Tuesday, May 14News That Matters

PF

PF Name change form, Date of Birth, Address correction & update process – Online  and Offline

PF Name change form, Date of Birth, Address correction & update process – Online and Offline

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Many PF members face challenges at the time of PF transfer or PF withdrawal due to errors in the name, date of birth etc. Have you faced similar issue? Do you want to change the name or date of birth in your PF account? Have you changed your surname after marriage and the new name is in bank account but not in PF account? In this post, I am providing more details around process and form to change and update your details in PF account – Name, Date of Birth, Communication Address, Email account, Mobile Number etc.   A.  Change of Name in EPF Account - Online Method - New You can now apply to make changes online and you need following: 1. Active UAN,  2. Access to EPFO's Unified Portal website,  3. Aadhaar number,  4. Employer needs to forward the request online to EPFO.  Step by Ste...
How to update KYC for your EPF and UAN?

How to update KYC for your EPF and UAN?

How to Series, PF
Sicne EPFO has launched Universal Account Number (UAN), a number of PF related processes (transfer, withdrawal, balance check etc) has been made online. Each PF subscriber should have a UAN alloted. To fully utilise the services online, it is important that you upload your KYC documents on UAN portal. The process to get the KYC updated is very simple as below. How to update or upload KYC details in EPF UAN Login to Member e-Seva Portal   using your UAN and password Under "MANAGE" --> Click on KYC You can enter the KYC details - bank, PAN, Aadhaar, passport, Driving License, Election Card, Ration Card and National Population Register Once you save the changes made by clicking the save button, your data will be saved under the “Pending KYC” section Your details are the...
How to withdraw PF (advance) due to Corona virus crisis?

How to withdraw PF (advance) due to Corona virus crisis?

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Govt has recently allowed to withdraw your PF early to help employees in Corona virus crisis., You can withdraw upto 75% of your saving. Read full details. In general circumstances,the EPFO allows account holders to take “non-refundable advance” or withdraw for specified purposes only such as a medical emergency, marriage, higher education or purchase of a house. See details in which scenarios normally you are allowed to withdraw early. But now you can withdraw due to Corona virus impact as well. How can I submit the request to withdraw my PF balance (take advance) You can submit the request online. To avail this facility, you should have UAN and Aadhaar and Bank number seeded in the EPFO database. See the details below as to how you can submit the withdrawal request online: Lo...
[How to] check PF balance online in India (5 ways – UAN, SMS, Missed Call, App)

[How to] check PF balance online in India (5 ways – UAN, SMS, Missed Call, App)

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EPFO (Employees Provident Fund Organisation) provides option to check you PF balance online. Once you enter your details, you will get your balance via SMS on your mobile number. Whether you want to check your PF balance for Delhi,  Gurgaon,  Noida, Hyderabad, Bangalore, Chennai, Gujarat, Mumbai, Andhra pradesh, Pune, Karnataka, Kolkata etc,  you can use the steps below to get your balance via SMS. Please note that some big organizations have their own PF trust and they do not keep money with EPFO. In such cases, you cannot check the balance online by using EPFO portal.  You need to contact your HR to know your PF balance. How much money goes in your PF Account? Employee Contribution – 12% of your Basic Employer Contribution – 12% of your Basic ( Out of this 8.33%...
How to activate or check PF UAN status online

How to activate or check PF UAN status online

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In this post, I will explain how can you get your EPF Universal Account Number (UAN) online and how to check or activate or register your UAN and how to check the UAN status online. Also, I will explain how to check the PF Balance online using UAN.   What is PF Universal Account Number (UAN)? Universal Account Number (UAN) is unique 12 digit “portable” number allotted by EPFO to its members. You will be able to check your employee provident fund balance, download PF passbook, receive monthly credit updates/alerts and even transfer funds from old accounts to existing account. How to check your PF UAN Status Your UAN is readily available with employer. You need to take the UAN number from employer and then activate it at the link provided below Go to the UAN portal -...

Pradhan Mantri Vaya Vandana Yojana (PMVVY) – LIC Senior Citizen 8% Assured Pension Scheme Review – Should you invest?

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LIC or Life Insurance Corporation operates the government's 8% pension scheme for senior citizens, which is called Pradhan Mantri Vaya Vandana Yojana (PMVVY).  It is a pension scheme meant for senior citizens, offers a guaranteed interest rate of 8%. Minimum Age of Entry: 60 years Maximum Age: No Limit Key Features of this scheme  (LIC Plan No, 842   UIN - 512G311V01) Assured return of 8% per annum payable monthly (equivalent to 8.30% per annum) for 10 years Duration - 10 years Can be purchased online or offline Maximum Investment amount is Rs 15 lacs (increased from Rs 7.5 lacs in Budget 2018). LIC started offering the PMVVY scheme from May 2017. The PMVVY scheme was supposed to remain open for subscription for one year. Now, with the proposed extension, it scheme will...

Online PF withdrawal facility started – Details & Process

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From 1st May 2017, EPFO has launched facility to apply for PF withdrawal online. Previously, you could check the PF balance and apply for PF transfer online, and now you can withdraw PF online as well. This will be huge benefit for the PF subscribers. Details & Features of online PF withdrawal facility Members will be able to withdraw full PF amount, partial PF amount and pension.  The three forms – Form 19, Form 31, and Form 10-C — together form more than 80% of EPFO’s claim workload. Online PF withdrawal can be done only by members who have activated their Universal Account Number (UAN) and have also seeded their Aadhaar-linked KYC. Direct Claims:  You can make PF withdrawal claim directly. You donot need to interact with employer or PF Officer. Claims subitted will be proc...

How to transfer balance from EPF to NPS – Should you transfer?

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PFRDA has now notified the procedures (on 6th March 2017) through which EPF members can transfer their PF balance to NPS (New Pension System). In Budget 2016, one of the proposals  was to provide one time portability or transfer option from EPF to NPS. In this post, we will focus on procedures to transfer balance from EPF to NPS, current hurdles and whether it makes sesnse to transfer?  Requirements and Process for transferring EPF to NPS You need to have a NPS Tier 1 Account. You can open NPS account through employer, banks/entities registered as PoPs, or online through eNPS Portal. You need to submit the transfer form to your employer who will then initiate the balance transfer from EPF to NPS The employee should request the PF/Superannuation fund to issue a letter to his presen...

New Unified EPF UAN Portal – access PF passbook, UAN, KYC etc

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EPFO launched new unified UAN portal for Employees and EPF employers in Dec 2016. In this post, we will see the features and benefits of New Unified EPF UAN Portal. New Unified EPF UAN Portal will provides features as follows: Download and Print your updated EPF Passbook anytime Download and Print your UAN Card Check and Update your KYC Status Change your Mobile Number and E-mail ID You can login to the new unified UAN portal on https://unifiedportal-mem.epfindia.gov.in/memberinterface/  using UAN number and password. Sometimes, you might get error as the website is sometime encounter technical issues - because of heavy load on website.  If your password is not working, you can choose "Forgot Password" Option. If your mobile number has changed, my other post will be helpful - H...

List of Banks authorised for PPF Account

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In my last post, I explained the features & benefits of PPF Account. Read More In the past you could have open PPF Account with Post office or State Bank of India or few other PSU banks. But now, there are may banks which are authorised to open PPF account. So ,  you can open or transfer PPF account to your nearest bank. Note that only designated branches of these banks are authorised to open PPF Account ( not all branches), so it is better to check with the Branch first. List of Banks offering PPF Account Canara Bank PPF Account https://www.canarabank.com/english/scripts/ppf.aspx SBI PPF Account https://www.sbi.co.in/user.htm UCO Bank PPF Account https://www.ucobank.com/other-services/ppf-schemes.aspx PNB PPF Account https://www.pnbindia.in/en/ui/content.aspx?id=115...