The Employee's Provident Fund (EPF) is most popular saving move for Indians salaries people its saving for the retirement. Amount in PF is maintained by the Employee's Provident Fund Organization of India (EPFO)
Employees' Provident Fund and Miscellaneous Provisions Act 1952 is applicable to:
Employee's Provident Fund (EPF) is a retirement benefit scheme that's available to all salaried employees. EPF has traditionally popular mode for most Indians for retirement plan.
Member can withdraw fund which get accumulated in PF accounts with interest for retirement, resignation and death. Even partial withdrawal is allowed like for house construction, higher education, marriage, illness etc.
After death of member , Provident Fund Amount is given to Family members of the employees.
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A Proffessional Expert will discuss your business requirements and collect relevant employee data and documents to begin the process for applying for PF registration.
The PF registration application will be submitted for the organisation in the prescribed format.
VALS & CO. expert will provide the PF registration number for your business and the UAN number for your employees.
Employers contribution of 12% of basic salary is totally deposited in provident fund account Whereas out of Employees contribution of 12% , 3.67% is contributed to Provident fund and 8.33% is deposited in Pension scheme.
Yes because provident fund contribution by the employer & employee is not a taxable income for Income Tax purpose.
An employee can avail the benefit after completion of 58 years of service.
Form No 19 is for Provident fund withdrawal & Form No. 10 C is for Pension scheme withdrawal.
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