The Employee Provident Fund (EPF) is an employee savings scheme. Each employee has a unique PF number associated with their PF account.
An employee provident fund is a retirement savings scheme that allows you to save money to support your retirement. The contributions are made by both the employee and employer during employment, through deductions taken from their wages.
The amount contributed to your EPF account will be paid out at the time of retirement or if you cease working permanently due to disability.
The main purpose of EPF is to provide financial security to the employee in case he/she retires early and is unable to work due to sickness or old age.
EPFO, or Employees' Provident Fund Organisation, is a non-constitutional organization that encourages employees to save for retirement.
To join the EPF scheme, employees must fulfill the eligibility requirements mentioned below.
Employees from both the public and private sectors are eligible to join EPF India.
Any organization with at least 20 employees is required to provide EPF benefits to its employees.
As an EPF member, you'll receive insurance, pension benefits, and many more.
EPF offers the following benefits:
It encourages long-term savings.
It eliminates the need to make a single, large investment. Deductions are made from the employee's salary on a monthly basis, allowing for significant savings over time.
EPF is the ultimate rainy day fund and can help employees during a financial emergency.
It aids in retirement savings and allows an individual to maintain a comfortable lifestyle.
Universal Account Number or UAN is a unique 12-digit number provided to EPF account holders. Using the UAN, EPF subscribers can easily check their fund balance and perform other activities such as PF withdrawal, merging two separate PF accounts, and more.
The UAN does not change even if the employee changes jobs. The new employer opens a new PF account under the same UAN and starts contributing towards EPF.
The PF account number changes under a new employer.
EPF Account Number is the unique number assigned to each employee's EPF account. This number can be used by employees to check the status of their EPF account, view the balance in the EPF account, etc.
During the EPF withdrawal process, employees' PF Account Numbers are also required.
The EPF Account Number consists of 22 digits and is alphanumeric i.e, it is made up of both numbers and letters.
It contains information about the state, regional office, the employee’s current organization, and the employee.
The PF account number format is as follows:
The first two letters of the PF account number represent the State.
The next three letters stand for the regional office.
The first seven numbers represent the employer’s PF registration code.
The next three numbers represent the establishment extension code.
The last seven digits represent the PF member ID of the employee and are employee-specific.
You can find your PF account number in the following ways.
1. Payslip: Your monthly salary slip contains your UAN and PF account numbers.
2. UAN portal: Using your UAN and password, log in to the EPFO website. Select passbook under view to know your current PF account number
3. HR department: Contact your current or previous organization’s HR and request to know your UAN/PF number.
4. PF Office: Go to the nearest PF office and provide all necessary information as well as identity proofs to get your PF number.
5. Mobile Number: Every time amount is contributed towards the PF, employees receive a notification regarding this update. You can find your PF number in the notification.
6. PAN/Aadhaar card: To create your PF account, companies need your PAN or Aadhaar number.
Go to the EPFO portal and click on ‘know your UAN
Provide your linked mobile number, enter the captcha, and then request OTP.
Enter the OTP sent to your mobile number, enter the captcha, and validate the OTP
On the next screen, enter your details such as name, DOB, PAN/Aadhaar card number, and captcha
Click on ‘Show My UAN’ and the screen will display your UAN
Using this UAN, log in to your portal and check your PF number
The Employee PF Number is a unique account number that employees use to verify the state of their EPF, and the balance of their EPF account, and to perform other tasks related to EPF.
It is important to know your PF number as it helps you plan ahead for your retirement. EPF members who are unaware of their PF account numbers can easily find out PF numbers by following the methods mentioned above.
There are no age restrictions for employees to join the Provident Fund. However, if the employee has already reached the age of 58, he or she cannot join the Pension Fund.
No, an employee cannot join EPF on their own. He or she must work for an organization covered by the EPF & MF Act of 1952.
No, a member's UAN remains constant throughout his or her service. The new employer will open a new PF account, which will be linked to the member's UAN.
An employee’s PF account will stay active until the funds are completely withdrawn and there are no more contributions made.
First, check if the company is offering contributions towards PF. If it does, then approach your employer and inform the of your issue. When your employer fails to take the appropriate action, contact the PF office's Regional Provident Fund Commissioner.
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