The Employees Provident Fund (EPF) is one of the statutory community service under the Central Government of India’s department or ministry of Labour and Employment and is in charge of directive, administration and supervision of Provident Funds in the country.
The Fund also controls economic assistance and social security deals with other democracies and nations. The idea where investors of EPF are formed by both the employer and the employee where the fund subscriber are permitted to pull out a few portion of their provident fund for contrasting objectives for example, disease or sickness, erection or making of apartment / dwelling / purchase of flat and can be used for the marriage purpose of individual and family member, medical cost, circumstances beyond one’s control or an accident etc.
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Form 19 – The Form 19 is for the investors for the last settlement of the EPF account the time when they quit or retire from a job. In case if they get another gob but doesn’t feel like transferring the old Provident Fund account’s Finances, they can go for the Form 19 to withdraw Funds from the old account of subscriber.
Form 10 – C :- The Pension withdrawal advantage from 10-C need to be filled up by an employee in case if they get retired from the job before completing the period of 10 years of service or if they come to the age of 58 years before completing the period of 10 years of service.
A subscriber who has attained 10 years of service on the same time or date of leaving the job but has not completed the age of 50 years on the exact day of filling the letter of application can also fill the same from 10- C.
The other case is when a subscriber has reached the age of 50 years or even more, but didn’t attained the age of 58 years and is not ready to reduce his/ her pension can also go for this form.
The Family / Subscriber/ beneficiary of the departed member who had died after attaining 58 years of age but had not finished the total age of 10 years of service can also fill this claim form.
Form 31 – This form is for the subscriber who is willing to pull out the Provident Fund before the retirement for different reasons like purchasing and building a house, marriage or education, recompense of home loan and machinery and medical issues.
Form 10- D: – Every EPF subscriber get a pension amount after retirement at the age of 58 years. However the member can get the reduced pension at a discounted rate of 4% annually after reaching the age of 50 years.
