Friday, December 17, 2010 10:23 pm, Posted by admin 0
Employees’ Provident Fund Organisation (EPFO) is a one of the biggest statutory body under Ministry of Labour and Employment of India. Main functions of EPFO to provide compulsory contributory of Provident fund, pension and a insurance scheme for Indian Work force.
In 1952, EPFO has passed a law, According to which both employee and the employer contributes 12% of their wages, DA and other allowance to their PF fund, every month.
This fund gets added to the employee’s EPF account (Employee Provident Fund) with interest and the whole amount can be withdrawn after his retirement or occasions such as retirement, medical expenditures, housing costs, family obligations, education of children or own, paying insurance policies etc.
The EPF fund amount increases every year with the interest sum and deposited amount, if the employee ends up paying his EPF every month. Rate of applied interest is fixed by the Goverment of India
Employee Provident Fund Transfer Status OnlineActually the transfer procedure of the Provident Fund is very simple.
Employee have to intimate the current employer of his intentions to transfer the account and he would be given a Form 13. The employee fills the same up in all respect and deposits the same with the employer. Later the employer arranges to have it send to the Provident Fund office along with other deliverables for the month. One the Provident Fund office has received the form they match it with data from other organizations. From which they have received a request for the same Provident Fund account. Once that matches then the Provident Fund account is moved from under the umbrella of the old organization to the new one. The Provident Fund account number for the employee remains the same and the new employer instead of opening a new Provident Fund account for the employee continues to deposit the funds to the account number provided by the employee as his existing Provident Fund account
Check Provident Fund Transfer Status
Employee Provident Fund Get Claim Status
Login to URL furnish the below details and click
View the Original article
0 Responses to Check your EPF Employee Provident Fund Balance and Transfer Status Online