Learn the entire process about EPF

Learn the entire process about EPF

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EPF or Employment Provident Fund is a kind of savings account, maintained by EPFO( Employment Provident Fund Organisation) under the Ministry of Labour and Employment. The fund allows employees to deposit a fixed amount of 12% of their basic salary plus dearness allowance in the EPF accounts. Employees also deposit an equal contribution of 12% of employee’s salary as part of their contribution.

EPF Interest Rate: The rate of Interest on EPF funds is determined by the Finance Ministry every quarter and currently stands at 8.50%.

What is the EPF Login Portal?

If an employee wants to get any information about their EPF Login and EPF account including viewing the balance of their EPF funds, managing EPF funds or withdrawing funds during financial contingencies, the same can be done through EPFO portal. 

However, to avail of various services related to their EPF accounts online, employees EPF accounts must be registered.

Process for EPFO Portal Registration and Login: 

Employees can log in on the EPFO portal, once the employer has updated the KYC details of an employee by using the following steps:

  • Firstly, the employer needs to visit the EPFO employer login page. By clicking on https://unifiedportal-emp.epfindia.gov.in/epfo/#.
  • Now, ‘Sign In’ using the username and password.
  • Next, on the page displayed approve the KYC details of the employees.

Employees can now log in the EPFO portal by following the below-mentioned procedure:

  • Visit the EPFO website by clicking on https://www.epfindia.gov.in/site_en/index.php.
  • Now, under ‘Our Services’ tab, click on ‘For Employees’.
  • Next, on the page displayed click on ‘Member UAN/Online Service under ‘Services’, 
  • Finally enter the UAN, password, captcha code and click on ‘Sign In’.
  • On the main page of the EPFO portal, you can access the following services:
  1. EPF balance check
  2. Claim PF amount
  3. Transfer old PF amount to new PF account
  4. Update KYC.

Services offered by EPFO Portal:

The detailed explanation of the services provided by EPFO Portal is mentioned below:  

1.UAN OR UNIVERSAL ACCOUNT NUMBER

UAN, which is a 12-digit unique code, is allotted to every employee and allows you to link different EPF accounts. To avail the services of EPFO portal, you must have a UAN number, and the same can be used for availing various services online. 

2. e-Sewa Service

You can now avail various online facilities like downloading UAN card, updating KYC information or any transactions related to EPF passbook etc. on the EPFO portal.

3. EPF TRANSFER ONLINE

With the introduction of EPFO portal, you can now quickly transfer the old PF funds to the new PF account without any hassle and that too in a completely paperless manner. 

4. Management of Inoperative accounts:

It has now become convenient to keep track of your old balances and thus if there has been no contribution in the EPF accounts from the last 36 months can be settled easily.

5. PF WITHDRAWAL

As per EPF rules, employees can withdraw funds from your EPF account after retirement. However, the same can also be withdrawn during financial emergencies if EPFO verifies the reasons for withdrawal of funds. 

6. ONLINE PF PAYMENT

As per the guidelines of the Finance Ministry, it has become mandatory for all establishments to make PF payments online.

Conclusion: Employees can also use other services, like keeping track of their EPF accounts. They can also request to receive the updates about the same through SMS services or by giving a missed call. Along with that they can also download or view EPF passbooks on the EPFO portal.

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