Put into effect in 1952 under the EPF and MP Act, the Indian Employees’ Provident Fund (EPF) is very important and beneficial social security program for every government as well as private employee. The EPF India is regarded as the “Peace of Mind” for the employees working under the Government sector, Private Sector, State –Statutory Boards, Sponsored Corporations, and Private Business. The basic motive of the EPFO India is to ensure financial stability to the employees in the hard days of their life and/or when they are no longer involved in these sectors due to the typical retirement. In other words, the EPF India is a favorable reward to every aforesaid employee for his/her role in the sector and all contributions intended for the economic development of the country.
How EPF India Is Administered?
Being the most critical and lucrative social security program in India, the EPF India directs to the point of prospective financial stability for every said employee. The EPFO India is administered by the Central Board of Trustees, composed of legislature of the Government of India, regional governments, employers and employees while the management of the EPF funds is managed by the EPFO of the Central Bank.
EPF Eligibility :
To quality EPF eligibility, it is something basic and essential for every employee to be an employee of the abovementioned any of the government or private sectors. Another EPF eligibility is that he/she must donate a minimum share of 8% and employer a minimum of 12% from their overall regular monthly compensation. The particular amount is allowed to grow as time passes and in accordance with the necessary terms and conditions for EPF eligibility, which is credited to the employees’ account in emergencies or when they have reached the evening of their life or have got retirement. That is all about the basic norms for EPF eligibility.
The EPFO India is truly a complete reliable friend as well as a sheet anchor that helps you in the latter part of your life. Also during certain critical instances in life, for example the dream to own a house during the incumbency of the job, the EPF will importantly come into play to make the dream come true. Precisely, all you need to do is put 3/4th of your currency as security deposit.
Overall, the EPF India directs every specific employee to the point of having a safe and sound future with respect to finance.
EPF Online :
Today, with the sweeping, proven internet services, it is very easy to keep tab on your EPF online account. With the EPF online facility, you can easily check your EPF online account balance; print the EPF online statement, transaction to your account, access EPFO forms and more.
EPFO Forms :
Also, you can collect and fill EPFO forms online sitting in the full comfort of your office or home. Simply visit and explore the official website of EPFO and you will be able to find the EPFO forms and choose the one seeming suitable to you.
Contact Details :
All contact details including Phone numbers, SMS numbers and Emails can be accessed by logging into the official EPF India website: Epfindia.com.