PF Related info

Dear Team,

Can you please share PF related info-

  • how is PF share distribution happens - employee share, employers & pension part of it. What amount goes where & how much ?
  • What the function of pension part ? when & how does i gets benefit with it ? when it gets applicable & how ?
  • if i leave the company before pension gets applicable, what is the total share i am able to withdraw ? (employee share + what % of employer share) ? pl help me with percentage numbers, not a generic explanation
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Hi,

  1. PF Distribution is as follow:
    EPF Account: Employee PF-12% +Employer PF-3.67%
    Employer Account:
    Pension A/c: 8.33%
    EDLI A/C:0.50%
    PF Admin Charges:0.50%

  2. Pension A/C of 8.33% will be applicable once you attain superannuation at the age of 58years. You will be applicable if you are a EPF member . It is not applicable only in case if you were never be a part of EPF previously and your basic is more than 15000/-.

  3. There is nothing called before pension gets applicable . It will be applicable once you become a EPF member. If you leaving the company before completing 6 months then you will only get Employee PF of 12%+ Employer PF 3.67%.

I hope i have answered all your queries.

Regards
Arpana

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APPLICABILITY FACTORY OR ESTABLISHMENT WITH 20 OR MORE EMPLOYEES
EMPLOYEE PF CONTRIBUTION 12% OF WAGES
EMPLOYER PENSION CONTRIBUTION 8.33% OF WAGES; MAX UPTO 1250
EMPLOYER PF CONTRIBUTION 12% OF WAGES MINUS EMPLOYER PENSION CONTRIBUTION
EMPLOYER EDLI CONTRIBUTION 0.5% OF WAGES; MAX RS 75
EMPLOYER ADMIN CHARGES 0.5% OF WAGES
SALARY LIMIT EMPLOYER CAN USE THE WAGE CEILING OF 15000 FOR BOTH
EMPLOYER CAN USE THE WAGE CEILING OF 15000 FOR EMPLOYER CONTRIBUTION & EMPLOYEE CONTRIBUTION CAN BE FULL
BOTH THE CONTRIBUTIONS CAN BE @ FULL WAGES
WAGES BASIC, DA, OTHER FIXED ALLOWANCES
EXCLUDING - ‘OVERTIME ALLOWANCE, BONUS, HRA, COMMISSION, ALLOWANCES WHICH ARE VARIABLE IN NATURE, WHICH ARE LINKED TO OUTPUT, NOT PAID ACROSS THE BOARD’
EMPLOYEE PF NUMBER MH/BAN/0057885/000/0000691
MH REPRESENTS THE STATE, I.E., MAHARASHTRA
BAN REPRESENTS THE REGIONAL OFFICE, I.E., BANDRA
THE NEXT 7 NUMBERS, I.E., 0057885 REPRESENTS THE ESTABLISHMENT ID
THE NEXT 3 NUMBERS ARE ESTABLISHMENT EXTENSION ID. IT CAN BE 000 IF NO EXTENSION IS PROVIDED.
THE LAST 7 NUMBERS, I.E., 0000691 REPRESENTS THE MEMBER (EMPLOYEE) ID.
UAN NUMBER UAN STANDS FOR UNIVERSAL ACCOUNT NUMBER TO BE ALLOTTED BY EPFO. THE UAN WILL ACT AS AN UMBRELLA FOR THE MULTIPLE MEMBER IDS ALLOTTED TO AN INDIVIDUAL BY DIFFERENT ESTABLISHMENTS. THE IDEA IS TO LINK MULTIPLE MEMBER IDENTIFICATION NUMBERS (MEMBER ID OF DIFFERENT EMPLOYERS) ALLOTTED TO A SINGLE MEMBER UNDER SINGLE UNIVERSAL ACCOUNT NUMBER
KYC REQUIREMENT AADHAR, PAN, BANK DETAILS MANDATORY
FORMS FORM 5A - RETURN OF OWNERSHIP
FORM 2 - NOMINATION FORM FOR EPF & EPS
FORM 13 - PF TRANSFER
FORM 19 & 10 D - PF & PENSION WITHDRAWAL
FORM 31 - PF ADVANCE
LINK: HTTPS://UNIFIEDPORTAL-MEM.EPFINDIA.GOV.IN/MEMBERINTERFACE/
ECR & REMITTANCE BEFORE 15TH OF NEXT MONTH
BENEFITS SAVINGS FOR RETIREMENT
INTEREST BENEFIT
LOAN/ADVANCE FOR MARRIAGE, EDUCATION, ILLNESS, HOUSE PURCHASE
DEATH BENEFIT OF LUMPSUM AMOUNT (UPTO RS. 6 LAKHS)
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