. EPF is a financial savings scheme that helps an worker accumulate a corpus for his or her retirement.
EPFO has a number of varieties that cater to the completely different wants of the staff.
The Employees’ Provident Fund Organisation (EPFO) is a statutory physique that manages the Employees’ Provident Fund (EPF) and different schemes associated to the welfare of an worker. EPF is a financial savings scheme that helps an worker accumulate a corpus for his or her retirement. Apart from this, EPFO has launched a number of different varieties that cater to the completely different wants of the staff.
It is necessary for a working particular person to concentrate on these varieties and their utilization to make sure well timed processing of their EPF-related transactions. Employees should go to the official EPFO web site or search assist from their employer for additional data on the varieties of provident fund varieties.
We have listed down a number of varieties of EPFO varieties that workers should have details about:
–Form 19: This type is used to withdraw the EPF stability after leaving the job. The worker can fill out this kind and submit it to the employer for additional processing. The type requires the worker’s private and employment particulars, equivalent to identify, handle, PF account quantity, date of becoming a member of and leaving the job. The employer is required to attest the shape and submit it to the EPFO workplace for closing settlement of the EPF stability. The EPF stability consists of the worker’s contribution, employer’s contribution, and the curiosity earned on it.
–Form 10C: It is used to withdraw the Employee Pension Scheme (EPS) stability. For the unversed, the EPS is a pension scheme that’s linked to the EPF account. The worker is required to fill this kind and submit it to the employer for additional processing. Along with private particulars, the shape requires scanned paperwork like- copy of clean or cancelled cheque, date of start (DoB) certificates of kids of member, if making use of for scheme certificates, demise certificates, in case of demise of the member amongst others. The employer is required to attest the shape and submit it to the EPFO workplace for settlement of the EPS stability.
–Form 31: People can use Form 31 to withdraw their EPF funds partially or in full however solely beneath sure circumstances equivalent to medical emergencies, home renovation, or marriage. Employees can apply for this untimely withdrawal from their respective EPF account each on-line and offline. Once the method is down, individuals should look forward to a number of days for his or her employer to approve this request after which discover the fund credited to their checking account.
–Form 13: This type is used to switch the EPF stability from the earlier employer to the present employer. The worker is required to fill this kind and submit it to the earlier employer for additional processing. The type requires particulars equivalent to identify, handle, EPF Code and the account quantity allotted to the brand new worker, Details of the payee, PF account quantity, and the small print of the brand new employer. The earlier employer is required to attest the shape and submit it to the EPFO workplace for the switch of the EPF stability.
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