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  • How to Check Your PF Status Online

    Employees’ Provident Fund Organization (EPFO)

    The EPFO (The Employees’ Provident Fund Organization) is a statutory body under the Ministry of Labour and Employment, Government of India. The Employees’ Provident Fund Organization administers three schemes, namely, the Employees' Provident Fund Scheme 1952, Employees' Deposit Linked Insurance Scheme, 1976 and Employees' Pension Scheme, 1995. The Employees’ Provident Fund Organization is currently one of the biggest social security organizations in the world by virtue of its volume of transactions.

    PF Claim Status

    Individuals who subscribe to the EPF scheme can carry out all processes on the EPFO member portal. Subscribers can make their PF final settlement, partial withdrawal and check the status of their withdrawal or final settlement online. That said, to make a final settlement or partial withdrawal from one’s PF corpus, subscribers now do not need the attestation of their employer. All that the subscriber needs to do is to activate their UAN and ensure that their Aadhaar card details are seeded with their PF and UAN account. Before proceeding to the process of how a subscriber can track the status of a withdrawal claim, let us first discuss the steps that are required to be followed by him/her in order to make a partial or a complete withdrawal from their Provident Fund account.

    How to check your PF status online
    Figure 1. Check EPF Claim Status Online

    Steps to check PF claim status online using the EPFO portal

    Once the employee has submitted a withdrawal claim, he/she can go ahead and check the claim status.

    • Visit the EPFO member portal.
    • Click on the 'our services' tab and choose 'for employees'.
    • Click on the 'services' tab.
    • Select the 'know your claim status' tab.
    • You will be directed to the claim status link.
    • Enter the state of your PF office once you are on the claim status link.
    • Choose your PF office from the list displayed.
    • Enter your establishment code.
    • Enter your EPF account number.
    • Click on the 'submit' button to check your PF claim status.

    You can also download your e-passbook which has details of your transactions (month-wise) in your PF account.

    Steps to take before making a PF withdrawal

    To ensure the process of making a withdrawal is seamless, subscribers have to meet the below listed requirements if they wish to carry out a withdrawal without the attestation of their employer.

    • Subscribers have to ensure that their UAN is active and their mobile number is seeded with their PF account.
    • The PF member should also seed his/her Aadhaar card details with their PF account.
    • The member’s bank account details and the bank’s IFSC code has to be integrated as well.
    • For final settlements prior to completion of 5 years in the EPF scheme, the member will be required to seed his/her PAN details.

    Steps to make a PF Withdrawal Claim

    • Visit the EPFO member portal.
    • Login using your UAN and password.
    • Click on the 'Manage' tab and check your KYC details to ensure they are correct/
    • Click on the 'Online service' tab to proceed with the withdrawal if all the KYC details are correct.
    • Choose 'claim' from the drop down menu.
    • Select the 'proceed for claim' tab on the claim screen that includes one’s KYC and PF details.
    • On the “I want to apply for” option, choose the type of withdrawal you wish to make - final settlement, partial withdrawal, pension withdrawal, etc.
    • Once you select the type of claim you wish to make, fill in the relevant form and authenticate using your Aadhaar card details.
    • Enter the OTP sent to your registered mobile number.
    • Once your claim for a withdrawal or final settlement has been made, you can check your claim status by click on the 'track claim' tab.

    Steps to track the status of EPF Claims using the UMANG app

    • Open the EPFO tab on the UMANG app
    • Select the “Employee Centric Services” option
    • Choose the “Track Claim” option
    • Enter the UAN and password
    • Enter the reference number provided when filing the claim

    Inoperative Account

    If your receive a message that your account is operative, you have to send a request to the EPFO inoperative account help desk at http://59.180.231.60:9091/INOPHelpDesk.

    Complaints/Grievances

    If you wish to lodge a complaint online, you may do so by filling up a grievance registration form (online) in addition to providing details of your EPF account. You can also regularly check the current status of your complaints at http://epfigms.gov.in. You can also send reminders of your complaint.

    Methods to check your provident fund balance

    With the advent of digitalisation, the process of knowing the provident fund balance has become easier now. Previously, an individual who has a subscription in the Employees’ Provident Fund (EPF) had to wait till the end of a year to know the balance available in his/her provident fund account. However, now an employee doesn’t have to wait for the employer to share the statement of provident fund (PF) to know the balance he/she has in the PF account.

    The balance can be checked at any point in time using a computer with just a few clicks of the mouse or just a few taps on the screen of your smartphone. There are 5 different methods through which you can know the balance in your PF account. They are:

    • Using the UMANG app
    • Using the Employees’ Provident Fund Organisation (EPFO) portal
    • By sending an SMS
    • By giving a missed call
    • By using the Employees’ Provident Fund Organisation (EPFO) app

    Knowing the balance using the UMANG app

    The UMANG app is a smartphone app which was launched by the government in 2017. This app allows the individuals who have subscription to the EPF to check their provident fund (PF) balance on their smartphones. The UMANG app also offers the facility of viewing the EPF passbook as well as raising withdrawal claims and tracking them on the smartphone itself. However, to start using the app, a one-time registration process has to be completed by the subscriber using his/her mobile number.

    Knowing the balance using the Employees’ Provident Fund Organisation (EPFO) portal

    Users are now able to view their EPF passbooks on a website which is directly run by the Employees’ Provident Fund Organisation (EPFO), instead of visiting the unified portal for the same. However, in order to be able to view the PF passbook on the portal, the user is required to tag his/her Universal Account Number (UAN) to his/her account. The user has to follow the steps listed below in order to download or print the PF passbook from the website:

    • Log in to the EPFO portal at www.epfindia.gov.in.
    • Click on the 'Our Services' tab and select 'For employees' from the drop-down menu.
    • Under the 'Services' tab click on 'Member Passbook'.
    • You will be redirected to a new page where the UAN and Password have to be fed into the applicable fields.
    • One can also straightaway log in to the passbook page at https://passbook.epfindia.gov.in/MemberPassBook/Login.jsp

    However, it is important to activate the UAN before the member gets access to the passbook through the portal. The employer is responsible for activating the UAN.

    Knowing the balance by sending an SMS

    An individual can also use his/her mobile phone to send a text message and know the details pertaining to the latest contribution as well as the PF balance. The SMS can be sent to 7738299899. The following text has to be typed in the body of the message: 'EPFOHO UAN ENG'. The last 3 letters refer to the first 3 characters of the language preferred by the user. The SMS facility is available in 10 different languages including English, Bengali, Kannada, Gujarati, Punjabi, Hindi, Telugu, Malayalam, Marathi, and Tamil. Thus, if the user wants to receive a message in Punjabi he/she has to send the following message: 'EPFOHO UAN PUN' to 7738299899. However, the Universal Account Number or UAN is required to be linked to the bank account, Aadhaar number, and Permanent Account Number (PAN).

    Knowing the balance by giving a missed call

    An individual can fetch the details pertaining to the PF balance on their mobile phones by giving a missed call as well. If an individual is registered on the UAN portal, he/she can give a missed call from his/her registered mobile number on 011-22901406. The Universal Account Number or UAN should be linked to the bank account number, Aadhaar number, and Permanent Account Number (PAN) in this case as well. If the UAN is not seeded, the individual can ask his/her employer to do the same.

    Knowing the balance using the Employees’ Provident Fund Organisation (EPFO) app

    The official app of Employees’ Provident Fund Organisation (EPFO) has been launched and can be downloaded from the Google Play Store. On launching the app, the user will be required to click on the 'Member' option followed by the 'Balance/Passbook' option. After that the app will ask for the Universal Account Number or UAN and the registered mobile number of the individual.

    Steps to check EPF Balance using PAN

    If for some reason the subscriber’s username and password isn’t working, the subscriber can login to his/her PF account either by entering their registered mobile number or any of their KYC details - including PAN. For this to be a possibility, the subscriber has to ensure that their his/her PAN number is seeded with their PF account. Once that is done, they can follow the steps mentioned below to check their EPF balance using their PAN.

    • Visit the EPFO member portal.
    • Click on 'our services' and from the drop down option choose 'For employees'.
    • Click on the 'PF Balance' option or 'member passbook'.
    • As soon as the 'member balance' option is displayed, type in your PAN.
    • Click on 'submit'.
    • As soon as this is done, you will receive an SMS containing your full balance statement and the status of your account.
    • Click on download 'PF slip'.
    • As soon as the PF slip has been downloaded, you can take a print out (if required).

    EPF Balance for inoperative Accounts

    In 2011, the government of India decided against paying interest for inoperative PF accounts. Accounts that failed to have any contributions for over 36 months were deemed inoperative or dormant. This year -2016- the government reversed their decision and agreed to pay interest to even dormant accounts. The decision got people holding inoperative accounts logging into the EPFO site to check their balances. If you do not already know, listed below is the step by step procedure to checking the balance of inoperative accounts:

    • The first step is to get your UAN activated and then log on to epfindia.com
    • Once on the site, click on the ‘Inoperative Helpdesk’.
    • Next, skip the introduction and press the ‘First Time User’ button.
    • Fill in your employer details such as establishment code, state, address, your PF number, date of joining and leaving, and click on search establishment to locate your employer.
    • Enter your personal details such as name, date of birth, parents names, address, mobile number and preferred language.
    • Next, enter details of your KYC documents - PAN card number, Aadhaar card number, Bank account number and IFSC code.
    • Once you have entered all the details, generate the PIN. The PIN will be sent to your mobile, use it to proceed to check your details of the inoperative account - the outstanding amount and the last contributions and so on.
    • Send the details to your current employer - including the activated UAN - to carry on making contributions, thus making your account an active one.

    EPF Balance Form

    With technology taking the front seat, over the past few years most processes have been made hassle-free through digitization. With the introduction of UAN and the EPFO’s self-service portal, balance forms have become obsolete. Balance forms back then were issued once every financial year for employees to check their outstanding savings amounts in their PF accounts. Now, just by logging in to the EPFO’s portal, one can check their balance with just a few clicks.

    PF Balance Full Statement

    Subscribers to the EPF can check their Balance or PF status online in the account on the EPFO member portal. If required, the subscriber can even download the passbook to view the full statement - containing the contributions as well as the withdrawals (if any). To do this, subscribers will have to follow the steps mentioned below.

    • Visit the EPFO member portal.
    • Click on 'our services' and from the drop down option choose 'For employees'.
    • Click on the 'PF balance' option or 'member passbook'.
    • As soon as the 'member balance' option is displayed, enter the details of the PF office holding your account.
    • Type in your PF number, registered mobile number and your name.
    • Click on 'submit'.
    • As soon as this is done, you will receive a text message containing your full balance statement and the status of your account.

    EPF Balance for Railway Employees

    The EPF covers employees falling under the bracket of private sector. For employees belonging to the public or government sectors such as the railways, the government has formalized a State Railway Provident Fund to aid such employees. For employees who have joined the railways post 01.01.2004, provident fund rules are not applicable. Every month, voluntarily, a railway employee contributes 8.5% of Pay + GP to their Railway Provident Fund. The account holder is then given a balance statement by the State Railway Provident Fund Organization at the beginning of the year containing their outstanding balance, their contributions and withdrawals if any.

    EPF Balance last updated

    For those holding an active PF account, as soon as the contribution from you and your employer is made for the month, the account is updated. The procedure to check your updated balance is the same as checking for your balance. Listed are the steps you need to take:

    • Visit the EPF balance page - http://www.epfindia.com/site_en/KYEPFB.php
    • Click on PF balance tool button at the bottom of the page.
    • Once the new page for ‘Member Balance Information’ has propped up, select the state your PF office is located in.
    • Enter your EPF account number, mobile number and your name.
    • Click on submit after you have done so and you will get an SMS stating your balance and the full balance statement will appear on your screen, including your last contribution.

    EPF Balance name mismatch

    Occasionally, you may face problems logging into your PF account. It may state that there is an ID/name mismatch. In such cases, check if you have spelt your name correctly as stated in your PF account and retry. Next, check to see if your office or regional code has changed. Lastly, it’s most probable that the EPFO website or server is down. Try again after a while.

    EPF Balance refund

    Every contribution, withdrawal, and refund is mentioned in the balance sheet. When checking your balance on the EPFO’s member portal, everything is accounted for on your balance sheet. To check your refund, the same procedure to check your balance is followed. On checking your balance, you will see your refund claim updated on the balance sheet. Steps to check your balance and refund:

    • Visit the EPF Balance page - http://www.epfindia.com/site_en/KYEPFB.php
    • Click on PF balance tool button at the bottom of the page.
    • Once the new page for ‘Member Balance Information’ has propped up, select the state your PF office is located in.
    • Enter your EPF account number, mobile number and your name.
    • Click on submit after you have done so and you will get an SMS stating your balance and the full balance statement will appear on your screen, including your last contribution, refund, etc.

    How to download EPF Balance slip

    Subscribers to the EPF can follow the steps mentioned below to download their PF slips if they wish to have a detailed description of their EPF balance. To do so, they should follow the steps mentioned below:

    • Visit the EPFO member portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”.
    • As soon as the “member balance” option is displayed, enter the details of the PF office holding your account.
    • Type in your PF number, registered mobile number and your name.
    • Click on “submit”.
    • As soon as this is done, you will receive an SMS containing your full balance statement and the status of your account.
    • Click on download “PF slip”.
    • As soon as the PF slip has been downloaded, you can take a print out (if required).

    Steps to check PF Balance Refund

    If the subscriber has received a refund of his/her balance, they can follow the steps mentioned below to check if the refund has been deposited.

    • Visit the EPFO member portal.
    • Click on “our services” and from the drop down option choose “For employees”.
    • Click on the “PF balance” option or “member passbook”. .
    • As soon as the “member balance” option is displayed, enter the details of the PF office holding your account.
    • Type in your PF number, registered mobile number and your name.
    • Click on “submit”.
    • As soon as this is done, you will receive a text message containing your full balance statement and the status of your account.

    EPF withdrawal without employer’s signature

    Getting your employer’s signature to process a withdrawal from a PF account can sometimes be a daunting task as ex-employers can be quite in-cooperative. Thankfully, now you do not need their attestation to carry on the procedure. Here’s how you can do it:

    • Having an active UAN is a must along with your bank number and Aadhaar card number filled in the UAN database.
    • Your previous employer should have already verified your Aadhaar number.
    • Download the new forms - Form 10C and Form 31- apart from the regular Form 19 from the EPFO’s member portal.
    • Fill in your personal details in this form, your address, UAN, PAN card number, date of joining and reason for leaving, and bank account number.
    • Attach a cancelled cheque along with the form for the bank to verify your bank account number.
    • Submit the forms and cancelled cheque in your regional EPF office.
    • Make sure that your details on the form match those on the UAN database.
    • For those without an Aadhaar card, the forms need to be attested by an authority - Gazette officer, bank manager, designated member of the EPFO - before submission.

    UMANG App

    Unified Mobile Application for New-age Governance (UMANG) app was launched in November 2017 as a means of creating a common portal for all the facilities offered by the government. Additionally, other government developed programmes such as the Aadhaar and Digilocker are integrated with the app.

    Umang offers over 180 government services to its users. One of these is the services offered by the EPFO. The EPF service on the UMANG app allows users to access information about their EPF account. This service is extended to both employers and employees. Though the EPFO tab on the UMANG app, employees can file claims for EPF withdrawal as well as track the status of their claims. Some of the requirements for using this facility is having your Aadhaar linked to the app, as well as an active UAN.

    EPF customer care

    For those looking to answer queries with the EPFO, all one needs to is to access the EPFO’s member portal. Once you have done that, click on the customer care service tab on the top of the screen and dial the toll free number of one’s regional customer service.

    EPFO Digital Signature

    Since most agreements are made online now, digital signatures have become imperative to prove the authenticity of the person or an organization. The signature contains your identity - name, APNIC account name, country, email Id and your public key. In order to attest claims made on the EPFO, an employer first needs to register their class 2 and class 3 Digital Signature Certificate with the EPFO. To do so, here are the steps:

    • On the EPFO’s homepage, click on the Online transfer portal - registration of digital signatures - on the top bar.
    • On clicking on the digital certificate button, choose ‘Register certificate’.
    • Once you have done that, you will need to fill the form - Name of authorised signatory, designation and phone number. Click next when you have filled the form.
    • You will then have to choose your type of Digital Signature Certificate:
      • Sign with you USB token
      • Sign with .PFX file
      • Submit your choice and the system will run a Smart CardApplet (Java applet). Run the application.
      • Next, a message box containing the type of Digital Signature will appear. Click ‘select this certificate’.
    • Enter the PIN generated in the box and click Ok.
    • The message box will then say “Digital certificate selected successfully”
    • Click on the submit button.
    • It will then say ‘Digital Signature Generated successfully’. Take the Pdf copy and make a print out. It then needs to be submitted to the EPFO office for authentication, following which you can authorize transfer claims.

    EPFO Grievance

    To raise a grievance with the EPFO, all one needs to do is to access the EPFO’s member portal, login using their username or identification number and click on the EPFO grievance button. From there they can register a grievance, send a reminder if there is no response and check the status of your complaint.

    EPF joint Declaration Form

    A joint declaration form is issued when the wages of an employer exceed the wage ceiling limit of Rs.6,500 per month. The declaration is by both - the employer and the employee. Subscribers can download the form from the EPFO member portal or get their hands on a physical copy from the regional EPFO office.

    EPF login for employer

    For those wanting to sign in as an employer, one needs to login to the EPFO member portal and enter their unique username and password or establishment ID. In order to make transfers transparent, claims can be viewed by both the employers and employees. Employers will have to have a registered digital signature to authorise transfers and claims.

    EPF Tax Exemption

    EPF falls under a triple E (Exempt, Exempt, Exempt) tax bracket, making it tax-free for employees who have withdrawn their savings after five years of holding the account or continuous employment. For those making premature withdrawals (below 5 years), they will attract tax as under the TDS (Tax deducted at source).

    News About PF Status Online

    • Employee PF Scheme Witnesses Addition of 1.45 Crore Employees

      Employment in India reaches new heights as the Employees' Provident Funds (EPF) Scheme welcomes more than 1.45 crore subscribers during the one year timeframe through August 2018. This information has been given out by the Indian Government’s payroll data that has been released recently.

      The Ministry of Statistics and Programme Implementation (MoSPI) has started to bring out the statistics that are related to employment in India in the formal sector since the month of April 2018, covering the  timeframe of September 2017 all the way through to April 2018. This data is accessed by the MoSPI and the information essentially processes the number of users who have successfully availed the benefits under the three most important schemes namely, the Employees' Provident Fund (EPFO), Employees' State Insurance Scheme (ESIC) and the National Pension Scheme (NPS).

      According to the data released, the number of new subscribers who have joined the portal or EPF during September 2017- August 2018 stood at 1,45,63,864. Further, the data also said that approximately 91 lakh subscribers ceased to exist on the portal of the retirement fund scheme during that time frame. However, a handful of subscribers (around 18.55 lakh) who had ceased to exist on the portal have re-joined the same during that period of time. In conclusion, the EPF stated that the number of new National Pension System (NPS) subscribers during September, 2017 to August, 2018 stands at 6,89,385 individuals.

      2 November 2018

    • General Provident Fund Interest Rate Increased to 8% for Q3 of 2018-19 by the Government

      General Provident Fund interest rates have been increased by the central government. The hike is of 0.4 percentage points, taking to 8% for the third quarter of FY 2018-19. For the previous quarter, the GPF interest rate was 7.6%. The increase is in keeping with the increase of PPF schemes which saw an increase in rates on 20 September. The interest rate will be applicable to PF of central government employees, defence forces, and railways employees. The other funds that can also enjoy the benefit include the All India Services Provident Fund, the Contributory Provident Fund, the State Railway Provident Fund, the Indian Ordnance Department Provident Fund, the General Provident Fund (Defence Services), the Armed Forces Personnel Provident Fund, the Defence Services Officers Provident Fund, and the Indian Naval Dockyard Workmen’s Provident Fund.

      24 October 2018

    • High Court Ruling Comes Out in Favour of PF Pensioners

      A division bench of the Kerala High Court has completely overruled the anti-labour amendment that was introduced in the Employees Provident Act in 2014 by the Centre. This amendment targeted to reduce the PF pension amount to a bare minimum. Hence, the verdict has helped several PF pensioners realise their long-awaited dream. Henceforth, the employees will be able to increase their contribution to their PF accounts in order to receive a pension based on their salaries. Moreover, the high court has clarified the fact that the pensioners will be able to choose this option without any time constraints.

      The division bench has cancelled the order after making the observation that the amendment introduced by the Centre in the Employees Provident Fund Act in 2014 against the above-mentioned option was autocratic. The court gave its verdict after considering 507 petitions that were submitted. This also included the petition submitted by a Keltron employee, T Y Vijayakumar, in which he pleaded that the 2014 amendment was against the goodwill of the employees.

      Despite a Supreme Court ruling, the Employees' Provident Fund Organisation (EPFO) had denied the option of higher pensions to retired employees of companies and organisations wherein the provident fund (PF) accounts were managed by the autonomous trusts of the institutes instead of the EPFO. The provident fund accounts of the employees of organisations belonging to the 'exempt’ category are usually handled by the autonomous PF trusts of the institute. Public-sector companies such as NTPC, BHEL, and Keltron in addition to several private organisations like Infosys, Tata Consultancy Services, and Accenture have their own PF trust. More than 75,000 retired employees, who have been deprived of the facility to avail a higher pension by the EPFO, had submitted their petitions hoping to receive justice from the Kerala High Court. In October 2016, the Supreme Court ruled that pensioners enrolled under the Employee Pension Scheme (EPS) can opt for a higher pension if they wish to do so. Employees applying for a higher pension will be required to pay towards the differential amount between the contribution required to avail the higher pension and what they have actually paid for their account. However, this differential amount is usually minimal or offset since employees are entitled to arrears for the higher pension they were entitled to starting from the date of retirement.

      22 October 2018

    • PF pension amendment set aside by the Kerala High Court

      On Friday 12 October 2018 a Division Bench of the Kerala High Court set aside the Employees Pension (Amendment) Scheme (GSR609(E)) which have significantly lowered the pension eligibility of the employees. The verdict was passed by the Bench consisting of Justices K-Surendra Mohan and A.M.Babu. The Bench also permitted a batch of 507 writ petitions which were filed by several organisations and employees against the amendment. The petitioners stressed the fact that the order of the amendment which was issued on 22 August 2014 actually limited the maximum pension to Rs.15,000 each month. They challenged the amendment as they felt this capping on the pension amount is against the main motto of the scheme which was to provide financial support to the employees. Earlier, this amendment was made in the scheme removing a provision which permitted the employees to get pension based on their actual drawn salary if they had contributed in the Provident Fund on the basis of their actual salary and is drawn on a joint request made by the employer as well as the employee. However, after this amendment, the pension of the employees was computed by taking an average of 60 months salary in place of 12 months. According to the petitioners, this amendment has divided the employes into two different categories, employees retiring before and after September 2014.

      16 October 2018

    • PF pension amendment set aside by the Kerala High Court

      On Friday 12 October 2018 a Division Bench of the Kerala High Court set aside the Employees Pension (Amendment) Scheme (GSR609(E)) which have significantly lowered the pension eligibility of the employees. The verdict was passed by the Bench consisting of Justices K-Surendra Mohan and A.M.Babu. The Bench also permitted a batch of 507 writ petitions which were filed by several organisations and employees against the amendment. The petitioners stressed the fact that the order of the amendment which was issued on 22 August 2014 actually limited the maximum pension to Rs.15,000 each month. They challenged the amendment as they felt this capping on the pension amount is against the main motto of the scheme which was to provide financial support to the employees. Earlier, this amendment was made in the scheme removing a provision which permitted the employees to get pension based on their actual drawn salary if they had contributed in the Provident Fund on the basis of their actual salary and is drawn on a joint request made by the employer as well as the employee. However, after this amendment, the pension of the employees was computed by taking an average of 60 months salary in place of 12 months. According to the petitioners, this amendment has divided the employes into two different categories, employees retiring before and after September 2014.

      16 October 2018

    • Interest rate hike on non-government superannuation, PF, and gratuity

      After the recent hike in the interest rates of small savings schemes, the government has decided to increase the rates on non-government superannuation, provident fund (PF), and gratuity. Effective from October 1st, the interest earned under these schemes will be at the rate of 8%. Earlier the interest rate was 7.6%. On 4th October, the finance ministry had confirmed this interest rate revision under the Special Deposit Scheme (SDS) 1975. Several non-government organisations manage their own PF but they follow the investment guidelines of the government. The interest rate hike will be helpful to these organisations.

      15 October 2018

    • PF Account to Be Linked to Aadhaar if Monthly Income Less Than Rs.15,000

      As per a statement by a government official, all formal-sector workers with a monthly income less than Rs.15,000 and availing the benefits of EPS will now have to link their provident fund (PF) accounts, handled by the Employees’ Provident Fund Organisation (EPFO), with their concerned Aadhaar numbers. Under the EPFO, there are 3 schemes towards which both employers and employees can contribute - Employees’ Pension Scheme (EPS) 1995, Employees’ Provident Fund Scheme 1952, and Employees’ Deposit Linked Insurance Scheme, 1976. While upholding the constitutional validity of Aadhaar, the court has recently restricted its use to government welfare schemes which are funded by the Consolidated Fund of India. The government offers a subsidy towards EPS equivalent to 1.16% of the salary of an employee earning up to Rs.15,000. At present, more than 40 million people avail the benefits of EPS and there are over 60 million active members under the EPFO. All companies that have a minimum of 20 workers are covered by the EPFO. However, as per the new mandate, the employees who are not covered under EPS since they have monthly income above Rs.15,000, and are current subscribers of EPFO might not be required to link their Aadhaar numbers with their PF accounts. Employees joining companies after August 2018 and availing the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with their Aadhaar numbers. Under the PMPRY, the government will pay 8.33% of an employer’s share of the contribution towards schemes run by the EPFO.

      4 October 2018

    • Precision Fasteners’ Liquidator Told by National Company Law Tribunal to Make PF Dues Payment Prior to Repaying Creditors

      An order has been issued by the National Company Law Tribunal to the resolution professional managing the liquidation of Precision Fasteners which is based out of Mumbai to ensure that employees’ PF dues are paid up before it repays creditors. While the right of every other creditor over the company’s assets are property rights, workmen dues, especially PF dues, come under the Right to Life, according to the Mumbai bench of the National Company Law Tribunal. Ravikumar Duraisamy and BSV Prakash Kumar, the member judges of the National Company Law Tribunal have also told the resolution professional to ensure that the PF dues from the liquidation estate are paid off.

      1 October 2018

    • Precision Fasteners’ Liquidator Told by National Company Law Tribunal to Make PF Dues Payment Prior to Repaying Creditors

      An order has been issued by the National Company Law Tribunal to the resolution professional managing the liquidation of Precision Fasteners which is based out of Mumbai to ensure that employees’ PF dues are paid up before it repays creditors. While the right of every other creditor over the company’s assets are property rights, workmen dues, especially PF dues, come under the Right to Life, according to the Mumbai bench of the National Company Law Tribunal. Ravikumar Duraisamy and BSV Prakash Kumar, the member judges of the National Company Law Tribunal have also told the resolution professional to ensure that the PF dues from the liquidation estate are paid off.

      26 September 2018

    • PF Subscribers may have the Option of Choosing Investment Pattern

      The Labor Ministry is mulling over a policy that would give EPF subscribers the opportunity to choose the investment instruments for the funds in their EPF account. At the moment the EPFO has a cap on the investments offered.

      The new policy will give EPF subscribers the flexibility to choose from four investment categories: government securities, debt instruments, equity investments, infrastructure investment trusts, and money market instruments. The current investment pattern comprises up to 50% of the PF corpus in government securities and 45% in debt instruments. Only 15% of the corpus can be invested in equity markets and 5% in in money market instruments. The new policy would allow subscribers to choose the proportion that they would want to invest in these investment instruments based on the risk they are willing to take.

      31 July 2018

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