EPF Registration

Monthly Filing

It is obligatory that employees’ drawing less than Rs 15,000 per month, to become members of the EPF. As per the guidelines in EPF, employee, whose ‘basic pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing a pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer and Assistant PF Commissioner.

The PF contribution paid by the employer is 12% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee.

 We arrive at the rate of 12% based on the following sub-division:
3.67% of contribution towards Employees’ Provident Fund1.1% of contribution towards EPF Administration Charges0.5% of contribution towards Employees’ Deposit Linked Insurance0.01% of contribution towards EDLI Administration Charges8.33% of contribution towards Employees’ Pension SchemeThe employer before paying the employee’s salary must deduct the employee’s contribution from his wages. Then the employee portion and employer portion are payable to the EPFO, within 15 days of the close of every month.

EPF Transfer Claims

If the member has more than one EPF member ID i.e. EPF account and the EPF account of these accounts have not been transferred to the latest EPF account, then member is required to get his PF transferred into his current EPF account.

Universal Account Number (UAN) acts as an umbrella for the multiple member IDs allotted to an individual by different employers. UAN enables linking of multiple EPF accounts (member ID) allotted to a single member. UAN offers a bouquet of services like dynamically updated UAN card, updated PF passbook including all transfer-in details, facility to link previous members PF ID with present PF ID, monthly SMS regarding contribution in PF account and facility for auto-triggering transfer request on change of employment.

There are five types of EPF transfer. Here is how the transfer process will work in each type.

1. Transfer of PF from one un-exempted establishment to another un-exempted establishment. Mode of transfer: Online2. Transfer of PF from exempted establishment to en-exempted establishment.

Mode of transfer: Online3. Transfer of PF from un-exempted establishment to exempted establishment.

Mode of transfer: Online4. Transfer of PF from exempted establishment to another exempted establishment.

Mode of transfer: online 5. Transfer of EPS only (for EPF exempt members) from un-exempted establishment to un-exempted establishment.

For online PF transfer, please ensure following-

• Employees should have activated his UAN at https://unifiedportal-mem.epfindia.gov.in/memberinterface/ portal.
• Mobile number used for activation should also be active as OTP will be sent in this number.
• Aadhaar number, Bank account of employee should have been seeded against the UAN.
• The date of exit for the previous employment must have been entered. If date of exit is missing badly kindly follow the process as given in this FAQ for updation of date of exit.
• The employer should have approved the e-KYC.
• Only one transfer request against the previous member ID can be accepted.
• Personal details reflecting under the 'Member Profile' must be verified and confirmed before applying.

EPF Withdrawal

One may choose to withdraw EPF entirely or partially. EPF can be completely withdrawn under any of the following circumstances:
a. When an individual retires
b. When an individual remains unemployed for more than two months. To make a withdrawal on this circumstance, the individuals must get an attestation of the same from a gazetted office.
The complete withdrawal of EPF while switching employers without remaining unemployed for two months or more (i.e. during the interim period between changing jobs), is against the PF rules and regulations and therefore is not allowed.

Availing Loan from PF account

Employees Provident Fund (EPF) is one of the most popular financial tools used by the salaried class to accumulate retirement corpus. Organizations make it a point to deduct a certain portion of your salary towards the EPF. You can see that in your salary slip showing the employee contribution towards his/her EPF account. An equitable contribution is also made by your employer.
The employer deducts a compulsory 12% of your basic salary + dearness allowance + retaining allowance and marks it as your contribution. The same 12% is contributed by the employer too. But 8.33% of it is diverted towards the pension fund and the rest remains with the EPF. The contributions made also earn you interest. Presently, the rate of interest on EPF stands at 8.50%.
But do you know you can avail of a loan against your EPF contributions too? Yes, it’s possible! Advances against EPF reserves are not treated as typical loans and, therefore, you don’t need to pay any interest on the same. However, the loan against provident fund is available only for the below-mentioned purposes.

Sl. No.	Particulars of reasons for withdrawal	Limit for withdrawal	No. of years of service required	Other conditions
1	Medical purposes	Six times the monthly basic salary or the total employee’s share plus interest, whichever is lower	No criteria	Medical treatment of self, spouse, children, or parents
2	Marriage	Up to 50% of employee’s share of contribution to EPF	7 years	For the marriage of self, son/daughter, and brother/sister
3	Education	Up to 50% of employee’s share of contribution to EPF	7 years	Either for account holder’s education or child’s education (post matriculation)
4	Purchase of land or purchase/construction of a house	For land – Up to 24 times of monthly basic salary plus dearness allowance For house– Up to 36 times of monthly basic salary plus dearness allowance,Above limits are restricted to the total cost	5 years	i. The asset, i.e. land or the house should be in the name of the employee or jointly with the spouse. ii. It can be withdrawn just once for this purpose during the entire service. iii. The construction should begin within 6 months and must be completed within 12 months from the last withdrawn instalment
5	Home loan repayment	Least of below:  Up to 36 times of monthly basic salary plus dearness allowance Total corpus consisting of employer and employee’s contribution with interest Total outstanding principal and interest on housing loan	10 years	i. The property should be registered in the name of the employee or spouse or jointly with the spouse. ii. Withdrawal permitted subject to furnishing of requisite documents as stated by the EPFO relating to the housing loan availed. iii. The accumulation in the member’s PF account (or together with the spouse), including the interest, has to be more than Rs 20,000.
6	House renovation	Least of the below: Up to 12 times the monthly wages and dearness allowance, orEmployees contribution with interest, or Total cost	7 years	Either for account holder’s education or child’s education (post matriculation)
7	Partial withdrawal before retirement	Up to 90% of accumulated balance with interest	Once the employee reaches 54 years and withdrawal should be within one year of retirement/superannuation