Employee Provident Fund Organization(EPFO)
EPFO stands for Employee Provident Funds Organization. This organization serves the employers as well as employees. Earlier, it was all manual but the government has now made all the process online. It is now possible to put in all requests with help of EPFO Portal and all this is made possible by the implementation of UAN. UAN stands for Universal Account Number and it is basically a unique number for the PF account for each and every individual working in private sector.
The EPFO portal has all the functions and information about EPF and it is quite a useful tool. Here are some of this thing that can be done with help of the EPF Portal. Let us look at some of these functions one by one.
Earlier it was not possible to check the balance of the provident fund on daily basis but now that can be done easily. It is possible to check balance through three methods. These three methods are
- Checking Balance by giving a missed call on the EPF Toll-Free
- Sending SMS to the UAN Helpdesk Number
- Checking Balance through EPFO Mobile Application
EPF Passbook and Statement
You can also download the passbook easily. Downloading the passbook can help you in following things
- Checking the monthly entries and that also helps you in determining the balance in your PF as well as Pension.
- With help of passbook, you can get to know the amount deposited by the employer on monthly basis.
- You can check the interest credited to your PF account after every period.
- If you change the PF contribution with help of your employer then you can also check if the revised amount is being credited to your account.
To download the passbook, you can click here and login using the username and the password.
EPFO PF Claim and Claim Status
You can claim your PF if you are buying a new house or if you are constructing a new house. In addition to this, it is also possible to withdraw your PF for your daughter’s marriage or in case of medical emergencies. Once you have made a claim, you will receive a claim ID and you can check the status of the claim with help of the claim ID or the PF Number.
You can click here to check the claim status with help of UAN Number. Other details about the claim are mentioned later on the page.
Transferring PF with Ease
Earlier, it was not possible to transfer the PF money from the old account to another but today, it is an automated process. You just have to fill in all the details in the form and the amount in your old PF account gets transferred to the new account. The process is really simple and it comes with a lot of benefits. Let us look at the advantages of Transferring PF
Benefits of PF Transfer
The key benefits of PF Transfer are
- You keep on earning the high interest on the funds that are parked in your account.
- The transfer is easy and there is no paperwork You can complete the process online.
- There is no deduction from the employee pension scheme like it happens in the case of EPF withdrawal.
- You do not have to pay the tax on the PF amount as the PF amount is taxable if you withdraw it before 5 years.
EPFO Payment through Online Medium
Earlier the employers had to make the EPF contribution for the employees before the 24th of every month. This process has been made easy with help of UAN Portal and it is now very easy for the employer to make the contribution, submit the documents, and make claims and monthly payments. The technology is surely helping a lot here. Employers can register the establishment and make contributions with help of the ECR Portal
Steps to Make Payment at ECR Portal
Here are the steps to make the payment through the ECR Portal. It should be noted that this section is only for the employers.
- To make the payment, the employer can go ahead and visit the ECR portal. If you would like to visit the ECR portal then you can simply click here.
- Once you have navigated to the portal, you can simply enter the details and select the bank to complete the payment.
- You will be getting a temporary return receipt number which can help you in the later stages to track the EPF Payment.
How to Register for UAN Services
To avail the UAN Services, you would first have to register for the UAN by entering some of the details. Here are more details about the same.
- You can register for the UAN Services with help of your UAN Number or the PF Number.
- If in case, you do not have the UAN or PF Number then you can also use your Pan Number or Aadhaar Number to generate the UAN Number.
- Once you have entered the details, you can then proceed by entering the details of the Mobile number and the Email Address.
- After validating the OTP, you will be able to set a password which can be used by you to login to the EPF Portal.
You can navigate to the registration page by clicking here
How to login to UAN Portal to Check Balance
Here are the steps to log in to the UAN Portal so as to check the balance in your account
- You can first navigate to the EPFO portal by clicking here. Once the page is displayed, you can look for the login button.
- Enter the UAN and the password you created previously and click on the login button. After logging in, you will be redirected to the dashboard.
- Now go to the download section and click on UAN Passbook Download. Opening the passbook will help you in checking the balance.
How to Check Balance of PF Account through Mobile Application
To check the balance of PF using the mobile application follow the steps mentioned below.
- The first step is to download and install the application on any android device.
- Once you have installed the application, you can click on the member button.
- Login with your credentials and click on Balance/Passbook on the home screen. This will display the balance of your account.
Other Services Offered by Portal
There are many other services offered by the self-service portal. Here is the list of other important requests that can be put through the portal.
- You can update your KYC with help of the Portal.
- You can Download the Passbook
- You can check EPF Balance as well.
- You can enable the SMS alert after every transaction.
- You can also transfer PF Amount without requiring the approval of HR
- You can reach out to UAN Helpdesk.
- You can track your Pension and Balance with help of EPF Application as well. In addition to this, you can check the details with help of SMS and missed call service as well.
PF Withdrawal and Transfer Process
As mentioned earlier, it is possible to transfer the PF Amount in your Old PF Account to New PF Account. The process is really simple and here is how you can do it,
- The first step of the process is to navigate to the EPFO portal. You can navigate to the site by clicking here.
- Once you have been redirected to the site, then you can click on the Employees from the Our Service Option.
- Now navigate below on the portal and click on OTPC Portal. You can alternatively click here to be redirected directly to the portal.
- Now login using the UAN and the password. Once you navigate to the dashboard, click on the Claim button and then click on Request for Transfer button.
- You will now be prompted to enter the details like Name, Mobile Number, Email ID, Bank Account Number and Bank IFSC Code.
- In the next step, you will have to enter the Account details of old PF Account. The details include.
- State and EPFO office of old Organization.
- Old PF Number.
- Date of Birth
- Member Name
- Father/ Mother or Spouse Name
- Date of Joining
- Date of Leaving
- In the final step, you can enter the details of the new PF Account. These details would include.
- PF Number
- Date of Birth
- Date of Joining
- Once you have entered all the details, verify the details and click on Confirm button. You will receive an OTP on your mobile. Validate the request by entering the OTP in the designated area.
- Now, save a copy of Form 13 and note down the Claim ID Number.
Why to Transfer EPF Online?
EPF is basically the fund for your retirement. It is a universal fact that you can’t work throughout your life and at one point in time you would have to retire. How would you meet your daily expenses after the retirement? Well EPF is the answer to it. In addition to this, if you withdraw your EPF continuously then you would not be able to save for your retirement. Hence it is highly advisable to transfer the EPF to your new EPF Account.
In addition to this, transferring EPF online is much quicker and hassle-free. You can complete the process in just a couple of minutes. While you transfer the EPF Online, you are saved from the trouble of completing the paperwork or visiting the EPFO office
Benefits of Transferring EPF Online?
The benefits of Transferring EPF Online are –
- You do not have to pay a heavy tax for your withdrawal if your service period is less than 5 years. Transferring the funds would save you from this taxation.
- You can earn the higher interest rate on your PF and in addition to this, the interest rate is much higher than the FD rates
- You can also opt for the partial withdrawal for buying a new house or the marriage and this is surely one of the greatest advantages of transferring EPF Online.
Condition for PF Transfer
There are certain conditions applicable to the PF Transfer and here are these set of conditions.
- The person should not transfer the PF to some other person’s account. The identity of the person should remain the same.
- The details entered by the employee should be correct and the transfer will only be processed if the details are matched with the details on the record.
- You can only transfer the complete amount and it is not possible for you to transfer a portion of the amount.
- Along with the PF, the pension amount will also be transferred to your new account.
EPFO Services for employers
EPFO Portal doesn’t only offers its services to the employees but it also has a section for the employers. Let us see what all services do the portal offers for the employers
- Employer can register the establishment for the EPFO Code
- ECR portal makes it possible to make payment of PF and Upload Challan
- An employer can also create UAN Number for the employees and activate these UAN Numbers.
- Employer can upload EKYC Document for the verification
- Employer can also download the complete list of Employee UAN Numbers
- An employer can verify the details of last employment of the employee.
- An employer can also upload the digital signature certificate.
You can click here to access the employer portal of EPFO.
EPFO Services for employees
We have already listed the details of services available to the employee. This basically helps the employee in achieving two major objectives.
- An employee can check if his PF is being deposited on time or not.
- An employee can register and use the EPFO Member portal services.
EPFO Member Registration
Here are the steps to complete the EPFO Member registration.
- You can start by clicking here. This like will redirect you to the employee’s portal of EPF India.
- Once the page is displayed, you can click on Member UAN/Online Service in the Services Tab.
- On the next page, you can click on Activate UAN. Alternatively, you can also click here to be redirected to the page.
- Enter the details here, you can enter one of the following details.
- UAN Number
- Member ID
- Aadhaar Number
- PAN Number
- After you have entered one of these details, you can go ahead and enter your name, date of birth, mobile number and Email ID.
- Enter the captcha code and click on Get Authorization Pin. Validate the Pin and you are now a registered member of EPF Portal. The UAN is now activated.
Checking UAN Status Online
You can also check the status of your UAN through the portal. The portal will tell you if your UAN is active or now. Here is the process to check the status of the UAN.
- You can navigate to the UAN Portal and then click on Know your UAN Status. You can alternatively click here to be redirected directly to the status page.
- Once the page is displayed, enter the following details,
- Member ID/ Aadhaar Number/ Pan Number
- Name of the member
- Date of Birth
- Mobile Number
- Email ID
- Now, enter the captcha code and request for the Authorization Pin. Once you receive the Pin, validate the Pin and the status of the UAN will be displayed.
Activating UAN Number
To avail any services from the UAN portal, you would first have to activate the UAN Number. The process is really easy and it would not take more than 5 minutes of your time. Let us now go through the steps so that you are able to activate your UAN number.
- You can start by navigating to the Members Portal of UAN for Employees.
- Once you have visited the portal, you can click on Member UAN/ Online Service and in the next step, click on Activate UAN.
- Alternatively, you can skip the above-mentioned step and click here to be redirected to the page of UAN Activation.
- Once the form is displayed, you can enter the details requested in the form and validate the form with the authorization pin.
- You will then have to create the password for your UAN so that you can login using the password every time.
- Enter the password twice along with your email ID and click on the submit button. You can now log in using these details to view the dashboard of the EPF portal.
EPFO Login for Employers
As mentioned earlier, it is also possible for the employers to log in to the portal and avails the services offered to the employers. The details of the services have already been mentioned above. Just for the information, the employer can create UAN, submit PF, upload challan and download the list of UAN for the establishment.
The employer can register for the EPF through the online as well as an offline procedure but it is certainly easy to take the online path. The online process is really quick and in addition to this, the process is hassle-free as well.
Different Schemes offered by EPFO
It should be noted that there are three types of the scheme offered by the EPFO. These three schemes are mentioned below. In addition to this, you must be aware of all these three schemes as they can help you in your retirement planning and saving for a certain goal.
- Employees Provident Fund Scheme
- Employee Pension Scheme
- Employee Deposit Linked Insurance Scheme
Benefits of Checking EPFO Status
There are many benefits of checking the EPF details and EPFO Status and some of these benefits are mentioned below
- The employee can track the savings in the fund which can help him in planning the retirement.
- The PF portal can be used on monthly basis to track the monthly transactions as well.
- The online procedure can help you in saving a lot of time as you do not have to visit the EPFO Office and all the checks can be done with help of a few clicks
EPFO Transfer and Withdrawal
Contribution to EPF is a way of tax saving but there cases when an employee might need the money and in such a case, they have an option to withdraw EPF. As per the standard procedure, the employee can withdraw money for buying or building a new house, marriage of a daughter or for any major medical expense. If an employee terminates his employment with the employer, then the employee can also withdraw his EPF but it should be noted that the withdrawal before the 5 years is taxable. The tax is not deducted if the money with withdrawn after 5 years of deposit.
It should also be noted that if you are planning to stop working for an organization and if you are planning to start a business then it is advisable for you to keep the funds in EPF for three years. The EPFO would give you interest for three years after the last deposit and the main thing is that the interest rate of EPF would also be higher than the FD rates. So it is highly advisable to keep the EPF for three years even after you quit your job.
TDS Conditions on EPFO Withdrawal
There are certain conditions when there is no tax deduction of the EPF withdrawal. These conditions are –
- The employee should have a service period of 5 years or more. The service period over here means the time when the employee worked for various organizations and this time period should be equal to or more than 5 years.
- In the last point, it should be noted that the employee should not have withdrawn the PF for these 5 years and it should be a continuous service.
- If the PF amount is less than Rs 50,000 then also there is no tax deduction on the withdrawal. Earlier this threshold was Rs 30,000 but the same was later increased to Rs 50,000.
How to Calculate EPF Tax?
The criteria on which the EPF would be taxed is mentioned above but if you are still in need of money and if you still need the PF then here is how you can calculate the tax on your PF.
- To begin with, you can download a copy of your EPF Passbook. The steps to download the passbook are mentioned above.
- In the next step, use a sheet and add the employee contribution, employer contribution, and the pension contribution. Do not add the interest part to it.
- Now find out the interest accrued on the employee contribution and you would have to subtract the interest accrued in the last financial years. Similarly, find out the interest amount of employer contribution.
- In the next step, you can open the e-filling portal of income tax and select the financial year to revise your income tax return. You can access the income tax portal by clicking here.
- In the income tax portal, you would have to increase the taxable income and the taxable income should be increased by the employer contribution the interest earned.
- Now, go to the investment column and subtract the employee contribution from the total investment amount.
- You will now be able to check the tax on your EPF withdrawal.
EPFO Claim Status
Another service offered by EPFO is checking the claim status. Yes, that is right, you can also check the status of your claims with help of the EPFO Portal. These claims can include the PF Transfer Request and Withdrawal Request. You can do all this from the comfort of your home without having to visit the EPFO Office. The technology is surely helping the population of India in saving time as well as resources.
The service is highly reliable and you get to know the status of your application in real-time. Apart from this, it should be noted that you can contact the helpdesk to check the status of the claim. All you need is the claim ID or the UAN number to check the status of any of the claim.
How to Check EPFO Claim Status
Follow the steps mentioned below to check the EPFO Claim Status
- The first step is to navigate to the employee portal of EPF India. Once the page is displayed, you can navigate to the service menu and click on Know Your Claim Status.
- Alternatively, you can click here to be redirected directly to the page to check the claim status with help of UAN.
- You can then enter your UAN number and the status of your claim will be displayed on your screen.
EPFO Login Registration members
All the EPFO Members can check their registration details online and with the help of the portal, they can also check the details of the pension amount and the PF amount accumulated in their account. This helps them in planning their retirement and the portal also enables the new member to make a registration. The portal also supports a voluntary PF contribution which can help you in increasing the PF amount that is deposited by you every month.
This is surely one of the most important parts of the employer’s fund as it can help him in the altelaterr years of life.
Steps for EPFO Registration
Follow the steps mentioned below for EPFO Registration
- You can register the new members of your organization with help of their mobile number. It is also possible for the employer to upload the challan on the EPFO Portal.
- The employee can also transfer the funds of the previous employer to the new employer and this helps him in saving tax and in addition to this, he can earn interest on these funds as well.
- The employee can register for the EPFO portal by simply going to Activate UAN link. This will help him in activating the account and performing various operation available to him.
- During the registration, the employee would have to validate different details along with the phone number and the employee would also have to create a login password.
Other Important Information
- It should be noted that the government is offering the interest rate of 8.4% on the EPF Deposits.
- In case of the early withdrawal, the employee is taxed at 10% if he has submitted a copy of PAN to the EPFO and similarly, the tax rate is 20% if the employee has not submitted a copy of EPFO.
- If you have just activated your UAN then it would take at least 6 hours for you to be able to download the passbook of your account.
- The employee also gets a bonus of up to Rs 50,000 for his contribution for more than a period of 20 years.
- If the employee dies then the EPFO grants a sum of Rs 25,000 to the employee’s family
- There is also an insurance of Rs 2.5 Lakh to Rs 6 Lakh for the dependent family of the employee after his death.