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Employees’ Provident Fund (EPF) is a government-backed savings scheme intended to help employees cover their expenses once they retire. General Provident Fund (GPF) is the government employees’ version of EPF. Most commonly, the EPF or GPF is referred to as just ‘PF’.
Under the PF scheme, both employee and the employer contribute monthly to the EPF account of the employee. The minimum contribution that employees should make is 12% of their basic salary. The employer too shall contribute with the same amount, i.e. 12% of employees basic salary.
The government has decided to retain the EPF interest rate of 8.5% for the financial year 2020-21.
To know the status of your claim the following information should be available to you:
b. EPF regional office of your employer
c. Employer details
d. Extension code (if relevant)
Keep the above information/documents handy, and then follow the below steps to check the status of your claim online.
A request has to be raised through The Employees’ Provident Fund Organisation (EPFO) to withdraw from your PF account. The EPFO is a statutory body under the Ministry of Labour and Employment. After placing a request for PF withdrawal, you may not know the status of your request.
To address this problem, the EPFO has launched an online process to see the status of your requisition. Here is the procedure to check the status of your EPF withdrawal claim.
Step 1: Go to the EPFO portal. Click on ‘Services’ followed by the ‘For Employees’ option.
Step 2: Click on ‘Know Your Claim Status’.
Step 3: Click on the link and it will redirect you to member passbook application.
Step 4: Log in by entering the Universal Account Number (UAN), password and captcha.
Step 5: Now you will find the option of ‘View Claim Status’. Click on the same and view your claim status.
For the benefit of the claimant, the EPFO also sends alerts via SMS if a mobile number has been linked to the account. The SMS is sent in the following two instances.
1. On receipt of claim application.
2. On transfer of funds to the claimant’s bank account.
There could be income tax implication on your EPF withdrawal under specific scenarios.
Refer to ClearTax’s page to know more about the taxability of EPF withdrawal.
No, in order to withdraw EPF because of being jobless, the period of unemployment must exceed three months.
Yes, Aadhaar is necessary to file an online claim.
Yes, you will have to produce documentary evidence to withdraw EPF.
EPF eligibility is determined by the amount of time spent in service and it differs across conditions.
No, the latest amendments have alleviated the need for seeking approval from employers to file EPF claims.