FAQs

Employ Provident Fund FAQs

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  1. Can members change his/her nomination?Yes, members can change their nomination as required under the norms set by Government of India. But, the nominations should be preferably in relation to the family member. If the person is not having any family; they can nominate anyone they want.
  1. Employee has left service with 8 years of service. He has not taken refund of contribution. He has not reached age 58. If he dies during deferment; what benefit will his widow receive?
  1. The widow of the deceased is entitled to receive the amount till the age of 50 years as a beneficiary of the nominee. It is will be provided to them as a part of the pension.
  1. How many years of service are required to be eligible to receive member pension?
  1. In order to be eligible for getting membership based pension, a person has to do a minimum of 10 years of service.
  1. If I resigned from the present company & joined in a new company, in this case how my service will calculated?
  1. If the person is willing to use same Provident Fund Number to the other company; then, the PF will be calculated as per service carried out till resign. Apart from this, the person willing to withdraw PF from a company and wish to start a fresh PF account in other will have his or her service calculated for a particular time period served in a company.
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  1. In case of employee’s death in service, what benefit will be available to his family?
  1. If an employee dies at the time of service, his family is entitled to get encashment of leave, special provident fund with gratuity, lump sum payment under Employees Family Security Fund, Educational Allowance to children, family pension, and medical allowance.
  1. Is it Compulsory for the all the employees to contribute to the Provident Fund?
  1. Yes, it is mandatory for the employees having basic salary of Rs. 6500; though, contribution is obligatory for the employees with more than Rs. as basic salary. A part of their alary is deducted for PF deposits with Employees Provident Fund Organization.
  1. Suppose member has not nominated anyone.
  1. If the person has not nominated anyone; then, the amount of Provident Fund gets transferred to the deceased’s father or mother.
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  1. What does it mean by continuous service of ten years?
  1. By continuing 10 years of service in a company or companies with same Provident Fund number accounts for eligibility of pension scheme laid under the rules of EPFO, provided there has been no withdrawal from the PF account.
  1. What happens to the provident fund & Employee Pension fund if an employee who wants to resign from the service before completion of ten years of continues service?
  1. The Provident Fund amount can be withdrawn by completing Form 19 and 10C, which is provided by the HR Department of a company.
  1. What should I do when I change my job? And what should be done when I quit my job without joining elsewhere?
  1. At this point of time, the balance of Provident Fund gets transferred to some other employer. The present balance is maintained and the new contributions can be done by the other person.  And when it comes to the matter of quitting the job, PF amount can be withdrawn with a declaration that the person is not willing to work for next 6 months.
  1. When can I withdraw my EPF money?
  1. Provident Fund amount can be withdrawn on account of marriage, education or even medical emergency. Generally, one has to serve a minimum of 7 years in a company or companies to be eligible for withdrawal. In the medical emergency case, there is no minimum limit of service. And the maximum amount allowed is 50 percent of the total.