There are many questions in people’s mind regarding EPF i.e. Employees Provident Fund. Like when can they withdraw their money. What are the advantages and disadvantages of withdrawing money. How to transfer EPF account. But, do you know that your EPF account can also be closed on its own. If this happens, the entire money lying in your EPF account may get stuck. You may have to struggle hard to remove it.

When does EPF account get closed?

If your old company is closed and you have not transferred your money to the new company’s account or if there is no transaction in this account for 36 months, then after 3 years this account will automatically be closed and will be added to the inactive accounts of EPF. . Not only this, you may have to struggle hard to withdraw money from this account. You can withdraw money through KYC with the help of the bank. However, interest continues to accrue even on your inoperative account.

What is the instruction of EPFO?

EPFO had said in one of its circular some time ago that it is necessary to be careful while settling the claims related to inoperative accounts. Utmost care should be taken to minimize the risk of fraud and claim payments are made to genuine claimants.

What is inoperative account?

Provident fund accounts in which contribution amount is not deposited for more than 36 months, EPFO ​​puts them in the category of inoperative accounts. However, interest is also available on inoperative accounts.

Who will get certified?

To settle the claim related to inactive PF accounts, it is necessary that the employer of the employee certifies that claim. However, in case of employees whose company has been closed and there is no one to certify the claim, the bank will certify such claim on the basis of KYC documents.

Which documents will be necessary?

KYC documents include PAN Card, Voter Identity Card, Passport, Ration Card, ESI Identity Card, Driving License. Apart from this, any other identity card issued by the government like Aadhaar can also be used for this. After this, the Assistant Provident Fund Commissioner or other officers will be able to approve withdrawal or account transfer from the accounts according to the amount.

With whose approval will I get the money?

If the amount is more than 50 thousand rupees, the money will be withdrawn or transferred after the approval of the Assistant Provident Fund Commissioner. Similarly, if the amount is more than 25 thousand rupees and less than 50 thousand rupees, the account officer will be able to approve fund transfer or withdrawal. If the amount is less than 25 thousand rupees, then the dealing assistant will be able to approve it.

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There are many questions in people’s mind regarding EPF i.e. Employees Provident Fund. Like when can they withdraw their money. What are the advantages and disadvantages of withdrawing money. How to transfer EPF account. But, do you know that your EPF account can also be closed on its own. If this happens, the entire money lying in your EPF account may get stuck. You may have to struggle hard to remove it.

When does EPF account get closed?

If your old company is closed and you have not transferred your money to the new company’s account or if there is no transaction in this account for 36 months, then after 3 years this account will automatically be closed and will be added to the inactive accounts of EPF. . Not only this, you may have to struggle hard to withdraw money from this account. You can withdraw money through KYC with the help of the bank. However, interest continues to accrue even on your inoperative account.

What is the instruction of EPFO?

EPFO had said in one of its circular some time ago that it is necessary to be careful while settling the claims related to inoperative accounts. Utmost care should be taken to minimize the risk of fraud and claim payments are made to genuine claimants.

What is inoperative account?

Provident fund accounts in which contribution amount is not deposited for more than 36 months, EPFO ​​puts them in the category of inoperative accounts. However, interest is also available on inoperative accounts.

Who will get certified?

To settle the claim related to inactive PF accounts, it is necessary that the employer of the employee certifies that claim. However, in case of employees whose company has been closed and there is no one to certify the claim, the bank will certify such claim on the basis of KYC documents.

Which documents will be necessary?

KYC documents include PAN Card, Voter Identity Card, Passport, Ration Card, ESI Identity Card, Driving License. Apart from this, any other identity card issued by the government like Aadhaar can also be used for this. After this, the Assistant Provident Fund Commissioner or other officers will be able to approve withdrawal or account transfer from the accounts according to the amount.

With whose approval will I get the money?

If the amount is more than 50 thousand rupees, the money will be withdrawn or transferred after the approval of the Assistant Provident Fund Commissioner. Similarly, if the amount is more than 25 thousand rupees and less than 50 thousand rupees, the account officer will be able to approve fund transfer or withdrawal. If the amount is less than 25 thousand rupees, then the dealing assistant will be able to approve it.

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Whenever the interest amount of the subscribers is transferred from the EPFO ​​side, you can check it sitting at home. EPFO has given its members the facility to check EPF balance in 4 ways. Subscribers can check EPF account balance by sending SMS from mobile, giving missed call, logging on to website and also through UMANG app.

check by missed call

You can know your PF balance through missed call service of EPFO. You will have to give a missed call on the number 9966044425 issued by EPFO ​​from your registered mobile number. In a short while you will get a message, which will have the details of your EPF account balance. This service is absolutely free for the subscribers.

Know balance by sending SMS

You can also know EPF balance through SMS. You will have to send an SMS to the number 7738299899 issued by EPFO. The format of the message will be EPFOHO UAN ENG. Through this message, EPF account information will come in English on your registered mobile number. If you want this message in Hindi, then you have to send it by writing EPFOHO UAN HIN. This service is also available in many other regional languages.

You can also know the balance from the website

EPFO Subscriber can get complete information of PF account through the official website epfindia.gov.in. For this, you have to go to the EPF Passbook Portal on the home page. Log in there with your UAN number and password. After this click on Download/View Passbook. The passbook will open in front of you and you can see the balance.

Umang App Know Balance

You can also know EPF account balance through Umang. For this, go to EPFO ​​in the app. Then click on Employee Centric Services. Then select View Passbook and login with UAN to view the passbook. If you do not have this app, then first download it and then register in it. This app provides users with government services at one place. You can directly view your EPF passbook on this app, as well as track your claim requests. For this, you have to do one-time registration of your mobile number just once.

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For the employees who retired before September 2014, the last date of this scheme was earlier March 3, 2023. The Labor Ministry said in a statement on Monday that now, on the demand of the workers/employers union, chairman, the Central Board of Trustees has decided to extend the last date for receiving applications from such workers to May 3, 2023. Let us also tell you how you can apply online to get higher pension.

This is how you can apply by visiting the EPFO ​​portal

1. Go to the Member e-Services Portal.
2. Click on the higher pension present on the pension, use the joint option.
3. Select ‘Application Form for Joint Option’.
4. Add details including UAN, name, DOB, Aadhaar number, mobile number linked to Aadhaar and captcha.
5. Enter the OTP received on your Aadhaar-registered mobile number.
6. submit application.
7. An acknowledgment number will be generated on submission of the application form.

How to check your service history and joining date on EPFO ​​portal?

1. Visit the Member e-Service Portal, which can be accessed at https://unifiedportal-mem.epfindia.gov.in/memberinterface/
2. Enter Universal Account Number (UAN), Password and Captcha to login.
3. Now choose Service History from the View menu.
4. The ‘Service History’ option displays the list of organizations the person has worked for. Check the date you joined the DOJ or any organization.
5. If the portal displays DOJ before 1st September 2014, then the person is eligible to apply for High Pension. If the person changes jobs after this date, they will still be able to opt for higher pension as long as their pension account is active with EPFO.

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Many users have complained about the non-availability of e-passbook facility of EPFO ​​on social media platforms.

One user wrote on Twitter, “As usual, EPFO ​​website (passbook) is not working. Tried with all three different browsers. This user also tagged the Twitter handle of the Ministry of Labour. Apart from this, another user wrote that the EPFO ​​passbook portal is down for the last 7 days.

EPFO told, when the service will start However, EPFO ​​has flashed a message on its website that the facility of e-passbook will be available from 5 pm today. Meanwhile, according to the circular dated December 29, 2022 of the Employees’ Provident Fund Organization (EPFO), the Central Government has directed to implement the instructions given in the order of the Supreme Court.

Explain that the court has abolished the limit of monthly salary of Rs 15,000 for joining the pension fund. In the amendment of the year 2014, the limit of maximum pensionable salary (including basic pay and dearness allowance) was fixed at Rs. 15,000 per month and before amendment the maximum pensionable salary was Rs. 6,500 per month.

6 months time given to join the pension scheme The Supreme Court termed the Employee Pension (Amendment) Scheme of the year 2014 as “legal and valid”. Giving relief to many employees, the court said that those employees who have not yet exercised the option to join the Employees’ Pension Scheme, should be given another 6 months to do so.

In this, all EPS members were given six months time from September 1, 2014, to opt for the revised scheme. Later, in its order, the court had given four months more time to eligible subscribers to opt for higher pension under EPS-95. The court had also done away with the requirement of employee contribution of 1.16 per cent of salary exceeding Rs 15,000 per month in the 2014 amendment.

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Being a member of EPFO ​​means that your PF is deducted every month. An alert has been issued by the Employees’ Provident Fund Organization (EPFO) for the employees whose PF is deducted. This alert has been issued in the last few days after many frauds in the name of EPFO ​​came to the fore.

EPFO does not ask for personal information

Such alerts have been issued by EPFO ​​in the past as well, but in the last few days the cases of fraud have increased rapidly. It was told by tweeting on behalf of EPFO ​​that EPFO ​​never asks for personal information like PAN, Aadhaar, UAN, bank account and OPT from its members through phone, social media, WhatsApp etc.

Do not answer calls or WhatsApp calls

EPFO ​​warned that EPFO ​​never asks to deposit any kind of money through social media, WhatsApp etc. for information related to any service or for anything else. In such a situation, all the members are advised not to answer any such call or WhatsApp call.

Employer’s share is deposited in two parts

12 percent of the basic salary and dearness allowance of EPFO ​​members is deposited in the EPFO ​​account. Similarly, 12 percent of the basic salary has to be paid by the employer. There are two parts in this 12 percent. Out of 12 percent, the first part of 8.33 percent goes to Employee Pension Account (EPS) and the remaining 3.67 percent amount goes to EPF account. There is a provision for the employee to get this amount on retirement. But you can remove it if needed even during the job.

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Employees’ Provident Fund Organization (EPFO) has issued an alert for all the users. EPFO has asked all its members that no account holder should share the information related to the account on social media even by mistake. Due to this, account holders can become victims of big frauds. If the information about the EPF account is in the hands of fraudsters, then they can blow money from your account.

EPFO has said that EPFO ​​never asks for the information of Aadhaar, PAN, UAN, bank details from its members. If someone asks for such information on phone or social media, then be careful and do not leak it at all. Do not respond to such fraudulent phone calls or reply to any such messages.

EPFO gave information

Issuing an alert for all its users, the EPFO ​​has written in a tweet, ‘Never ask its members to share personal details like Aadhaar, PAN, UAN, Bank Account or OTP over phone or social media. EPFO further says, EPFO ​​never asks to deposit any amount through WhatsApp, social media etc. for any service.

phishing online fraud

It is worth noting that in the PF account, people’s big earnings are deposited, which people deposit for retirement expenses. Fraudsters know very well that here they will get a huge amount in one stroke, so they attack the account through phishing attack. Actually, phishing is a part of online fraud in which the depositor is tricked, the necessary information related to the account is obtained from them and then the account is cleared.

Never share this information

PF account holders do not accidentally share PAN number, Aadhaar number, UAN and your PF account number in the necessary information included in the account. Because these are such information, due to which leaking of your account can be empty. Such frauds are often seen in people leaving one job and joining elsewhere. In such a situation, these people must register a complaint with the police against any phishing call or message in which your personal details are being sought.

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As long as you remain in the job, you contribute to the EPF and when you retire, you have a sufficient amount, from which you can use this money on essential things in your old age. But many times it happens that due to lack of information or due to some mistakes, the PF account gets closed.

So it is very important for you to know that you should not make any such mistake. Account may be closed If you have not transferred your PF account from the company in which you used to work earlier, and the old company got closed. In such a situation, if there is no transaction from your PF account for 36 months i.e. money was not put in it, then your PF account will be closed. EPFO keeps such accounts in the ‘dormant’ category.

How will it be active again?

Once the account is ‘inactive’ you will not be able to transact, you will have to apply to EPFO ​​to reactivate the account. Even after being ‘inactive’, interest continues to accrue on the money lying in the account, that is, your money is not sunk, you get it back. Earlier, interest was not available on these accounts. But, in 2016 the rules were amended and interest was introduced. You should know that till the age of 58 years, interest continues to accrue on your PF account.

When is the account ‘inactive’?

• According to the new rules, the EPF account becomes ‘inactive’ if the employee has not applied for withdrawal of EPF balance.
• Even after 36 months of retirement when the member turns 55 years after that
• When the member permanently settles abroad
• If a member died
• If the member has withdrawn all superannuation funds
• If you have not claimed the PF account for 7 years, then this fund is put in the Senior Citizen Welfare Fund.

What are the instructions regarding EPFO?

EPFO has said in one of its circulars that there is a need to be careful in settlement of claims related to dormant accounts. Care should be taken that the risk related to fraud is minimized and the claim is paid to the right claimants.

Who will authenticate dormant PF accounts

In order to settle the claim relating to inoperative PF accounts, it is necessary that the employer of the employee substantiate that claim. However, if the employees whose company is closed and there is no one to certify the claim, the bank will authenticate such claim on the basis of KYC documents.

Which documents will be required?

KYC documents include PAN Card, Voter ID Card, Passport, Ration Card, ESI ID Card, Identity Card, Driving License. Apart from this, any other identity card issued by the government like Aadhaar can also be used for this. After this, the Assistant Provident Fund Commissioner or other officers will be able to approve the withdrawal or transfer of the account according to the amount.

With whose approval the amount will be received

If the amount exceeds Rs.50 thousand, the amount will be withdrawn or transferred after the approval of the Assistant Provident Fund Commissioner. Similarly, if the amount is more than 25 thousand rupees and less than 50 thousand rupees, then the account officer will be able to approve the fund transfer or withdrawal. If the amount is less than Rs 25,000 then the dealing assistant can approve it.

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Due to this, account holders can become victims of big frauds. If the information about the EPF account is in the hands of fraudsters, then they can steal money from your account.

EPFO has said that EPFO ​​never asks for Aadhaar, PAN, UAN, bank details information from its members.

If someone asks for such information on phone or social media, then be careful and never leak it. Do not respond to such fraudulent phone calls or reply to any such messages.

EPFO has issued an alert for all its users and wrote in a tweet, ‘Never to share personal details like Aadhaar, PAN, UAN, Bank Account or OTP from its members on phone or social media from its members. says.

EPFO further states, EPFO ​​never asks to deposit any amount through WhatsApp, social media etc. for any service.

Phishing Online Fraud Significantly, people’s money is deposited in the PF account, which people deposit for retirement expenses. Fraudsters are well aware that here they will get a huge amount in one stroke, so they attack the account through phishing attack.

Actually, phishing is a part of online fraud in which the depositor is duped, the necessary information related to the account is obtained from them and then the account is cleared.

Never share this information

PF account holders do not accidentally share PAN number, Aadhaar number, UAN and your PF account number in the necessary information included in the account. Because these are such information, due to which leaking of your account can be empty.

Such frauds are often seen in people leaving one job and joining elsewhere. In such a situation, these people must register a complaint with the police against any phishing call or message in which your personal details are being sought.

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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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Employees’ Provident Fund (EPF) is one of the most important financial planning and retirement investment options for lakhs of employees. With guaranteed returns and tax benefits, EPF is an investment for most people. Earlier there was also the Tax Rules on EPF on Kia Contribution and Withdrawal, but the government has brought changes in the tax benefits available to the employers and employees for contribution to EPF. With effect from April 1, 2022, provident fund accounts have been divided into taxable and non-taxable accounts. The due date for filing income tax is very near. It is necessary to file the return by 31st July. Let us also tell you what kind of changes the government has made in this. 

Understand the rules in these points

• Any interest on contribution made to EPF of an employee remains tax free only for contributions up to Rs 2.5 lakh per annum.
• Interest is charged to tax on contributions made by an employee in excess of Rs 2.5 lakh annually.
• If an employer is not contributing to the EPF of an employee, then the contribution limit has been increased to 5 lakhs.
• Tax is levied only on the excess contribution above the threshold and not on the total contribution.
• The additional contribution and the interest earned thereon will be kept in a separate account with EPFO.
• Employer’s contribution to Provident Fund (PF), NPS and retirement is tax free totaling Rs 7.5 lakh per annum. 
• The employer has to mandatorily provide EPF contribution for those employees whose monthly income is up to Rs 15,000.
• The EPFO ​​has reduced the interest rate for the financial year 2021-22 to a four-decade low of 8.1 percent. 

Many Assets Are Giving Higher Returns

Even though EPFA interest rates are currently at a 40-year low, but is giving higher returns than many assets. FD rates of public sector banks are still around 6 per cent, while EPFO ​​is giving returns of more than 8 per cent. On the other hand, the interest rates of the small savings scheme of the post office are also much lower than that of the EPFO. The interest rate in the 5-year time deposit scheme is 6.7 percent per annum. The interest rates of Senior Citizen Saving Scheme are being seen at 7.4 percent. Even the interest rates of PPF are being seen at 7.1 percent and Sukanya Yojana 7.6 percent.

File ITR by July

31st is July 31st Last date to file returns The last date to file Income Tax Returns for the financial year 2021-22 (FY22) is approaching soon. The last date for filing income tax return is 31 July 2022. The Income Tax Department made a tweet on Saturday, 16 July 2022, stating the due date. File income tax return for the financial year 2021-22 (FY22). Everyone should remember the last date, which is 31st July 2022. Yelled taxpayers and unaudited cases should file Income Tax Return (ITR) within the due date to avoid problems later. People can file ITR after the deadline has passed but they will have to pay a late fee. For more information about this, you can visit incometax.gov.in.

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The Employees’ Provident Fund Organization (EPFO) may approve a proposal to increase the investment limit in shares and related investment products from the existing 15 per cent to 20 per cent. The proposal is likely to be approved in the meeting of EPFO ​​trustees to be held on July 29 and 30. At present, the EPFO ​​can invest five per cent to 15 per cent of the investment eligible deposits in equity or equity related schemes.

Investment limit can be made up to 20%

The proposal to increase this limit to 20 per cent has been considered and approved by the Finance Audit and Investment Committee (FAIC) of EPFO. The recommendation of FAIC will be placed before the Central Board of Trustees (CBT), the apex decision making body of EPFO, for consideration and approval. According to a PTI report, the source said that the Central Board of Trustees, headed by the Union Labor Minister, may approve an increase in the investment limit in equity and equity related schemes of FAIC from the existing five to 15 per cent to 20 per cent.

In a written reply to a question in the Lok Sabha, Minister of State for Labor and Employment, Rameshwar Teli on Monday said that the FIAC, a sub-committee of the CBT, has recommended to consider raising the equity and equity related investment limit from 5-15 per cent to 5-20 per cent. .

Investment in

ETF

s was approved in August 2015

EPFO had approved investment in Exchange Traded Funds (ETFs) in August 2015. At that time, five per cent of investible deposits were invested in equity-linked products. For the current financial year, it has been increased to 15 percent.

Teli also said that EPFO’s return on equity related investments has increased to 16.27 per cent in 2021 from 14.67 per cent in 2020-21. However, trade unions have been opposing EPFO’s investment in the stock market. The reason for this is that there is no government guarantee on this investment.

Apart from this, let us tell you that in this meeting a decision can be taken regarding the formation of Central Pension Disbursal System. 73 lakh pensioners will get the benefit of this and pension can be transferred to everyone’s account simultaneously. At present EPFO ​​has 138 regional offices. All these offices give benefit to the beneficiaries in their pension account according to their own. In such a situation, pensioners get pension on different days and at different times.

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Today’s expenses create problems in the way of raising money for tomorrow. In such a situation, a employed person plans to save money in many ways. Some keep money in a bank account, some invest in schemes, some save money in other ways. There is such a way through which people can also keep their future safe and that is the money in PF account.

Actually, money is deposited in the PF account of the employed person every month, in such a situation it becomes the responsibility of the account holder to protect his account from fraudsters. So let us tell you that if you are a PF account holder, then let us know what mistakes you should not make or else you may suffer losses.

• You have to note that you do not have to login on any browser. Actually, many people login to their PF account on their office laptop or at places like cyber cafes. But doing so can harm you.
• You have to always note that login your PF account on safe browser only. Login to your personal laptop or mobile only and avoid saving account passwords.
• Don’t click on non links

  Many fraudsters send non-links to people through email or message by giving tempting offers, but you do not have to click on them. If you do this, then fraudsters can hack your system or mobile and even lick you.

• Sharing ID Password with anyone

  PF account holder should not share his ID password with anyone. Keep in mind that sharing your UAN number and password should be avoided. Anyone can scold you by achieving this.

• If you want that the amount is not withdrawn from your PF account, for this you do not have to share the OTP with anyone even by forgetting it. If you do this, you can get in trouble

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Due to this, account holders can get caught in big frauds. If the information about the EPF account is in the hands of fraudsters, then they can take away your earnings from your account. While issuing an alert, EPFO ​​has said that EPFO ​​never asks for the information of Aadhaar, PAN, UAN, bank details from its member.

In such a situation, if someone asks you for such information on phone or social media, then be careful and do not share it at all. Do not respond to such fraudulent phone calls or reply to any such messages. EPFO gave information Issuing an alert for all its users, EPFO ​​wrote in a tweet, ‘Never ask its members to share personal details like Aadhaar, PAN, UAN, Bank Account or OTP over phone or social media.

EPFO further states, EPFO ​​never asks to deposit any amount through WhatsApp, social media etc. for any service. Phishing online fraud It is worth noting that people’s big earnings are deposited in the PF account, which people deposit for retirement expenses. Fraudsters know very well that here they will get a big amount in one stroke, so they attack the account through phishing attack.

Actually, phishing is part of online fraud in which the depositor is tricked, the necessary information related to the account is obtained from them and then the account is cleared.

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