When you contribute 11% of your monthly salary to the EPF, your employer will contribute another 12% or 13% of your salary (the statutory contribution rate is subject to changes by the government) to your EPF savings.
Q. How PF amount is deducted from salary?
EPF contribution is divided into 2 parts. – If you are a man, you must contribute 10% or 12% of your basic salary. – In case you are a new woman employee, it is 8% of your basic salary for the first 3 years. Thereafter, it becomes 10% or 12% of your basic salary.
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Q. How much minimum PF is deducted from salary?
The change in basic wage will result in a change in contribution towards PF in cases where the employer is contributing towards PF on the actual basic salary rather than the minimum required contribution of 12% of ₹15,000 (the minimum wage for PF contributions).
Q. Is EPF money taxable?
The main USP of the Employees’ Provident Fund (EPF), apart from safety and high returns (compared to other fixed options such as PPF, FD), is that it has exempt-exempt-exempt tax status. That is, it is exempted from tax at the time of maturity.
Q. Can I withdraw money from EPFO?
The amount deposited in EPF accounts earns interest on a yearly basis, and employees can withdraw their entire amount accumulated in their EPF account once they retire. However, premature withdrawals can be done after meeting certain conditions.
Q. How can I claim my PF money?
Here are the steps you need to follow:
- Login to the portal – Visit the EPFO e-SEWA portal and login using your UAN and password, and enter the captcha code.
- Visit Online Claims section – When you’ve logged in, you can look for ‘Claim (Form-31, 19, 10C & 10D)’ in the ‘Online Services’ section.
Q. Why is form 19 rejected?
Unclear cheque can also lead to rejection. Another reason for the rejection of the EPF claim withdrawal can be due to incomplete KYC. If the KYC details are not complete and verified, then the EPFO can reject the EPF withdrawal claim.
Q. What is Form 10D in PF?
You can find the Form 10D for claiming monthly pension. This form is provided by the Employees’ Provident Fund Organisation (EPFO) and it has to be submitted by the first claimant i.e. member or widow/widower, orphan, or nominee as the case may be.
Q. How can I check my PF status 31?
Step 1 – Log in to the UAN Member portal by providing your UAN and password. Step 2 – Click the ‘Online Services’ option from the menu. Step 3 – From the drop-down menu, select ‘Claim (Form-31, 19 & 10C)’. Step 4 – Enter the last 4 digits of your registered bank account.
