EPF TRANSFER PROCESS
EPFO undertakes multiple systemic reforms to enhance ease of doing business; improve ease of living
EPFO rules: At a review meeting, chaired by labour secretary Sumita Dawra, EPFO said the number of auto transfers generated by the retirement fund body has increased threefold from two lakh in April 2024 to six lakh in May 2024 while more than 25 lakh advance claims have been settled on auto mode.
Can you transfer EPF account from unexempted trust to EPFO, exempted trust?
EPF account transfer from unexempted trust: Many salaried individual have Employees' Provident Fund account either with EPFO or exempted trusts. However, what if you have an EPF account with unexempted trusts? Does EPF scheme rules allow an EPF member to transfer the unexempted trusts to EPFO or exempted trusts? Read on to know about it.
Faster EPF claim settlement: EPFO multi-location claim settlement to speed up member claims
Faster EPF claim settlement: By allowing for multi-location claim settlement, this feature will speed up member claims processing and replace the current geographical jurisdiction structure along with productivity in offices nationwide.
When will EPF interest be credited for FY 2023-24? Here’s what EPFO has said, 4 ways to check PF balance
EPF interest for FY 2023-24: The Employees' Provident Fund Organisation (EPFO) announced the interest rate for provident fund deposits for the 2023–2024 fiscal year in February of 2024. The interest rate for 2023–24 was raised by the EPFO from 8.15% to 8.25% from the previous year.
EPF withdrawal claim: How many days does it take to settle an EPF withdrawal claim?
Settlement of EPF withdrawal claim: Many Employees' Provident Fund (EPF) members experienced difficulties after submitting withdrawal requests from their EPF accounts. Some of them voiced concern, noting that there has been no news on the situation since making a withdrawal claim.
How to avoid rejection of EPF withdrawal claim; Steps provident fund member should take
EPF Withdrawal claim rejection: Many individuals are struggling to get their EPF money at the time of withdrawal. The reason for rejection of their EPF claim is due to mismatch in the details available in the EPFO records as well as in the EPF account holders' PAN, Aadhaar or incomplete KYC records. Here is how the EPF claim rejection can be avoided.
- Go To Page 1
Have multiple EPF account UANs? Here’s how to merge more than two UANs
The UAN is constant throughout your career; even if you change jobs over the years, your UAN will remain the same. With the use of the Universal Account Number, or UAN, one can merge their multiple EPF accounts.
Latest EPFO rules: How to unblock inoperative EPF account, settle claims
The EPFO has especially outlined the procedural complications involved in UAN generation/linking, KYC seeding, blocking, unblocking, and paying claims for transaction-less accounts and inoperative Accounts. Let us take a look at what the EPFO SOP had to say about inoperative accounts.
EPFO restricts credits, deposits into EPF accounts linked with Paytm Payments Bank from this date
The EPFO advised all its Field Offices to refrain from accepting claims associated with bank accounts in Paytm Payment Bank Limited with effect from next month.
Employers can log in to EPF portal to check on liabilities
The Employees' Provident Fund Organisation (EPFO) in India has introduced automated solutions for damages and interest calculations to improve the ease of doing business for employers. This will enable employers to check their liability towards the retirement fund body every time they log in to their EPF portal.
When will EPF interest for FY 2022-23 be credited, how to check EPF account balance
EPF interest rate for FY 2022-23: Salaried workers are required to make a contribution to the Employees Provident Fund. Additionally, an employer is required to contribute in a matched manner to the EPF account.
How to check if EPF UAN is linked with Aadhaar: Ways to link UAN with Aadhaar
If you are not sure if your UAN is linked to Aadhaar, then follow the steps below to check. Here are different ways to link your UAN with Aadhaar.
How to make changes to EPF account details: Documents required to update, correct name, gender, date of birth, marital status
The Employees’ Provident Fund Organisation (EPFO) has issued new standard operating procedure (SOP) via a circular. The new SOP will allow the EPF member to update 11 profile-related parameters.
EPFO adds 16.30 lakh members in May
Of the 1.63 million workers added in May, around 1.14 million members exited but rejoined EPFO and opted to transfer their accumulations instead of applying for final settlement
Documents you will need to submit when applying for higher pension under EPS
The Employees' Provident Fund Organisation (EPFO) issued two circulars - December 20, 2022 and February 20, 2023 - providing instructions on how to submit the application for higher pension under EPS. The circular also provides the list of documents that an EPF member has to submit along with the application form.
Formal sector workers under EPFO surge by 13.2% to 13.9 million in 2022-23
Formal sector workers under the Employees’ Provident Fund Organisation surged by 13.2% to 13.9 million in 2022-23 compared to 12.2 million in 2021-22, shows the provisional payroll data released by the retirement fund body on Saturday.
EPFO issues FAQs on higher EPS pension, but no clarity on computation
EPFO said applicants will have up to three months to provide written consent to EPFO to either draw arrears from their PF, or to deposit funds separately in case of a shortfall in their PF kitty.
Higher EPS pension: Extra 1.16% to come from employer's, not employee's contribution; Impact on pension, EPF
"It has been decided to draw 1.16 % additional contribution from within the overall 12% of the contribution of the employers into the provident fund," the Ministry of Labour & Employment stated in a press release issued on May 3, 2023.
How to pick the right nominee for life insurance, bank account, PPF, EPF, mutual funds, stocks
While a nominee is only a custodian of your assets, choosing the right one can ensure that your legal heirs get their inheritance rightly and on time.
Higher EPS pension: Is EPFO circumventing the SC order to apply for higher pension by putting impossible conditions for EPF members?
There seems to be no end to the challenges faced by the employees, who were in service on or after September 1, 2014, to ensure higher pension under EPS 95. Though EPFO has put in an online application link for employees to go for joint application with their employer however the have put in such conditions that a large number of employees may not be able to apply for higher pension.
How to ensure that correct service history is updated in EPFO records for higher pension under EPS?
The pension under Employees Pension Scheme (EPS) is calculated using average of basic salary received in last five years and service period of an employee. The service period starts from the year in which employee joined the pension and continued till. Hence, if wrong information is updated, then pension amount you will receive is wrong. Here's how you can check and correct service history in EPFO records.
Some EPF subscribers are yet to receive interest: How to check EPF interest credit status
Time and again the EPFO has assured its subscribers that its interest credit is an ongoing process. EPF who have not received their interest took it to twitter to complain.
EPFO issues circular on higher pension, clarifies which employees are eligible and how to apply
The Employees Provident Fund Organisation (EPFO) has issued a circular on December 29, 2022 on who can get higher pension and the process to apply for higher pension. The new circular is issued to comply with the instructions issued by the Supreme Court in its jdugement dated November 4, 2022.
How to transfer EPF account from EPFO to employer’s EPF trust and vice versa
While changing jobs, it may happen that your new employer runs a private EPF trust whereas old employer used to deposit the EPF money with EPFO. In such a scenario, can you transfer the EPF account?
New proposed digital law allows use of personal data without your 'explicit' consent, including by search engines
The government has proposed a new version of Digital Personal Data Protection Bill, 2022. The proposed will provide new rules related to dealing of individual's personal sensitive data by the companies. The proposed bill mentions the instances where an individual's personal data is likely to be used without asking for explicit consent. Even search engines such as Google can use your data.
Don't forget to take this EPS pension certificate after leaving your current job
When an employee switches or leaves his/her current job, then one should transfer their exisitng EPF account with the new employer (provided new employer is covered under the EPF Act). While leaving the job, an employee should also get the this pension certificate for their records. Read on to know what this pension certificate is, why you should get it and how to get it.
Transfer of EPF accounts: 17 questions answered by EPFO
Here are the 17 questions and their answers for those EPF members looking to transfer their EPF accounts from their previous employers to new employers.
EPFO guidelines: How TDS on interest will be deducted if EPF contributions exceeds Rs 2.5 lakh
EPFO has issued guidelines regarding when and how TDS on interest will be deducted if EPF contributions exceed Rs 2.5 lakh in a financial year. Further, it has also clarified the information that will be shared between the old and new employer in case of transfer of EPF accounts due to job change.
Automatic transfer of your EPF accounts on job change to happen soon
The Central Broad of Trustees, EPF has approved the development of a centralised IT-enabled system. This will help in the automatic merger/transfer of EPF accounts from the old employer to the new one.
Load More
