Sunday, April 14News That Matters

PF

[How to] transfer PF Acount Balance online

How to Series, PF
 From Oct 2013, You can apply for transfer of your EPF account from one employer to another employer ONLINE using EPFO OTCP (online transfer claim portal). The process of applying for PF transfer online is simple : Check eligibility for online transfer  (at least one of the employers should  have their digital signatures registered with the EPFO) Register yourself as a member at EPFO site, Fill up the online transfer form—Form 13—and Submit it for attestation with the employer that has registered its digital signature. After your details are verified by your employer, EPFO will process your transfer. Steps for applying for PF Transfer Online 1) Check your corret PF Account number Some employees have old PF number written on payslips, So check the new PF employer codes at link...

[How to] withdraw PF Balance

How to Series, PF
When can I withdraw my PF Balance ? As per PF rules, when you switch job, you only have ONE option – “TRANSFER to new Employer PF Account”. PF withdrawal is only allowed, if you are unemployed for at least 2 months. However, many employees withdraw money from old PF Account just by declaring that they are out of job for 2 months. They submit the withdrawal form after 2 months of leaving the last employer. As the PF data is not centralised, or no unique PF ID number is in place, it is difficult for them to track whether the employee has joined another company. [How to] Check PF Balance online [How to ] apply for PF transfer online Steps to withdraw PF Balance at time of resignation To withdraw your PF and Pension after leaving employment, you need to fill and submit two forms - Form 19...

New EPF Form 11 – Employee Declaration form & Replacement for EPF Form No. 13 (PF Transfer)

News, PF
When you change our employer, then you need to submit 2 forms - Form No. 11 (Declaration form) and Form No. 13 (for PF transfer from old EPF account to you new EPF account). However, EPFO has recently (23-Sep-2016) issued a notification which requires to submit one form only - new EPF Form 11. The new Form 11 is a one page declaration form and a simplified version of the existing Form 11. You do not need to submit Form 13. As per the notification, the Declaration Form (New Form No. 11) will replace Form No. 13 in all such cases where existing EPF member makes a request for transfer of his fund availing the facility of UAN (Universal Account Number). So, if you have UAN number allotted and your KYC details are verified by your previous employer, you can just submit new EPF Form 11 to your ...

[How to] download PF statement (e-Passbook) online

How to Series, PF
EPFO is now providing facility to download your PF statement online. You donot need to wait for year end to get the PF statement. You can also check your PF balance via SMS using their on line facility. Read post PF ePassbook It is an Online PF statement which shows details of PF transactiosn monthwise.  It is available to Active members only (not for settled, inoperative accounts). Register online on EPFO Site https://members.epfoservices.in/ Enter your mobile number, Date of Birth & Select one of the following Document Number & then Click on "Get PIN" PAN AADHAR BAnk Account Voter ID Driving Licence Passport Ration Card National Population register You will get a PIN number on your mobile. You need to get a new PIN everytime when you access the details. Poin...

[How to ] withdraw PF early during employment (pre-mature withdrawal) ?

How to Series, PF
Money in your PF account should be kept for your retirement purpose. However, do you know that you can withdraw amount from your EPF account during the employment in case of certain emergencies? If you meet certain conditions, EPFO can sanction the pre-mature withdrawal. In this post, I am trying to explain the situations where you can withdraw PF amount early during the employment. Pre-mature PF withdrawal is allowed for specific purposes and if the individual furnish all relevant documents and satisfy the necessary requirements: 1)  Two months without any job An employee can withdraw his/her entire EPF contributions 2 months after leaving a job. However, there is a condition that the employee shouldn't start working elsewhere in that period. If another job is taken up within two months...

[How to] access UAN when mobile number changed

How to Series, PF
If you have forgot your UAN password, you can access your reset your password by using UAN and registered mobile number. https://uanmembers.epfoservices.in/forget_pass_uan.php However, if you loses your mobile number or change your mobile number then it is difficult to access UAN. A. Online Option EPFO has provided new link for UAN helpdesk https://59.180.231.60:9091/UANHD/ https://www.epfindia.gov.in/site_en/ https://www.epfindia.gov.in/site_en/For_Employees.php?id=sm2_index You need to select the problem type as "Forgot password and Mobile number is changed" Ente the details like new Mobile number, UAN, Name,Father name, Date of Birth. After the submission, you will get an OTP for the verification. Give the OTP and submit the form. This will generate an application ID. Keep it with y...

How to transfer PPF account from one post office to another?

PF
If you have PPF account in one post office and want to transfer it to another post office, then this post will be useful for you. Many people relocate to different cities because of new jobs, transfer etc.  They may have PPF account in post office in other cities and it is difficult for them to maintain those PPF Account.  So the best option is to get your PPF account transferred to your current city to your nearest post office. The process of PPF transfer is simple as below: 1) Fill in Form SB 10(b) - You need to fill an application for the transfer of PPF account from one post office to another post office.  Download pdf form SB 10(b) for PPF transfer -  sb010b-ppf-trasnfer-form 2) The application should be submitted to the old post office  with details of account number, balance in the...

[How to] withdraw PF amount without previous employer’s signature

How to Series, PF
Are you in situation that you want to withdraw your PF Account balance but cannot take previous employer's signature : you left the company without proper notice period & now previous employer not signing your EPF Withdrawal documents you left company long back your previous company is closed or any other reason You can still withdraw your PF amount without signature from your previous employer. 1. Fill the required forms -   Form 19 (for EPF withdrawal) and  Form 10C (for EPS Withdrawal) 2.  Get it attested by any one of the following :     Bank Manager  (preferably PSU and where you have an Account)     By any gazetted officer.     Magistrate / Post / Sub Post Master / Notary 3. Simple indemnity letter on Rs 100 stamp paper 4. Simple affidavit that you are curre...

No TDS for PF withdrawals of up to Rs 50,000

News, PF, Taxation
The government has now changed the rule on  TDS deduction on PF withdrawal. Now, no tax would be deducted at source for PF withdrawals of up to Rs 50,000 from June 1 2016. So no TDS if your withdrawal is upto Rs 50000. The Finance Act , 2016 has amended section 192A of Income Tax Act, 1961 to raise the threshold limit of PF withdrawal from Rs 30,000 to Rs 50,000 for Tax Deducted at Source (TDS)," the notification stated. The provision will come into effect from June 1, 2016. Earlier in the budget, the government had introduced the proposal to deduct TDS on PF withdrawals in order to discourage pre-mature withdrawal and to promote long term savings. Current Applicable provisions TDS shall not be deducted in case of  1) if employee withdraws PF after a period of five years  2) transfer o...

Inoperative PF accounts will earn interest from April 1, 2016

News, PF
From April 1 2016,  EPFO has again decided to give benefit of accrual of interest on the inoperative PF accounts. The board has reversed the decision taken in 2011. This will benefit a large section of the estimated nine crore inoperative accounts of subscribers switching jobs. EPFO has estimated that over Rs 30,000 crore is stuck in these inoperative accounts. Inoperative EPF accounts are those where there has been no contribution from either the employee or the employer for 36 months. The decision not to give interest on these accounts was taken in 2011 to persuade employees to withdraw their money or merge it with active accounts. However, it is not clear whether the members will get the interest from 2011 to 2016 or not?