EPFindia.gov.in – The Employees’ Provident Fund Organization (EPFO) is becoming tech-savvy day by day. Presently it is planning to go paperless. It implies all the EPF related administrations would be on the web. The EPFO, which runs government-managed savings plans like EPF (employees’ provident fund), pension as well as insurance for formal sector workers, has just launched a large group of online administrations like EPF withdrawals; check EPF balance, transfer EPF and more. This will be a major boom for the formal sector workers as well as in addition their employers. The online office would assist the EPFO to get rid of the public interface for decreasing odds of corruption and public harassment.
The EPFO has set an objective of August 15, 2018, to change itself into an electronic, paperless organization. Indeed, EPFO is reliably going towards becoming digital. It has officially discarded paper forms and records in quite a lot of cases. Presently there are not very many services which require paper.
You might know that EPFO oversees EPF scheme alongside the EPS and EDLI. EPF is a retirement saving plan while EPS is a benefit and EDLI is an insurance scheme. All these three plans run together. Each worker who earns below INR15,000/month as basic pay needs to become a member of these plans. It is obligatory to them.
To accomplish this EPFO has taken different authoritative and specialized initiatives toward this end. In addition to other things, it has ordered that online cases must be petitioned for PF withdrawals above Rs 10 lakh. It additionally said that documenting on the web claims for withdrawals of above Rs 5 lakh under the Employees Pension Scheme 1995 is currently an indisputable requirement.
Here are other activities proposed by the EPFO to meet its digitization target by Independence Day. These must be completed by all its Field Offices.
#1 It is proposed to have a campaign for going without paper amid the following two months, in particular, March and April Amid this period, the spotlight will be on checking Aadhaar for the individuals so all claims are received online doing away with paper-claims.
#2 Establishments might be ordered to get every one of the claims of workers filled through the online mode.
#3 Form 9 of individuals is to be made online with appropriate approval as indicated by the directions already published in this regard.
#4 All e-Court cases will be prepared through totally electronic recording framework staying away from physical documents.
#5 E-Office programming usage and preparing of regulatory records in the electronic configuration will be finished in every one of the offices.
Present paperless services of EPFO
As of now, you can perform all the tasks online as mentioned below:
Check EPF balance
EPF balance check is additionally paperless. The workers used to get an EPF account status slip every year. Be that as it may, now, they can check EPF account balance from numerous points of view. Every one of the strategies for EPF balance check does not entail any form or paper.
EPF transfer has turned out to be online since 2013. Presently, it happens automatically. When you join a fresh job, your current UAN (Universal Account Number) number links to your new EPF account with old EPF account, subsequently, EPFO, itself shifts the balance from one account to another.
EPF account requires address confirmation, Identity verification, bank account number and PAN of the worker. Be that as it may, numerous employees did not present these records. Presently, you can submit KYC reports online specifically to the EPFO. It is conceivable through the UAN member portal.
You can transfer EPF passbook online. You need not go to EPF office to get the EPF statement. It is constantly accessible on the web. Your EPF passbook gets updates as the contribution sum is deposited.
The UAN and Aadhaar connecting have made the EPF withdrawal online. Presently you can without much of a stretch get cash from the EPF account. You can apply online for EPF withdrawal from the UAN member portal. Nevertheless, this administration is accessible just on the off chance that you have connected your Aadhaar with UAN.
Withdraw part EPF
You should know that you can withdraw some amount of cash from the EPF account. Notwithstanding, the purpose behind withdrawal ought to be one of the predetermined reasons. Earlier you needed to create documents to support your reason. Nevertheless, presently an online form is adequate to get EPF cash. You need to just tick on the declaration.
In the event that you have any objection with respect to EPF, you can document it on the web. The EPFO has made a different portal to obtain the grievance. You can check the status of grievance online.
Alter mobile number plus Email
You can likewise change your mobile number, email and address online. It is feasible through the UAN member portal.
The most important advantages that EPFO assures to its subscribers are:
1) Both the employer as well as employee contributes 12 % of basic pay towards EPF. While 12% of a worker’s basic pay goes towards the EPF kitty, 8.33% of the 12% of the employer’s contribution is invested in the EPS or pension scheme. The balance 3.67 % goes to the EPF kitty.
2) The employee earns interest on the accumulated PF which is not taxable. EPF account keeps on earning interest regardless of whether it has been inoperative for more than three years.
3) Under the Employees’ Deposit Linked Insurance Scheme, an insurance coverage to the tune of Rs 6 lakh can be claimed by the survivor of the deceased.
4) On the eve of Diwali, EPFO revealed the connecting of Aadhaar with UAN for “better and quicker EPFO services” to members. This makes transferring PF while changing from one company to another less demanding.
5) Form 11 is now being replaced by Form 13 in all instances of auto transfer. EPFO accounts must be connected with Aadhaar card, as commanded by the government.
6) EPFO subscribers can likewise avail the site in addition to the application for checking their PF balance. They can withdraw PF for buying or building of the house, repayment of home loan, sickness, higher education, marriage and so forth.
Throughout the years EPFO has found a way to make PF claims settlement process smoother. Further ahead in the coming years, if EPFO achieves its digitization objective, it will particularly address the issues of the younger age group who are constantly on the move.