000 thousand will deprive most of the employees of good pension in old age. As far as the impact on pension funds is concerned,

Re-Hearing 

In January 2021, the Supreme Court reconsidered its 2019 decision and decided to hear the matter. A petition was filed against the order of the Kerala High Court on behalf of the Ministry of Labor and EPFO. The EPFO ​​is of the view that with this order the pension may increase up to 50 times (EPS upper limit). On August 25, a bench of Justice UU Lalit and Justice Ajay Rastogi, while hearing the matter, decided to refer the matter to a larger three-member bench. The case is still pending.

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If you or someone in your family gets pension from Employees’ Provident Fund Organization (EPFO) every month, then this news is of their use. Yes, there is going to be a big change in the system of pension amount from EPFO. All pensioners will get the benefit of this.

Let us tell you that the Employees’ Provident Fund Organization (EPFO) will approve it after considering the proposal for setting up of Central Pension Distribution System in the meeting to be held on July 29 and 30. The proposal will be placed in the meeting to be held soon. With the establishment of this system, pension can be transferred in one go to the accounts of 73 lakh pensioners across the country.

At present, 138 regional offices of EPFO ​​transfer pension to the account of the beneficiaries of their area. With this, these pensioners get pension on different days and times. Sources said that in the meeting of the Central Board of Trustees (CBT), the apex decision-making body of the EPFO, to be held on July 29 and 30, a proposal for the formation of a central pension distribution system will be made. 73 lakh pensioners will get the pension together , the source said that after the establishment of this system, the distribution of pension will be done on the basis of the database of 138 regional offices.

With this, 73 lakh pensioners will be given pension simultaneously. The source also said that all the regional offices deal with the needs of the pensioners of their region differently. With this, pensioners are able to pay pension on different days.

In the 229th meeting of the CBT held on November 20, 2021, the trustees had approved the proposal for development of a centralized IT based system by C-DAC. The Labor Ministry had said in a statement after the meeting that after this the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and supply of services.

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The proposed increase of the salary limit to Rs 21,000 per month has been endorsed by a committee, the report said. The committee has said that the government may implement the increase from a later date after deliberation. In such a situation, if the increase is accepted by the Central Board of Trustees of EPFO, then lakhs of employees will get a big relief.

According to a media report , once the proposal is implemented, an estimated 7.5 million additional workers will benefit from the scheme. At present, the central government pays about Rs 6,750 crore annually under the Employees’ Pension Scheme.

The report also said that any company with more than 20 employees must be registered with the EPFO ​​and the EPF scheme has been made mandatory for all employees earning less than Rs 15,000. Along with this, it has also been told that workers more than the limit of Rs 21,000 will be brought under the purview of retirement scheme and the benefit of other social security scheme will also be given.

Explain that under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, EPFO ​​provides social security benefits to the employees in the form of pension and insurance funds. As per the data, in January 2022, EPFO ​​added 1.52 million employees on a net basis, which is an increase of over 21 per cent as compared to 1.26 million in December 2021.

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Due to this, in the last financial year also, the employees got the benefit of 8.5 percent interest. EPFO, which cuts PF, has not yet announced the date of transfer of interest, but this claim is being made in all media reports. According to the claims, the interest amount will be sent to the account by September 30.

Employees will get so many thousand rupees

EPFO, which deducts PF, will send money to the account of employees by 30 September. In such a situation, the question arises that how much money will come in the account of PF employees, for which you will need to read the entire article carefully. According to 8.1 percent interest, if Rs 7 lakh is deposited in your account, then an amount of Rs 56,000 will be added. You will get the amount. Earlier in the financial year 2019-20 also 8.5 percent interest amount was released, which benefited about 6 crore employees.

Know how to check

• First of all you have to go to epfindia.gov.in.
• Now you have to click on the option of Click Here to know your EPF Balance.
• Now you have to be redirected to the page of epfoservices.in/epfo/.
• Now you have to click on the option of Member Balance Information.
• Now enter your PF account number and registered mobile number here.
• Now select your state.
• After doing this, click on the link of the EPFO ​​website of your state.
  Now click on submit option.

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Interest money is expected to arrive in the account of PF employees by July 30, due to which a lot of enthusiasm is being seen among the people. The government has announced to give 8.1 percent interest money for the financial year 2020-21, which is believed to be the lowest in forty years.

Earlier, 8.5 percent interest was announced. EPFO, the PF deducting body, has not yet officially announced the interest, but this claim is being made in all the media reports.

so much money will come in the account

The Central Government has decided to send 8.1 percent interest to the account of PF employees. This will benefit more than 6 crore employees. Accordingly, if Rs 10 lakh is lying in your account, then interest of Rs 81,000 will be available.

Check amount like this

You can know how much money is in PF account from your mobile sitting at home. You have to send EPFO ​​UAN LAN to 7738299899 from the mobile number registered with EPFO. If you need information in English, you should type ENG instead of LAN. Thus HIN is written in Hindi and TIM in Tamil.

Check money with this app

Download UMANG App from Play Store on your Smartphone.

Log in to the app by registering your phone number.

Go to the Services directory in the top left corner menu.

Here click on EPFO ​​option. After going to View Passbook, check your UN number and balance through OTP. With this you can easily access your PF account.

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The Employees’ Provident Fund Organization (EPFO) has fixed the maximum salary of Rs 15,000 (basic pay) for the pension of the employees. Meaning, even if your salary is more than Rs 15,000 per month, but your pension will be calculated only on the maximum salary of Rs 15,000.

One decision and pension can increase manifold-

Hearing is going on in the Supreme Court to end this salary-limit of EPFO. Employee Pension (Employee Pension Scheme) can also be calculated on the last pay i.e. higher pay bracket. With this decision, the employees will get many times more pension.

Let us tell you, to get the pension, it is necessary to contribute to the Employees’ Provident Fund (EPF) for 10 years. At the same time, on completion of 20 years of service, a weightage of 2 years is given. If the Supreme Court decides to remove the limit, then how much difference will it make, let’s understand…

How to increase your pension

According to the current system, if an employee is working from 1st June 2015 and wants to take pension after completing 14 years of service, then his pension will be calculated as Rs.15 thousand only. regardless of how many years he has been working. 20 thousand Rs. Be in the basic salary bracket or Rs 30,000.

According to the old formula, on completion of 14 years, the employee will get a pension of about Rs 3000 from June 2, 2030. The formula for calculation of pension is- (Service Historyx15,000/70). But, if the Supreme Court decides in favor of the employees, then the pension of the same employee will increase.

Example number 1

Suppose the salary (Basic Salary + DA) of an employee is 20 thousand rupees. His pension will be Rs.4000 (20,000X14)/70 = Rs.4000 by calculating the pension formula. Similarly, higher the salary, higher will be the benefit of pension. There can be a jump of 300% in the pension of such people.

Example No.-2

Suppose the job of an employee is 33 years. His last basic salary is 50 thousand rupees. Under the current system, pension was calculated on a maximum salary of Rs 15,000. Thus (formula: 33 years + 2 = 35/70×15,000) the pension would have been only Rs 7,500.

This is the maximum pension in the current system. But, after removing the pension limit, adding the pension according to the last salary, they will get a pension of 25000 thousand rupees. Means (33 years + 2 = 35/70×50,000 = Rs 25000).

Pension can increase up to 333%

! and are joined. Thus 33 years of service was completed, but pension was calculated for 35 years. In such a situation, the salary of that employee can increase by 333 percent.

What is the whole matter

Employees Pension Revision Scheme, 2014 was implemented by the Central Government by issuing a notification from 1st September 2014. This was opposed by the private sector employees and in the year 2018 it was heard in the Kerala High Court. All these employees were covered by the facilities of the EPF and Miscellaneous Provisions Act, 1952. Employees protested against EPFO’s rules, saying it ensures them less pension.

Because even if the salary is more than 15 thousand, but the calculation of pension has been fixed at the maximum salary of 15 thousand rupees. However, before the amendment made by the central government on September 1, 2014, the amount was Rs 6,500. Considering the EPFO’s rules to be unfair, the Kerala High Court had ruled while accepting the writ of the employees. On this, the EPFO ​​filed an SLP in the Supreme Court, which was rejected by the Supreme Court.

Decision came in 2019 –

The Supreme Court decided to hear its decision again. A Division Bench of Justice Surendra Mohan and Justice AM Babu, while hearing the SLP of EPFO ​​on 1st April 2019, observed – Employees, who are contributing on the basis of their actual salary after furnishing joint option with their employers, as deemed fit It’s necessary. Huh,

They are deprived of pension scheme benefits without justification. There is no justification for fixing the pension salary at Rs 15,000. The bench said that 15 thousand monthly i.e. 500 rupees per day. It is common knowledge that even a daily wage earner gets more than this. So limiting the maximum salary for pension to Rs 15000 thousand will deprive most of the employees of good pension in old age. As far as the impact on pension funds is concerned,

Re-Hearing

In January 2021, the Supreme Court reconsidered its 2019 decision and decided to hear the matter. A petition was filed against the order of the Kerala High Court on behalf of the Ministry of Labor and EPFO. The EPFO ​​is of the view that with this order the pension may increase up to 50 times (EPS upper limit). On August 25, a bench of Justice UU Lalit and Justice Ajay Rastogi, while hearing the matter, decided to refer the matter to a larger three-member bench. The case is still pending.

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Money can be transferred to the account soon:

Most of the employees of the country have their own PF account in which they contribute every month. If your PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, the PF account of more than 6 crore employees is present across the country.

Who will get this benefit:

Employees’ Provident Fund Organization (EPFO) KK will transfer PF interest money to the employees’ account very soon. In such a situation, those employees whose PF account has Rs 5 lakh deposited, they can get 40 thousand rupees as interest. According to media reports, the interest amount will be transferred to the PF account soon.

Check PF account balance sitting at home:

• To check the balance of PF account, you have to visit the website epfindia.gov.in.
• Then click on the option ‘Click here to know your EPF balance’.
• After this, through the redirect link, you have to go to the page of epfoservices.in/epfo/.
• – There you have to click on the option of ‘member balance information’.
• Then the PF account number and registered mobile number have to be entered there.
• After this, after selecting your state, you have to click on the website link of your state’s EPFO ​​office.
• Finally, click on the option of ‘Submit’.
• After completing this process, you will be able to see your PF account balance on the screen.

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This contribution is 12-12 per cent of the basic salary plus dearness allowance. The interest rates of EPF are fixed every year by the government. At present, 8.1 percent annual interest (FY23) is there. EPF is such an account, in which gradually large corpus is formed till retirement.

Retirement Fund at ₹15,000 Basic Salary

Let’s say your basic salary and dearness allowance together is Rs 15,000. If you are 21 years old, then you can have a retirement fund (EPF Corpus) of Rs 1.26 crore by the time you retire through EPF i.e. by the age of 58. In this, the condition will be that the interest on EPF remains 8.1 percent till retirement and annual salary growth of 5 percent remains. Changes in this may result in change in retirement corpus. The maximum contribution that can be made in the EPF scheme is up to 58 years.

Check EPF Calculation

Basic Salary+DA= ₹15,000
Current Age= 21 Years
Retirement Age= 58 Years
Employee Monthly Contribution= 12%
Employer Monthly Contribution= 3.67 percent
Interest Rate on EPF= 8.10%
Annual Salary Growth= 5%
Maturity Fund at 58 Years = 1.26 crore (Employee contribution is Rs 23.26 lakh and Employer contribution is Rs 7.11 lakh. That is, some contribution is Rs 30.38 lakh.)

(Note: Annual interest rate is 8.1 per cent and salary growth is 5 per cent for the whole year of contribution.)

Employer’s entire 12% does not go towards EPF

12% of the basic salary and Dearness Allowance (Dearness Allowance) of the employee is deposited in the EPF account. But, the employer’s 12 percent amount is deposited in two parts. Out of 12 per cent contribution of the employer, 8.33 per cent is deposited in the Employee Pension Account and the remaining 3.67 per cent goes into the EPF account.

Understand contribution from ₹15,000 salary

Employee Basic Salary + Dearness Allowance = Employee Contribution in ₹15,000
EPF = 12% of ₹15,000 = Employer Contribution in ₹1800
EPF = 3.67% of ₹15,000 = ₹550.5
Employer’s Contribution to Pension Fund (EPS) 8. 33 ₹ 15,000 Contribution %= ₹1249.5

In this way, the total monthly contribution in the EPF account of an employee with a basic salary of Rs 15,000 in the first year will be Rs 2350 (Rs 1800 + 550). After this, the basic and dearness allowance will increase in the same proportion with a 5% increase in the salary on an annual basis. With which the EPF contribution will increase. It is mandatory for the employees whose basic salary is less than Rs 15,000, it is mandatory to join this scheme.

(Note: This figure for Retirement Fund through EPF Contribution has been taken on fixed interest rate, salary growth and employee and company contribution. This is only an estimate. The corpus may vary due to change in figures.)

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Account can be opened with Rs 500

If you want to open a PPF account, then for this you have to go to the bank or post office. This is a government savings scheme, so the interest rate is decided by the government. PPF account can be started with only Rs 500. In PPF account, you have to deposit at least Rs 500 every year. It is not necessary that you submit it in one go. You can also deposit it little by little, as per your convenience.

Have to invest at least Rs 500 every year

Investing in PPF account earns 7.1 percent interest annually. Its maturity period is 15 years. If you do not deposit Rs 500 in a year, then your account is put in the category of default account. To make it active again, the remaining amount has to be deposited along with a penalty of Rs 50.

You can invest even after 15 years

On completion of 15 years of PPF account, you get back the entire money, including deposits and interest. But, if you do not need the money at that time, then you can carry it forward for the next 5 years also. You can continue this work even while depositing money further and, even after stopping depositing money, you can continue the account. After that again you can get it extended for another 5 years.

Will get back up to Rs 40 lakh

The PPF account gets maturity on completion of 15 years. At this time you get up to 40 lakh rupees. Let us tell you how much return you will get on investment of Rs. 

• On depositing 1000 rupees a month – 3 lakh 15 thousand 572 rupees will be available
• On depositing Rs 2000- Rs 6 lakh 31 thousand 135 will be available
• On depositing Rs 3000 – Rs 9 lakh 46 thousand 704 will be available

• On depositing Rs 4000- Rs 12 lakh 72 thousand 273 will be available
• On depositing Rs 5000 – Rs 15 lakh 77 thousand 841 will be available
• On depositing Rs 10000- 31 lakh 55 thousand 680 will be available
• On depositing Rs 12000 – Rs 37 lakh 86 thousand 820 will be available

• On depositing Rs 12250 – Rs 39 lakh 44 thousand 699 will be available

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Now the government has also approved keeping the interest rate on EPF at 8.1 percent for 2021-22. In 1977-78, the EPFO ​​had given an interest of 8 per cent. Since then it has been 8.25 per cent or more. The two-day meeting of EPFO ​​started on Friday, March 11, which ended on March 12, in which it was decided to reduce the interest rate of EPF.

The EPFO ​​had fixed 8.5 percent interest in the financial year 2020-21 and in the previous financial year. Earlier in 2018-19, 8.65 percent interest was given on EPFO. EPFO had paid 8.65 per cent interest in 2016-17 and 2017-18 also. At the same time, the interest rate was 8.8 percent in 2015-16, 8.75 percent in 2013-14 and 2014-15 also.

After getting approval from the government, EPFO ​​will now start adding interest amount to the EPF accounts of the employees. According to the EPFO ​​office order issued on Friday, the Ministry of Labor and Employment has informed about the approval of 8.1 percent interest to EPFO ​​subscribers for 2021-22. The Labor Ministry had sent this proposal to the Finance Ministry for approval.

Trustee KE Raghunathan, who represents the employees in the CBT, said the speed with which the labor and finance ministries have approved the rate of interest, given the need for funds to the employees, is indeed commendable. This will help them to meet the education and other needs of their children.

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This is the lowest interest rate in the last 40 years. Earlier in 1977-78, EPFO ​​had given 8 per cent interest and thereafter it was 8.25 per cent or more.

12 per cent deduction on the salary of an employee is made for the EPF account. If we talk about the employer, 8.33 percent of the deduction made by him goes to EPS (Employees Pension Scheme), while the remaining 3.67 percent goes to EPF.

If your basic salary is 25 thousand rupees, then the total contribution of both the company and the employee in the EPF every month will be around Rs 3918. At the same time, you will get Rs 2082 every month in the EPS account.

Lowest interest rate in 40 years

EPFO has announced an interest of 8.1 percent for the financial year 2022. Finance Minister Nirmala Sitharaman had defended the cut in the interest rate on PF, saying that the EPFO ​​has a central board which decides what rate is to be given to them.

He hasn’t changed it for a while. But now they have reduced it from 8.4 per cent to 8.1 per cent. In the financial year 2019-2020, 8.5% interest was given. Interest was also received at the rate of 8.5% in 2020-2021, while 8.65% in the financial year 2018-19, 8.55% in 2017-18, 8.65% in 2016-17 and 8.8% in the financial year 2015-16. was.

check balance online

You do not need to go anywhere to know your PF account balance. You can check your balance sitting at home. For this, you can know your balance by visiting the official website of EPFO, epfindia.gov.in.

After visiting this site, click on e-passbook. After clicking on it, you will have to fill your UAN number, password and captcha. By doing this, you will see the information related to the PF account. Here you will see the member ID. If you select it, then you will start seeing your PF balance on the E-Passbook.

missed call and sms

You have to make a missed call on 011-22901406 from the number linked to your PF account. Immediately after making a missed call, you will receive a message on your register number, in which PF balance information will be given. You can check PF account balance through SMS.

For this your UAN number should be registered with EPFO. First of all send EPFOHO UAN and SMS to 7738299899 from the registered mobile number. You will have to select the option for the balance information in the language in which it is available. For example, for Hindi, you will have to message by writing EPFOHO UAN HIN.

Check balance through app

For this, first you have to download the UMANG app. After that register your phone number and login to the app.

Go to ‘Service Directory’ by going to the menu given in the top left corner. Here search for EPFO ​​option and click on it. After going to View Passbook here, check the balance through your UAN number and OTP.

The post Good news for 7 crore PF account holders ! Lakhs of rupees will come in the account of PF account holders, check details Quickly first appeared on Rightsofemployees.com.

Big decision can be taken after 5 days

In this episode, the interest rates on these schemes can be increased by the Finance Ministry in the month of September this year. It is being told that interest rates can increase from 0.50 to 0.75 percent.

It is to be known that even after the decision of increasing the repo rate twice earlier, RBI did not make any change in the interest rates in the month of June. Now after reviewing the interest rates in the third quarter of this financial year, the interest rates of savings schemes can be changed. It is expected that this decision can be taken on 30 September 2022.

FD interest rises after repo rate hike

After the increase in the repo rate by the Reserve Bank of India, banks have increased the interest on deposits. After which it is now being said that the interest on government savings schemes can also be increased. Currently, 7.1% annual interest rate is being given on PPF. At the same time, the interest rate available on NSC is 6.8 percent. On the other hand, if we talk about Sukanya Samriddhi Yojana, at present 7.6 percent interest rate is being given on it, which is likely to increase further.

The post PPF Interest Rate Increased! Good News: Now interest rates are going to increase in PPF, know here complete details first appeared on Rightsofemployees.com.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

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In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

The post EPFO Rules: EPF account holder gets an additional bonus of Rs 50,000, check all details first appeared on Rightsofemployees.com.

There is great news for more than 73 lakh pensioners of the country. More than 73 lakh pensioners of Employees’ Provident Fund Organization (EPFO) will now be able to get pension together. For this, the government is preparing to set up a central pension distribution system. The EPFO ​​meeting is going to be held on July 29 and 30 in this regard. According to the information, this proposal can get green signal in this meeting.

In fact, at present, 138 regional offices of EPFO ​​in the country send pension to the accounts of pensioners of their area. Due to which pensioners get the pension amount in their account at different days and times. If this system continues to be approved, then pension amount can be sent in one go to the accounts of more than 73 lakh pensioners across the country.

Let us tell you that in the 229th meeting of CBT held on 20th November, 2021, the trustees had approved the proposal for development of centralized IT based system by C-DAC. The Labor Ministry had said after the meeting that thereafter the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and delivery of services.

With the implementation of the centralized system, EPFO ​​subscribers will get many benefits. With this there will be no duplication, as well as multiple PF accounts of a member will become a single account after merger. If someone changes jobs then the hassle of transferring PF account will also end.

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The central government can soon transfer the interest money on the PF account of central employees. According to media reports, the interest money on the PF account can come till August 30. However, no official information has been shared by the EPFO ​​(Employees’ Provident Fund Organization) regarding this. At the same time, last year, the government transferred the interest money on PF at the end of the year.

Let us tell you that more than 6 crore people will get benefit from getting interest on PF. The central government has already announced 8.1 percent interest for PF employees. This is the lowest interest on PF in 40 years. This time the interest is 0.4 percent less than last year (8.5 percent). This rate is at such a low level for the first time since 1977-78.

This time employees are getting interest at the rate of 8.1%. The central government is going to transfer the money of PF interest in the account of the account holders in the financial year 2022.

So much interest can come.
Suppose if you have 10 lakh rupees in your account, then you will get 81,000 rupees as interest. At the same time, if you have Rs 7 lakh in your PF account, then you will get Rs 56,700 as interest. If you have Rs 5 lakh in your PF account, you will get Rs 40,500 as interest. Similarly, if you have Rs 1 lakh in your account, you will get Rs 8,100 as PF interest.

How to check PF balance
You can follow 4 ways to check your PF balance. Or you can choose any one of the four methods. In these ways, you can check the balance through SMS and you can also know by giving a missed call. Apart from this, you can also check through EPFO’s website, and UMANG app.

The post Great News ! Government can transfer interest money in PF account of employees this month! first appeared on Rightsofemployees.com.

Employees’ Provident Fund Organization ie EPFO ​​account holders (EPFO Subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the minimum pension (EPFO Pension) can be increased three times. It has been said in the report that a meeting of the Central Board of Trustees of EPFO ​​is going to be held next month. The three-fold increase in the minimum pension is expected to be discussed in this meeting . The minimum pension can be increased from the present Rs 1,000 to Rs 3,000.

According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

The post Good News for EPFO ​​Subscribers! Minimum pension may increase three times soon first appeared on Rightsofemployees.com.

When an Employees’ Provident Fund (EPF) subscriber retires, he/she is allotted a Pension Payment Order (PPO) , which will be sent to every pensioner covered by the Employees’ Pension Scheme (EPS) . Given is a 12 digit number.

Pensioners can check their pension status on the EPFO ​​portal. The 12 digit PPO number is a unique number for each pensioner/family pensioner and acts as a reference number for any communication. If you do not know about your PPO number, then follow the steps given below.

How to know your PPO number

1. Log on to www.epfindia.gov.in
2. Under Online Services, click on Pensioner Portal
3. You will be redirected to ‘Pensioners Welcome Portal’.
4. Click on ‘Know your PPO number’ which is mentioned on the right side of the page
5. Enter your bank account number or PF number.

Once the required data is entered, you will be given your PPO number, member ID and pension type.

how to check pension status

• Log on to www.epfindia.gov.in
• Under Online Services, click on Pensioner Portal
• You will be redirected to ‘Pensioners Welcome Portal’. ,
• Click on ‘Know Your Pension Status’ which is mentioned on the right side of the page
• Select Office, Office ID, PPO Number and enter your
• Click on ‘Get Status’ to get pension status.

Verification of PPO

Please check the pensionary awards included in your PPO to ensure that the same is correct and as per the extant rules. According to the pensioners portal, “In case of any correction required in the PPO, please contact your Head of Office/Pension Disbursing Agency for necessary action in this regard.”

What is the system of allotment of 12 digit PPO numbers?

According to the Central Pension Accounts Office (CPAO), “The following system is followed for allotment of 12 digit PPO numbers. In each PPO, the first five digits indicate the code number of the PPO issuing authority, the next two digits indicate the year of issue, and the following four digits indicate the sequential number of the PPO while the last digit indicates the purpose. There is a check digit for the computer.

The post Pension Status: Here’s how to check pension status on EPFO ​​portal – Step-by-Step complete process first appeared on Rightsofemployees.com.

Money will come in the account soon

Most of the employees across the country contribute to the PF account. If PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, more than 6 crore employees contribute to the PF account across the country.

Only these employees will get benefits

Employees’ Provident Fund Organization (EPFO) is going to transfer PF interest money to the employees’ account very soon. Such employees who have 5 lakh rupees deposited in their PF account, they will get 40 thousand rupees as interest. It is being claimed in many media reports that the interest amount can be transferred to the PF account soon.

You can check PF account balance sitting at home

• To check your PF account balance, first you have to go to epfindia.gov.in.
• After this you have to click on the option of ‘Click here to know your EPF balance’.
• After this you have to go to the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘member balance information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the website link of the EPFO ​​office of your state.
• After that you have to click on the option of ‘Submit’.
• As soon as this whole process is completed, your PF account balance will be displayed on the screen.

The post EPFO Employees Good News : Employees are going to get good news soon, Rs 40,000 will be transferred to the account! first appeared on Rightsofemployees.com.

Let us tell you that pensioners going to get pension from Provident Fund Organization (EPFO) are going to prove to be very beneficial. Actually, there has been a big change from EPFO ​​regarding the arrangement of pension amount. Its benefits are going to be available to all pensioners.

According to the information, about 73 lakh pensioners of the country are going to get its benefit. For this, the government is preparing to set up a central pension distribution system. Talking about this regard, the meeting of EPFO ​​will start on 29 and 30 July. According to the information received, approval for this proposal will start in this meeting.

If seen at this time, if we talk about the 138 regional offices of EPFO, then pension is going to be sent to the accounts of pensioners. Due to which the pensioners are seen, the work is being done to give the amount in their account on different days and times. If this system is approved easily, then the work of sending pension to the accounts of more pensioners with 73 lakh people across the country will be done in one go.

EPFO customers are going to get the benefit

According to the information, after the implementation of the centralized system, EPFO ​​subscribers are going to get a lot of benefits. There is no duplication due to this, along with this, after the merger, the work of converting multiple PFs of one member into one account will be done. If any person has become eager to change jobs, then he starts getting rid of transferring his PF account.

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The government has announced to give 8.1 percent interest for the financial year 2020-21, which is the lowest in the history of the last forty years. Earlier 8.5 percent interest was given. The EPFO, which cuts the PF, has not yet officially announced the date of depositing the interest money, but according to the information received from the sources, this claim is being made till August 30.

Soon so many thousand rupees will come

After the order of Modi Government, EPFO ​​is now going to give 8.1 percent interest in the account of PF employees. According to the government, if 7 lakh rupees are lying in your account, then about 56 thousand rupees will be given as interest.

Know how to check your name

• To check your PF account balance, first you have to visit epfindia.gov.in.
• After this you have to click on the option ‘Click Here to Know your EPF Balance’.
• After this you have to visit the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘Member Balance Information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the EPFO ​​office website link of your state.
• After that you have to click on the option of ‘Submit’.

The post EPFO Date Confirm: Good news to PF employees, huge amount will come in the account on this date, know details immediately first appeared on Rightsofemployees.com.

Then dearness allowance will increase!

Actually, the increase in DA depends on the data of AICPI. Earlier, the increase in DA of employees was also fixed by the data of AICPI index for the month of May. From the data of the rapidly growing AICPI index after February, it was expected that the AICPI index of June would be higher than that of May. After April, there has been a big jump in the number of AICPI index of May. In May, it had gained 1.3 points and it had increased to 129 points. The June figure has reached 129.2. Now it is expected that this time the increase in DA will be at least 4 percent.

It is worth noting that the matter of pending arrears (DR) for 18 months has now reached Prime Minister Narendra Modi, on which a decision can be taken soon. In such a situation, the central employees have full hope from the central government that soon they will get dearness allowance. Let us tell you that the Finance Ministry had stopped the DA hike in May 2020 till 30 June 2021 due to the Kovid-19 epidemic. This can be discussed in the meeting to be held on August 3.

The money of PF interest will also be available, the good news of interest can be found in the account of more than 7 crore account holders of Employees’ Provident Fund Organization (EPFO). It is worth noting that this month, interest money can be transferred to the bank account of PF account holders, because according to the information received so far, the PF has been calculated. It is being told that this time according to 8.1%, this time the interest of PF will come in the account.

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If you or someone in your family gets pension from Employees’ Provident Fund Organization (EPFO) every month, then this news is of their use. Yes, there is going to be a big change in the system of pension amount from EPFO. All pensioners will get the benefit of this.

Let us tell you that the Employees’ Provident Fund Organization (EPFO) will approve it after considering the proposal for setting up of Central Pension Distribution System in the meeting to be held on July 29 and 30. The proposal will be placed in the meeting to be held soon. With the establishment of this system, pension can be transferred in one go to the accounts of 73 lakh pensioners across the country.

At present, 138 regional offices of EPFO ​​transfer pension to the account of the beneficiaries of their area. With this, these pensioners get pension on different days and times. Sources said that in the meeting of the Central Board of Trustees (CBT), the apex decision-making body of the EPFO, to be held on July 29 and 30, a proposal for the formation of a central pension distribution system will be made. 73 lakh pensioners will get the pension together , the source said that after the establishment of this system, the distribution of pension will be done on the basis of the database of 138 regional offices.

With this, 73 lakh pensioners will be given pension simultaneously. The source also said that all the regional offices deal with the needs of the pensioners of their region differently. With this, pensioners are able to pay pension on different days.

In the 229th meeting of the CBT held on November 20, 2021, the trustees had approved the proposal for development of a centralized IT based system by C-DAC. The Labor Ministry had said in a statement after the meeting that after this the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and supply of services.

The post EPFO Pension Rules Change: There is going to be a big change in the rules of EPFO pension, check the new rules immediately first appeared on Rightsofemployees.com.

The government has announced to give 8.1 percent interest for this financial year 2020-21, which is the lowest in the last forty years. Earlier in the financial year, it was announced by paying 8.5 percent interest. The EPFO, which cuts the PF, has not officially announced the date of transfer of interest, but the news of all the media is being claimed till August 30.

Know how many thousand rupees will come in the account

After the order of Modi Government, EPFO ​​is now going to add 8.1 percent interest in the account of PF employees. According to the order of the government, if 9 lakh rupees are lying in your account, then about 72 thousand rupees will be given as interest. There is a lot of enthusiasm among the employees regarding this. The government puts PF money in the account of PF employees every year.

Just check your amount

• To check your PF account balance, first you have to visit epfindia.gov.in.
• After this you have to click on the option ‘Click Here to Know your EPF Balance’.
• After this you have to visit the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘Member Balance Information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the EPFO ​​office website link of your state.
• After that you have to click on the option of ‘Submit’.

The post EPFO Customers Good News: 72,000 rupees will come in the account on this date, know how to check first appeared on Rightsofemployees.com.

If you do not file e-nomination then you will not be able to avail many online facilities of EPFO ​​including PF balance. The EPFO ​​had told that if an EPF member wants to change the existing nomination in EPF / EPS, then he can file a new nomination. As soon as a new nomination is filed, the old nomination will stand cancelled.

Nominee can be more than one member

In the e-nomination process, an employee can nominate more than one member of his family. If the employee dies in future by not doing e-nomination, then his money deposited in the PF account will get stuck. Then, his family members will find it difficult to withdraw this money.

If you want to do e-nomination then you need to have UAN and password. If you have both these things then you have to update your profile photo. If you want to make a nomination without your profile picture, then you will see this message ‘Enable to process’. So you first update your profile photo.

Know how to do e-nomination in EPFO

Step 1: First of all you have to go to epfindia.gov.in. Then login with the help of your UAN and password.

Step 2: Go to the ‘Services Tab’. Click on the ‘For Employees’ tab from the drop-down menu.

Step 3: Select ‘e-Nomination’ from the ‘Manage’ tab. Then enter your permanent and temporary address.

Step 4: Select ‘Yes’ to change the family declaration.

Step 5: Enter nominee details. You will also have to enter the photo of the nominee. Then click ‘Save’.

Step 6: Click on ‘Proceed’.

Step 7: Enter your Aadhaar number. Then OTP will come on your registered mobile number. After entering the OTP, the process of e-signing will be completed.

The post EPFO e-nomination Alert ! If you deposit money in PF, then know how you can do e-nomination of EPFO, otherwise money will get stuck first appeared on Rightsofemployees.com.

In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

The post EPFO New Rules: EPFO Rules: EPF account holder gets an additional bonus of Rs 50,000, check all details immediately first appeared on Rightsofemployees.com.

The post PF Amount Credited: 81,000 rupees will be credited in the account of PF employees on this day, know here immediately first appeared on Rightsofemployees.com.

For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but not more than 3 times. We all know that while in job, Advance PF can be withdrawn . But do we know when and how many times we can withdraw. Provident Fund ( PF ) is our future deposits, which by law should be kept in reserve for retirement only.

But what to do when a difficult situation comes on the forehead. For the same time, the rule of advance withdrawal or advance withdrawal of PF has been made. Employees Provident Fund Organization ( EPFO ) helps you in this. All you have to do is to tell the reason for withdrawing money. Only then does the withdrawal process begin. If the job is lost and there is no money in hand, then this can also be a reason for PF withdrawal.

Apart from this, you can withdraw money in advance for marriage, higher education, building a house to live in, purchase of land to build a house, etc. Now it comes to how much money you can withdraw and how many times you can withdraw money.

If you open your PF account on the website of EPFO, then both the company’s money and your deposited money are visible there. That is, the company and your share appear together in the passbook.

EPFO rules

The rules of EPFO ​​clearly state that the reason you choose for withdrawal decides how much money you will get. If for the reason you have chosen unemployment and did not get salary for two consecutive months, then whatever money you have deposited in PF, you can withdraw it. The second reason is natural disaster.

In this, you will get 75% plus interest of the total amount deposited in PF. OR 3 months salary plus DA. Whichever is less of these two, you will get. Exactly the same rule is for advance withdrawal of PF at the time of Kovid-19. PF advance can be withdrawn only once in the name of Covid-19. The question is that you can apply to withdraw money from PF account many times before retirement and how many times you can get money.

EPFO rules say that money can be withdrawn from PF account many times before retirement, but reason has to be given for that. For example, if there is a marriage of a son or daughter in the house, then you can easily withdraw money from PF but not more than 3 times.

When can you withdraw money

If you want, you can withdraw money 3 times for the education of son or daughter after 10th. If you are buying or building a house or land for it, then you can withdraw money just once.

Any number of times you can withdraw money from EPF account for medical emergency before retirement. There is no prohibition in withdrawing money, but you should also take care of its tax rules. If you withdraw PF money before 5 consecutive years of service, then TDS will be deducted at the rate of 10%. This rate is the same as when giving PAN while withdrawing money.

If PAN number is not given then TDS will be deducted at the rate of 30%. If you withdraw PF money after 5 years of continuous service, then no tax will be levied on it. If an employee transfers his EPF money to the National Pension Scheme or NSC, then he will not have to pay any kind of tax.

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Employees’ Provident Fund Organization ie EPFO ​​account holders (EPFO Subscribers) can get a big gift soon. According to the report of ET Now Swadesh, the minimum pension (EPFO Pension) can be increased three times. It has been said in the report that a meeting of the Central Board of Trustees of EPFO ​​is going to be held next month. The three-fold increase in the minimum pension is expected to be discussed in this meeting . The minimum pension can be increased from the present Rs 1,000 to Rs 3,000.

According to the report, a committee headed by the Labor Secretary will submit its report in this matter soon. This decision will benefit about 6.5 lakh pensioners and 5 crore subscribers of EPFO.

There may be an increase in the limit of investment in equity Apart from this, the discussion on increasing the CBT equity limit from 15 percent to 25 percent will also be discussed in the meeting. Let us tell you that the labor union is not in favor of increasing investment in equity. Behind this, he is citing the uncertainty in the stock market as the reason.

Let us tell you that a few days ago, the Finance Ministry had announced 8.1 percent interest rate for the financial year 2021-22, giving a shock to the Employees’ Provident Fund Organization subscribers. This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund.

Actually, debt funds are not getting the required returns, so efforts are being made to get the targeted return by increasing investment in equities. An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees.

A meeting of the Central Body of Trustees is proposed in the last week of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

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There is good news for 73 lakh pensioners of Employees’ Provident Fund Organization (EPFO). Now pensioners can take the help of face recognition facility to file their digital life certificate. The biggest benefit of this will be those pensioners whose fingerprints and iris are finding it difficult to match biometrics.

To get pension, pensioners have to file life certificate every year. This is proof that you are alive. It is also more convenient because you can take advantage of it from anywhere.

Calculator facility

Union Labor and Employment Minister Bhupendra Yadav launched face authentication technology for pensioners. Apart from this, the Labor Minister also launched a calculator for insurance schemes related to pension and employee deposits. Through this calculator, pensioners and their family members will be able to calculate the death benefit related to death in addition to pension online.

Training Policy of EPFO

Along with this, the Labor Minister also released the training policy of EPFO. Its objective is to make the officers and employees of EPFO ​​a competent, accountable and future ready. Under the training policy, 14,000 personnel will be trained annually for 8 days and its total budget, salary budget will be 3% of Along with this, the Labor Minister also released a legal framework document with the aim of making EPFO ​​efficient and accountable so that litigation and its disposal can be ensured in a time bound manner.

The EPFO ​​has given a shock to the people who are expecting an increase in the interest on the PF fund. In fact, the pension body has withdrawn the proposal to increase the investment limit in equity from 15 percent to 20 percent. It was not put up for consideration in the Central Board of Trustees. EPFO trustee Harbhajan Singh said that the employees’ representatives had opposed it, after which the proposal was not considered. He said that the representatives want a detailed discussion on this proposal in view of the condition of the stock market.

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This interest rate is the lowest interest rate in 40 years. Earlier, the government had given 8.5 percent interest. According to an estimate, if someone has a fund of Rs 10 lakh in his account, then the entire Rs 81,000 will be credited to his account.

However, no official statement has come from the government for this yet. But sources claim that by August 30, money will be credited in the accounts of all the employed people.

how to check balance

You can follow 4 ways to check your PF balance. Or you can choose any one of the four methods. In these ways, you can check the balance through SMS and you can also know by giving a missed call.

Apart from this, you can also check through EPFO’s website, and UMANG app. For this, you have to send a message by SMS to 7738299899 by writing EPFO ​​UAN LAN (language) from the mobile number registered with EPFO.

The calculation of interest will be something like this

If you have Rs 10 lakh in your PF account, you will get Rs 81,000 as interest. On the other hand, if you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest. Also, if you have Rs 5 lakh in your account, you will get Rs 40,500 as interest. If you have one lakh rupees in your account, then 8,100 rupees will come.

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At the same time, the government has also taken steps for pensioners. The EPFO ​​board has approved the use of Face Authentication Technology for Digital Life Certificate. The EPFO ​​on Saturday launched a facility to allow its over 73 lakh pensioners to submit digital life certificates using face authentication technology from anywhere.

face authentication technology

This Face Recognition Authentication will assist those old pensioners who face difficulties in getting their bio-metrics (finger print and iris) due to old age for filing life certificates. Union Minister of Labor and Employment Bhupendra Yadav, who is the chairman of the Central Board of Trustees, the apex decision-making body of the EPFO, introduced the face authentication technology for pensioners, a Labor Ministry statement said.

got this approval

Earlier in the day, the CBT in its 231st meeting gave in-principle approval for centralized distribution of pension to further improve EPFO ​​services for pensioners. Now the Central Pension Payment System for Pensioners has been given in-principle approval. At the same time, digital calculator has also been approved for pension information.

They will also benefit

Yadav also launched Pension and Employee Deposit Linked Insurance Scheme calculator which provides online facility to the pensioner and family members to calculate the benefits of pension and death linked insurance benefits for which they are eligible. Also, pension amount will be transferred in the account, which will make the process easier. Also, it has been decided to link ESIC with Ayushman Bharat scheme.

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Life Certificate (Jeevan Pramaan Patra) is one of the most important documents for pensioners. Now retirement fund body EPFO ​​has brought good news for pensioners. In fact, EPFO ​​on Saturday started the facility of submission of Digital Life Certificate from anywhere using Face Authentication Technology for its more than 73 lakh pensioners.

Elderly pensioners will get relief

The facial recognition authentication will help the elderly pensioners who face difficulties in collecting their biometrics (finger print and eye recognition) due to old age for filing life certificates. The Labor Ministry said in a statement that Union Labor and Employment Minister Bhupendra Yadav launched Face Authentication Technology facility for pensioners.

Earlier, EPFO’s apex body Central Board of Trustees (CBT) in its 231st meeting gave in-principle approval to the proposal for centralized distribution of pension to further improve EPFO ​​services for pensioners. It said that its offering will be in different stages and the modalities will be further developed.

Pension and Employee Deposit Linked Insurance Scheme calculator also introduced

Yadav also introduced Pension and Employee Deposit Linked Insurance Scheme calculator which provides online facility to the pensioner and family members to calculate various benefits of pension and death linked insurance benefits. He also released the training policy of EPFO ​​which aims to develop the officers and employees of EPFO ​​into a competent, responsible and future ready worker. Under the training policy, 14,000 employees will be trained for 8 days annually and the salary for thisbudget3 per cent will be kept.

Yadav also released the Legal Framework Document which aims at making the EPFO ​​an efficient and responsible litigant to ensure the conduct of litigation in a coordinated and time bound manner. He also laid the foundation stone of Regional Office Building, Udupi in a virtual program. Bhoomi Pujan was performed locally by Udupi Legislative Assembly MLA K Raghupati Bhat.

Appointment of Citibank as Custodian of Securities of EPFO ​​for 3 years

The CBT also approved the appointment of Citibank as Custodian of Securities of EPFO ​​for a period of 3 years. A proposal to extend the tenure of the existing securities custodian Standard Chartered Bank till the new custodian takes over was also approved.

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Interest money is expected to arrive in the account of PF employees by July 30, due to which a lot of enthusiasm is being seen among the people. The government has announced to give 8.1 percent interest money for the financial year 2020-21, which is believed to be the lowest in forty years.

Earlier, 8.5 percent interest was announced. EPFO, the PF deducting body, has not yet officially announced the interest, but this claim is being made in all the media reports.

• so much money will come in the account

The Central Government has decided to send 8.1 percent interest to the account of PF employees. This will benefit more than 6 crore employees. Accordingly, if Rs 10 lakh is lying in your account, then interest of Rs 81,000 will be available.

• Check amount like this

You can know how much money is in PF account from your mobile sitting at home. You have to send EPFO ​​UAN LAN to 7738299899 from the mobile number registered with EPFO. If you need information in English, you should type ENG instead of LAN. Thus HIN is written in Hindi and TIM in Tamil.

• Check money with this app

Download UMANG App from Play Store on your Smartphone.

Log in to the app by registering your phone number.

Go to the Services directory in the top left corner menu.

Here click on EPFO ​​option. After going to View Passbook, check your UN number and balance through OTP. With this you can easily access your PF account.

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Talking about the same Employees Provident Fund Organization, the interest received in the PPF account in the financial year 2022 has been calculated. Soon this has to be transferred to the account of the account holders. This time a total of Rs 72000 crore deposited by the government is expected to be sent to the servant’s account.

Significantly, last year people had to wait for 6 to 8 months for interest. The atmosphere had become a bit different due to his son, but this year the government will not delay in transferring him. According to the information, the interest money in the account will be transferred soon. Talking about the interest level of this year, it has reached a low of 24 years.

In this way interest can be calculated

If you have 1000000 rupees in your account then 81000 will be given as interest.
If you have ₹ 700000 in your PF account then you will get interest of ₹ 56700.
If ₹ 500000 is present in your PF account, then interest up to ₹ 40500 will be given.
If you have ₹ 100000 in your PF account then ₹ 8100 will be available.

In this way, it is very easy to check the balance PF money by giving a missed call. You will get the information after you give missed call on 01122901406 from your registered mobile number. After this, you will also be given the details of PF by the message of EPFO. After your UAN, PAN and Aadhar are linked that you will get the benefit of it.

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Money will come in the account soon

Most of the employees across the country contribute to the PF account. If PF money is deducted from your salary, then soon a large amount can be transferred to your account. At present, more than 6 crore employees contribute to the PF account across the country.

Only these employees will get benefits

Employees’ Provident Fund Organization (EPFO) is going to transfer PF interest money to the employees’ account very soon. Such employees who have 5 lakh rupees deposited in their PF account, they will get 40 thousand rupees as interest. It is being claimed in many media reports that the interest amount can be transferred to the PF account soon.

You can check PF account balance sitting at home

• To check your PF account balance, first you have to go to epfindia.gov.in.
• After this you have to click on the option of ‘Click here to know your EPF balance’.
• After this you have to go to the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘member balance information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the website link of the EPFO ​​office of your state.
• After that you have to click on the option of ‘Submit’.
• As soon as this whole process is completed, your PF account balance will be displayed on the screen.

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What is the matter of removal of EPS limit Before proceeding on this matter, let us understand what is this whole matter. At present, the maximum pensionable salary is limited to Rs 15,000 per month. Meaning, whatever your salary may be, but the calculation of pension will be only on Rs 15,000. The matter is going on in the court to remove this limit.

On August 12 last year, the Supreme Court had adjourned the hearing of a batch of petitions filed by the Union of India and the Employees’ Provident Fund Organization (EPFO), which said that the pension of employees cannot be limited to Rs 15,000. . The hearing of these cases is going on in the court.

What are the rules regarding EPS now?

When we start working and become a member of EPF, then at the same time we also become a member of EPS. The employee gives 12% of his salary in EPF, the same amount is also given by his company, but a part of this 8.33 percent also goes to EPS. As we mentioned above that at present the maximum pensionable salary is only 15 thousand rupees, that means every month the pension share is maximum (8.33% of 15,000) Rs 1250.

Even when the employee retires, the maximum salary for calculating the pension is considered to be only Rs 15 thousand, according to this, the maximum pension an employee can get under EPS is Rs 7,500.

This is how pension is calculated

One thing must be noted that if you have started contributing to EPS before September 1, 2014, then the maximum limit of monthly salary for pension contribution for you will be Rs.6500. If you have joined EPS after September 1, 2014, then the maximum salary limit will be 15,000. Now see how pension is calculated.

EPS Calculation Formula

Monthly Pension = (Pensionable Salary x Years of EPS Contribution)/70
Here assuming the employee started contributing to EPS after 1st September, 2014, then the pension contribution would be Rs 15,000. Suppose he has worked for 30 years.
Monthly pension = 15,000X30/70 = Rs 6428

Maximum and Minimum Pension One more thing to remember that the employee’s service of 6 months or more will be considered as 1 year and if it is less then it will not be counted. Meaning if the employee has worked for 14 years 7 months, then it will be considered as 15 years.

But if you have worked for 14 years and 5 months, then only 14 years of service will be counted. The minimum pension amount under EPS is Rs 1000 per month, while the maximum pension is Rs 7500. 8,571 will get pension If the limit of 15 thousand is removed and your basic salary is 20 thousand rupees, then the pension you will get according to the formula will be this. (20,000 X 30)/70 = Rs 8,571.

Existing Conditions for Pension (EPS)

It is necessary to be an EPF member for pension.
It is mandatory to be in the job for at least 10 regular years.
Pension is available when the employee turns 58.
There is an option to take pension after 50 years and even before the age of 58.
Keep in mind that on taking the first pension, you will get the reduced pension and for this you will have to fill Form 10D.
On the death of the employee, the family gets pension.
If the service history is less than 10 years, then they will get the option to withdraw the pension amount at the age of 58 years.

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The government is going to transfer the interest of the financial year 2022 to the account of EPF account holders. Let us tell you that this time interest will be available at the rate of 8.1 percent.

According to the information, the Employees’ Provident Fund Organization has calculated the interest received in the PF account in the financial year 2022. Soon it will be transferred to the account of the account holders. This time a total of Rs 72,000 crore deposited in the government’s account will be sent to the employed person’s account.

When will the money be transferred?

It is worth noting that last year people had to wait for 6 to 8 months for interest. Last year the atmosphere was different due to Covid but this year the government will not delay. According to media reports, interest money can be transferred to the account till August. This year’s interest is at the lowest level in 40 years.

The calculation of interest is quite simple.

• If you have Rs 10 lakh in your PF account, then you will get Rs 81,000 as interest.
• If you have Rs 7 lakh in your PF account, then you will get Rs 56,700 as interest.
• If you have Rs 5 lakh in your PF account, then interest of Rs 40,500 will come.
• If you have one lakh rupees in your account then 8,100 rupees will come.
  Know balance by missed call

To check PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this you will get the details of PF through the message of EPFO. Here it is also necessary to have your UAN, PAN and Aadhaar linked.

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In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

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A big update has come regarding Employees’ Provident Fund (EPF). It was being said that the government may soon change the interest rate on EPF. Last month itself, the central government had approved 8.1 percent interest rate on Employees’ Provident Fund (EPFO) deposits for 2021-22. Now the Minister of State for Labor and Employment, Rameswar Teli in Parliament has cleared the government’s stand regarding the change in interest rate. He has given information to the Rajya Sabha in a written reply to a question.

Rameshwar Teli was asked whether the government would reconsider increasing the rate of interest on the amount deposited in EPF. Responding to this, he made it clear that there is no proposal to reconsider the interest rate. Also, Rameshwar Teli told that the interest rate of EPF is higher than the interest rate available on many government schemes. He told that the interest rate of EPF (8.10 percent) is higher than the interest available on Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

Based on the recommendation of the CBT, the Center in June this year had approved an interest rate of 8.1 per cent on PF deposits for 2021-22. The Minister of State said that the interest rate is dependent on the income received from the investment of EPF. It is distributed only as per the EPF Scheme, 1952.

lowest interest in four decades

Right now the rate of interest on PF is at the lowest level in several decades. EPFO has fixed the rate of interest of PF at 8.1 percent for 2021-22. This is the lowest rate of interest on PF since 1977-78. Earlier in 2020-21, PF was getting interest at the rate of 8.5 percent. There was no change in the PF interest rate in the fiscal year 2020-21 (FY21). Just a year before this, in 2019-20, this interest rate was reduced from 8.65 percent to 8.5 percent.

Where would the PF money be invested?

EPFO invests the amount deposited in the PF account holder’s account at many places. A part of the earnings from this investment is given to the account holders in the form of interest. At present, EPFO ​​invests 85 per cent in debt options. These also include government securities and bonds. The remaining 15 per cent is invested in ETFs. The interest of PF is decided on the basis of earning from debt and equity.

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Payment of outstanding DA

According to the news, the government can pay the outstanding DA of central employees next month. However, no official statement has come from the government on this yet. Government employees have a total of 18 months DA arrears from January 2020 to June 2021. According to the news, the central employees can get the outstanding DA arrears of one and a half to two lakh rupees at a time. Employees are continuously demanding payment of their outstanding DA.

DM may increase

Since last month, it is being expected that the government can increase the DA of central employees. In view of the rising inflation, it is now being said that the government will increase the DA of the employees by at least 4-5 percent. In the month of June also, the retail inflation rate was above 7 percent, which is more than the target set by the Reserve Bank. Because of this, it is expected that the government can increase the DA of the employees.

At present, employees are getting DA at the rate of 34 per cent. The government had increased DA by 3 per cent in March this year. In the midst of ever-increasing inflation, the government can give good news to the employees. If the government increases the DA, then more than 50 lakh employees and 65 lakh pensioners will get its benefit.

Can get PF interest

The government has stamped the interest rate on the amount deposited in the Employees’ Provident Fund Organization (EPFO). For the financial year 2021-22, the interest rate on EPF has been fixed at 8.01. In the last financial year, PF was getting 8.5% interest.

It is expected that the government can put the PF interest money in the employees’ account in July. 12% of the basic salary of salaried people is deposited in EPF. You can also check your deposit amount through UMANG app, EPFO ​​member e-service portal, SMS, or missed call.

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The government has announced to give 8.1 percent interest for the financial year 2020-21, which is the lowest in the last forty years. Earlier also it was announced to give 8.5% interest. The EPFO, which keeps the accounts of PF, has not yet officially announced the date of sending the interest money, but in some reports it is being claimed till August 30.

Know how many thousand rupees will come in the account

According to the Modi government of the Center, EPFO ​​is now going to transfer 8.1 percent interest in the account of PF employees. As per the announcement, 8.1 percent interest will be given on the amount. Accordingly, if 8 lakh rupees are lying in your account, then about 64 thousand rupees will be given as interest. There is a lot of enthusiasm among the employees regarding this. The government annually puts PF money in the account of PF employees.

Just check

• To check your PF account balance, first you have to visit epfindia.gov.in.
• After this you have to click on the option ‘Click Here to Know your EPF Balance’.
• After this you have to visit the page of epfoservices.in/epfo/ through the redirect link.
• After this you have to click on the option of ‘Member Balance Information’.
• After this you have to enter your PF account number and your registered mobile number here.
• After this you have to select your state and click on the EPFO ​​office website link of your state.
• After that you have to click on the option of ‘Submit’.

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1.83 lakh interest on 5 lakh deposit

According to the FD calculator, if you deposit a lump sum deposit of Rs 5 lakh in SBI for 5 years, then on maturity you will get Rs 6,57,033. In this, interest of Rs 1,57,033 will be earned. On the other hand, if you are a senior citizen, then on an FD of Rs 5 lakh, you will get Rs 6,83,450 on maturity. In this, there will be an income of Rs 1,83,450 from interest.

SBI Wecare Deposit for Senior Citizen

SBI is running SBI Wecare Scheme for Senior Citizens in Retail Term Deposit / Fixed Deposit. In this scheme, in addition to 0.50 percent, 0.30 percent ie 0.80 percent more interest is being offered to all senior citizens on FDs with tenure of 5 years or more. The bank has extended this scheme till 30 September 2022.

Interest rates of banks

Apart from SBI, Punjab National Bank (PNB) is offering 5.25 per cent annual interest to common customers and 5.75 per cent per annum to senior citizens on its 5-year tax saver FDs. At the same time, HDFC Bank is paying 5.45 percent annual interest to the common customer and 5.95 percent to the senior citizens for FDs above 5 years. Apart from this, if we talk about the tax saver FD of ICICI Bank of the private sector, it is paying 5.45 percent annual interest to common customers and 5.95 percent to senior citizens.

Tax saving on FD up to 1.5 lakhs

Fixed Deposit / Term Deposit of banks is considered safe. This is a good option for risk-averse investors. Tax benefit of tax exemption is available in section 80C on 5 years tax saving FD. You can save tax up to Rs 1.5 lakh in banks. It has a lock-in period of 5 years. However, keep in mind that the return on maturity of the tax saving FD is taxable.

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When will the money be transferred?

It is worth noting that last year people had to wait for 6 to 8 months for interest. Last year the atmosphere was different due to Covid but this year the government will not delay. According to media reports, interest money can be transferred to the account till August. This year’s interest is at the lowest level in 40 years.

The calculation of interest is quite simple

1. If you have Rs 10 lakh in your PF account, then you will get Rs 81,000 as interest.
2. If you have Rs 7 lakh in your PF account, then you will get Rs 56,700 as interest.
3. If you have Rs 5 lakh in your PF account, then interest of Rs 40,500 will come.
4. If you have one lakh rupees in your account then 8,100 rupees will come.

1. Know by Missed Call To check balance

PF money, you have to give a missed call on 011-22901406 from your registered mobile number. After this you will get the details of PF through the message of EPFO. Here it is also necessary to have your UAN, PAN and Aadhaar linked.

2. Check Balance Online

• To check balance online, log on to the EPFO ​​website.
• Click here on e-passbook epfindia.gov.in.

• Now on clicking on your e-passbook, a new page will appear on passbook.epfindia.gov.in.
• Now here you fill your username (UAN number), password and captcha.
• After filling all the details you will come to a new page and here you have to select the member ID.
• Here you will get your EPF balance on e-passbook.

3. Balance check can also be done on UMANG App

1. For this, open your UMANG App (Unified Mobile Application for New-age Governance) and click on EPFO.
2. Now on the second page click on Employee Focused Services.
3. Here you click on ‘View Passbook’. With this, you fill your UAN number and Password (OTP) number.
4. OTP will come on your registered mobile number. After this you can check your PF balance.

4. Check Balance Through SMS

If your UAN number is registered with EPFO ​​then you can get your PF balance information through message. For this you have to send EPFOHO to 7738299899. After this you will get the information of PF through message. Let us tell you that if you want information in Hindi language, then it has to be sent by writing EPFOHO UAN. This service to know PF balance is available in English, Punjabi, Marathi, Hindi, Kannada, Telugu, Tamil, Malayalam and Bengali. For PF balance, it is necessary that your UAN, bank account, PAN and Aadhaar (AADHAR) should be linked.

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Let us tell you that pensioners going to get pension from Provident Fund Organization (EPFO) are going to prove to be very beneficial. Actually, there has been a big change from EPFO ​​regarding the arrangement of pension amount. Its benefits are going to be available to all pensioners.

According to the information, about 73 lakh pensioners of the country are going to get its benefit. For this, the government is preparing to set up a central pension distribution system. Talking about this regard, the meeting of EPFO ​​will start on 29 and 30 July. According to the information received, approval for this proposal will start in this meeting.

If seen at this time, if we talk about the 138 regional offices of EPFO, then pension is going to be sent to the accounts of pensioners. Due to which the pensioners are seen, the work is being done to give the amount in their account on different days and times. If this system is approved easily, then the work of sending pension to the accounts of more pensioners with 73 lakh people across the country will be done in one go.

EPFO customers are going to get the benefit

According to the information, after the implementation of the centralized system, EPFO ​​subscribers are going to get a lot of benefits. There is no duplication due to this, along with this, after the merger, the work of converting multiple PFs of one member into one account will be done. If any person has become eager to change jobs, then he starts getting rid of transferring his PF account.

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EPFO Pension: In the meeting to be held on July 29 and 30, major changes in the system of Central Pension Distribution System will be discussed. After getting approval in the meeting, 73 lakh pensioners across the country will get the pension amount on the same date and time.

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Employees’ Provident Fund Organization (EPFO) in its meeting to be held on July 29 and 30 will approve it after considering the proposal for setting up of Central Pension Distribution System (EPFO Pension Plan). With the establishment of this system, pension will be transferred in one go to the accounts of 73 pensioners across the country. At present, 138 regional offices of EPFO ​​transfer pension to the accounts of the beneficiaries of their area. In such a situation, pensioners get pension on different days and times.

A proposal to set up a central pension distribution system would be taken up in the meeting of the Central Board of Trustees (CBT), the apex decision-making body of the EPFO, to be held on July 29 and 30, a source said. The source said that after the installation of this system, the distribution of pension will be done on the basis of the database of 138 regional offices. With this, 73 lakh pensioners will be given pension simultaneously.

The source said that all the regional offices deal with the needs of the pensioners of their area differently. This allows pensioners to be paid pension on different days. In the 229th meeting of the CBT held on November 20, 2021, the Trustees had approved the proposal for development of a centralized IT based system by C-DAC.

The Labor Ministry said in a statement after the meeting that thereafter the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and delivery of services.

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In the EPF meeting held in the month of March before Holi, it was decided to reduce the PF interest rate. Earlier it was 8.5 percent, which has now been reduced to 8.1 percent. This rate is the lowest in the last four decades i.e. 40 years. Now the government has also approved keeping the interest rate on EPF at 8.1 percent for 2021-22.

In 1977-78, the EPFO ​​had given an interest of 8 per cent. Since then it has been 8.25 per cent or more. The two-day meeting of EPFO ​​started on Friday, March 11, which ended on March 12, in which it was decided to reduce the interest rate of EPF.

The EPFO ​​had fixed 8.5 percent interest in the financial year 2020-21 and in the previous financial year. Earlier in 2018-19, 8.65 percent interest was given on EPFO. EPFO had paid 8.65 per cent interest in 2016-17 and 2017-18 also. At the same time, the interest rate was 8.8 percent in 2015-16, 8.75 percent in 2013-14 and 2014-15 also.

After getting approval from the government, EPFO ​​will now start adding interest amount to the EPF accounts of the employees. According to the EPFO ​​office order issued on Friday, the Ministry of Labor and Employment has informed about the approval of 8.1 percent interest to EPFO ​​subscribers for 2021-22. The Labor Ministry had sent this proposal to the Finance Ministry for approval.

Trustee KE Raghunathan, who represents the employees in the CBT, said the speed with which the labor and finance ministries have approved the rate of interest, given the need for funds to the employees, is indeed commendable. This will help them to meet the education and other needs of their children.

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Employees have the option to withdraw money from their Provident Fund (PF) when needed. Many times people withdraw money from PF account. But there are some terms and conditions for this also. If money is withdrawn from the PF account prematurely and the rules are not followed, then tax may have to be paid. Therefore, it is important to know the rules related to PF. Know about the rules related to PF account.

When to withdraw money from PF If it is necessary for you to withdraw money from PF account, then it should be done only after 5 years. If you withdraw more than 50 thousand rupees before 5 years, 10 percent TDS has to be paid. That’s why it is important that you keep the money in PF for 5 years. 

Why does it take TDS to withdraw money from PF account before 5 years, the employer’s contribution comes under the income from salary category. At the same time, the contribution of the employee comes in income from other sources. The interest earned on these two is taxed. If someone’s income is less than Rs 2.5 lakh and he withdraws money from PF account, he should submit Form 15GH. TDS is not deducted on doing so.

Keep these things in mind that tax is levied on withdrawing money from PF account before 5 years. 10% TDS is deducted on withdrawal of more than Rs 50,000. To avoid TDS, one should withdraw money from PF account after 5 years. Interest is earned on the deposited amount.

When withdrawal of money is not taxed , in some situations, tax is not levied on withdrawing money from PF account. If the employee has lost his job and he is withdrawing money, then there will be no tax. Withdrawal from PF account will not attract tax even in the event of company closure. After the death of the employee, there is no tax on withdrawing money from PF. At the same time, there is no tax on transfer of PF along with joining in a new company.

According to the rules of EPF, a member can withdraw 75 percent of the total amount deposited during the job after one month of job loss. At the same time, if the person remains unemployed for more than two months, then he can withdraw the entire amount from the PF account.

When to pay tax on PF, there are four components of contribution in PF – the contribution of the employee, the amount deposited by the employer and the interest received on both. Of these four, three have to be taxed. This tax is levied on the contribution of the employee and the interest earned on them.

Tax Basis The calculation of tax on investment in PF also depends on whether the employee has availed deduction under section 80C of the Income Tax Act at the time of filing ITR or not. According to the Income Tax Act, if the employee deposits the amount in PF, then his contribution is exempted from income tax.

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The central government had talked about giving 8.1 percent interest rate on the provident fund for some time. This interest rate is the lowest interest rate in 40 years. Earlier, the government had given 8.5 percent interest. So this time interest will be transferred to your PF account at the rate of 8.1 percent.

Calculation of interest is quite simple
– If you have Rs 10 lakh in your PF account then you will get Rs 81,000 as interest.
If you have Rs 7 lakh in your PF account, you will get Rs 56,700 as interest.
If you have Rs 5 lakh in your PF account, then Rs 40,500 will come as interest.
If you have one lakh rupees in your account, then 8,100 rupees will come.

How to Check Balance
You can follow 4 ways to check your PF balance. Or you can choose any one of the four methods. In these ways, you can check the balance through SMS and you can also know by giving a missed call. Apart from this, you can also check through EPFO’s website, and UMANG app.

By SMS: For this, you have to send a message by writing EPFO ​​UAN LAN (Language) to 7738299899 from the mobile number registered with EPFO. LAN stands for your language. If you want information in English, you have to write ENG instead of LAN. Similarly, HIN is to be written for Hindi and TAM for Tamil. For example, to get information in Hindi, you have to message by typing EPFOHO UAN HIN.

By missed call: If you want, you can also know your EPF balance through a missed call. For this, you have to make a missed call on 011-22901406 from your registered mobile number. After missed call, your phone will be disconnected automatically and you will get your balance information.

Through website: To check your balance online, you visit the EPF passbook portal. Log in to this portal using your UAN and password. In this, click on Download / View Passbook and then the passbook will open in front of you, in which you can see the balance.

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