Update: Change in PF regulations amidst COVID outbreak: The government will make EPF contributions of 12% on behalf of the employer and the employee for the month of June, July, and August. The statutory limit for contribution to PF is being reduced from 12% to 10% for employer and employee for the next three months(month of June, July, and August) for all registered establishments. This article explains how one can check PF balance online. Checking PF bala..
What is UAN? No one can deny the benefits that Provident Fund(PF)has to offer. The provident fund of all employees is managed by the Employees Provident Fund Organisation (EPFO). The EPFO allots each individual a 12-digit Universal Account Number which allows them to link multiple Member IDs to the same UAN. Thus, when an employee changes his job, his Member ID will change but he will be able to link all Member ID’s together. This helps him to view all the details of his PF account unde..
In the view of the outbreak of COVID-19, the government of India to provide financial aid to people has allowed members covered under the EPF Scheme to withdraw PF balance and is contributing to the PF Fund on behalf of the employer as well as employees. Services like withdrawing EPF can be availed online on the EPFO Portal. However such services can be availed if the UAN(Universal Account Number) of the Employee is activated and is KYC Compliant. Employees' Provident Fund Organization, Indi..
Update: Union Labour Ministry notifies amendment in EPF Scheme to allow withdrawal of non-refundable advance by EPF members in the event of outbreak of pandemic EPFO directs its field offices to process claims promptly Union Ministry of Labour and Employment has issued notification GSR 225(E) amending EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members/subscribers in the wake of COVID -19 pandemic in the country. The notification permits withdrawal of upto the a..