{"id":26004,"date":"2022-09-16T09:53:57","date_gmt":"2022-09-16T09:53:57","guid":{"rendered":"https:\/\/todaysnews.in\/daily-updates\/?p=26004"},"modified":"2022-09-16T09:53:57","modified_gmt":"2022-09-16T09:53:57","slug":"employees-provident-fund","status":"publish","type":"post","link":"https:\/\/todaysnews.in\/daily-updates\/employees-provident-fund\/","title":{"rendered":"Employee\u2019s Provident Fund: Know its Benefits and Services"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As you know Employees Provident Fund is given at the time of retirement and leaving the job. PF scheme is thus a very beneficial for employees in any company because it literally save your earnings including all the features like good interest rate, tax exemption etc.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The idea behind implementing this scheme was to provide social security and a safe or secure <a href=\"https:\/\/paytm.com\/\">future<\/a> to the employees as a reward for their hard work and dedication towards the organization.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This stands a mandatory contribution for all working professional under the Employee\u2019s Provident Fund Act.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Benefits of Employee\u2019s Provident Fund<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you have to make any complaint related to your EPF, then you can do it through EPFO.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPF is governed by a statutory body, so it is mandatory for all organizations to follow all the rules laid down by EPFO.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPFO makes online services easily available with the help of EPF, the claim settlement time has been reduced from 20days to 3 days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPF for employees allows them to save a lot of money in the long.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monthly contribution to EPF makes it easy for employees to save a good amount for their requirement, as they do not need to withdraw lump sum amount for investment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employees can also withdraw a part of their EPF in case of emergency.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPF creates a source of <a href=\"https:\/\/todaysnews.in\/daily-updates\/vinesh-phogat\/ \u200e\">long<\/a> term investment for the employees while creating a retirement fund for them. That part of the employee\u2019s salary that is deducted for EPF is not taxed.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If an employee changes jobs, he can get his EPF account transferred to another company.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Services Provident by EPFO<\/span><\/h2>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Online Registration: &#8211; Any company can register itself and its employees through online on the EPFO portal.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">UAN details can be generated: &#8211; Employees can generate their UAN details using the EPFO online portal and then log in to the UMANG app for east access to all PF related information.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Online EFP Subscription: &#8211; Organizations can easily make PF payment or subscription online.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Redressal of Grievances: &#8211; In case of inquiries regarding settlement of pension, PF withdrawal, PF transfer etc, EPF members can make complaints.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Online claim Transfer Status &amp; Passbook: &#8211; Members can easily check or download their PF passbook with the help of UAN.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Missed call and SMS Service: &#8211; Users can easily get their account details by sending an SMS or through a missed call.<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>As you know Employees Provident Fund is given at the time of retirement and leaving the job. PF scheme is thus a very beneficial for<\/p>\n","protected":false},"author":1,"featured_media":26006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[51],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Employee\u2019s Provident Fund: Know its Benefits and Services - Today\u2019s News<\/title>\n<meta name=\"description\" content=\"As you know Employees Provident Fund is given at the time of retirement and leaving the job. 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