Professional Documents
Culture Documents
What is EPF?
EPF is Employees Provident Fund. Both the Employee and the Employer contribute
to this fund.
This is a Fund maintained by the EPF Organisation. The Central Board of Trustees
(CBT) of this organization is the body which controls this organization. It has
representatives of Employees, Employers and the Government. The fund is managed by
the CBT.
Is it safe?
There are three benefits to the members of the fund. One is the benefit of Provident
fund saving with interest. Second is pension. The third is deposit linked insurance.
The balance contribution of the employer will go to the Employees Pension Fund.
The central Government also contributes at the rate of 1.16% to the Pension Fund. The
employee need not contribute anything to the Pension Fund.
The employer will contribute 0.5% of the emoluments to the EDLIS. Employees are
not required to contribute to the EDLIS.
The balance in the EPF can be seen from the annual account slip issued by the EPFO
to each member.
One can withdraw some amount from his EPF for some specific purposes only. The
purposes for which such withdrawals and loans can be availed and other conditions are as
follows:
• Marriage / Education
• Treatment
• Purchase of Plot
• Addition/Alteration of House
• Repair of House
• Lockout
• Other Advances
• Notes
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para For the marriage of: Should 50% of Apply in Form-31
68-k of the complete Employee through the
Scheme atleast 7 share at the Employer
1. self years of time of
2. son, daughter service. tendering Bonafide
the Certificate duly
3. brother, sister
3 times in application indicating the fees
the entire payable from the
For education of :
service educational
o self institution
o son, Marriage
For Treatment
2. suffering
from TB,
leprosy,
paralysis
, cancer,
mental
derange
ment or
heart
ailment
• should
not be a
Apply in Form-31 joint
property
owned
by other
than the
spouse
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para 68- Repayment of • Should complete 36 times of Declaration in
BB of the housing loan 10 Years of Wages the Proforma
Scheme service obtained with
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para For the 24 times of Filled-up
68-B of the purchase of • Should complete Wages Declaration(from
Scheme site/ plot 5 Years of the Employee in
service the prescribed
• Only once in form and
Only Once service enclosed with the
• property should application.
be registered in
the name of self Copy of the
or spouse or Purchase
jointly Agreement
• should not be a
joint property
owned by other Apply in Form-31
Addition/alteration of house
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para Addition/alteration • Should complete 12 times of Certificates of
68-B(7) of of house 5 Years after Wages proof
the Scheme (same type of construction
advance can be • Annexure III Apply in
availed for repair of (construction / Form-31
Only Once house) completion through the
certificate/ Employer
Apply in utilisation
• should not be a
joint property
owned by other
than spouse
Repair of house
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para Repair of • Should complete 12 times of Certificates of
68-B(7) of the house 10 Years after Wages proof
Scheme (same type of construction
advance can • Annexure XIII Apply in Form-
be availed for (construction 31 through the
Only once alteration of completion Employer
house) certificate) should
be submitted
• Only once in
service
• property should
be in the name of
self or spouse or
jointly
• should not be a
joint property
owned by other
than spouse
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para 68- Lockout or • No minimum equivalent to Declaration
H of the closure of the service the total of
Scheme establishment • should be closed wages Apply in Form-
• Balance should
be there in
Employee's
share. If closed
for more than 6
months,
advance can be
allowed from
Employer's
share also
Maximum Proof/
Type of
Purpose Eligibility Admissible documents
Advance
Amount** required
Under Para 68- Withdrawal • No minimum 90% of total of Certificate from
NN of the prior to service both shares the employer
Scheme retirement • atleast 54 showing the
Other Advances
Documentary
Types of Benefit Eligibility Eligible Amount Form
Support
Grant of advance · Certificate of Rs. 5000/- or 50% of No.31 Certificate from the
in abnormal damage from member’s own share Appropriate
conditions, Natural appropriate of contribution (To Authority.
calamities etc. authority. apply within 4 months)
· State Govt.
declaration.
Eligible Documentary
Types of Benefit Eligibility Form
Amount Support
To Physically Production of Basic wages+ No.31 Certificate from the
Handicapped medical certificate DA for six Medical practitioner
member for from a competent months to the effect that the
purchase of an medical practitioner or own share of member is physically
equipment required to the effect that he contribution with handicapped..
to minimize the is physically interest or cost
hardship on account handicapped of equipment
of handicap. which ever is
least.
**Notes
· The amount of advance/withdrawal is not required to be refunded under normal
circumstances. If the amount is not utilised, the same should be refunded with penal
interest
· A fixed minimum balance in the account will be kept before arriving at the amount of
advance admissible subject to the above conditions
· For calculation/ computing the period of membership U/P 68B, 68BB, 68K, total
service exclusive of periods of break under the same employer before the scheme is
applied to him, as well as period of membership of the fund is always included
Withdrawal of the entire balance or final settlement can be made on certain events. In
some cases the application for it can be made immediately and in certain cases after two
months of the event. These are as below:-
Can it be transferred?
Yes, the fund can be transferred on certain occasions, such as when an employee
leaves one job and joins another. In such cases a new account number is allotted. The old
balance can be transferred to the new account. Apply in From-13(R) through the NEW
Employer at the EPF Office from which transfer is sought. Clearly state New and Old EPF
Numbers. New EPF Number will be allotted by New Employer. Not by EPFO.
It is always better to transfer the account rather than closing. After it is our saving
which will help us in times of providence.
Assurance Benefit :
The benefit provided under the Employees' Deposit Linked Insurance Scheme is called
Assurance Benefit. On the death of the member while in service, the nominee or any
other person entitled to receive the Provident Fund benefits will, in addition to the
Provident Fund, receive the Assurance Benefit under Employees' Deposit Linked
Insurance Scheme .
Every newspaper employee other than an excluded employee shall be entitled to become
member of the Fund after completion of 3 months continuous service or if he has
actually worked for 60 days during 3 months or less (There is no wage ceiling in the case
of newspaper employee). (Para 80)
Every Cine Worker other than an excluded employee shall be entitled to become a
member of the Fund if he has worked in not less than three feature films with one or more
producers provided his pay at the time of joining the Fund does not exceed Rs. 1600/-
P.M or Rs.15,000/- per year. (Para 81)
If the company is closed and the employer is either not traceable or refused to sign the
subscriber to the fund can still submit his claim for settlement through other means. It is
the duty of the employer under the Act & Scheme to help Employees' Provident Fund
organisation to settle the Provident Fund dues of his employees. He has to complete the
prescribed application within 5 days of receipt [para72(5)] forms & hand over it to the
member when he leaves the service. When a member finds it difficult to get the form
attested by the employer, he can get the attestation of any of the following officer & send
to the Provident Fund office:
1. Manager of a bank.
2. By any gazetted officer.
3. Member of the Central Board of Trustees./ committee/ Regional Committee
(Employees'
Provident Fund Organization).
4. Magistrate/ Post/ Sub Post Master/ President of Village Panchayat/ Notary
Public.