Employees’ Provident Fund Organisation is the retirement fund body that allows employees to withdraw amount from the employee EPF account.
For people wondering what EPF is, it is an organization with the full form Employees’ Provident Fund Organization. It works under the government of India as the ministry of labor and Employment. There are many services offered by the organization such as Employees’ Provident Fund Scheme, 1952 under which an establishment made by 20 or more people is considered. In this, the employee gets an amount after retirement that is an addition to his and the employer’s contribution including interests. Employees’ deposit linked insurance Scheme 1976, is the second of the services offered by EPFO which deals with the insurance
Track Claim Status using UAN: Universal Account Number (UAN) holds vital importance for all the employers as well as their employees who contribute to the Employee Provident Fund (EPF) on a monthly basis. The 12-digit UAN is unique for every employee who remains unchanged throughout their lifetime. With the help of this UAN, you can track EPF withdraw status. Employees can have multiple member IDs in accordance with the number of jobs they get into. All these IDs will be linked to their UAN which ease the entire process of EPF payments and withdrawals. The good news is that all
EPF (Employee’s Provident Fund) is a well-known scheme that provides enormous benefits post-retirement to salaried employees. The UAN (Universal Account Number) acts as the unique member ID that is allotted to each and every individual who is a part of this scheme. As a norm, both the employee as well as the employer is required to contribute a specific amount to reap its profit in the future. The percentage is decided upon by the government and is usually 12% of the salary being paid to the employee. For keeping track of all the funds and payments, the members have an
Know EPF Claim Status Online: Every working individual wants a secured life after retirement so that they can take care of their health and other requirements without depending on anyone else and lead a comfortable retired life. So they make every effort to save enough for those days. EPF by Employees Provident Fund Organization (EPFO) under the Ministry of Labour and Unemployment helps in achieving that goal in a structured manner. What is EPF? Employees Provident Fund is a saving scheme for the working class that has its perks only after the person retires. A part of the employee’s salary,