Online PF Statements - Excellent Initiative by EPFO, India

I have been struggling to transfer my old PF account balance to the current PF account from quite some time now, I thought of earning cumulative balance on the accumulated amount by doing so. But due to lack of cooperation and support, I could not find the actual problem for this issue....

After knowing that both of my PF accounts are still not merged (even after 2.6 years from the day I quit my previous employer) I am even more worried and now eager to know the detailed PF Balance Statements to cross check, if every thing is OK. Thanks to the EPFO (India) authorities, who made it transparent and possible for every PF Member to check and download their detailed PF Statement (with up-to-date balances) - Online with a simple process.

I have explored this a couple of weeks back and enjoyed this option very much and would like to share the process to download the PF Statements to all my blog visitors. Below mentioned detailed process would certainly help everyone in understanding about this facility:

PF interest rate increased to 9.5% for FY 2010-2011

Summary:
The government Employees' Provident Fund Organization (EPFO) has announced the increase in interest rate of employees’ provident fund from 8.5% to 9.5% for the current financial year 2010-11.

Impact:
Every employee of private and public sectors will earn more interest in their PF contribution for this year.

Why do they increase interest rate for current financial year?
Increasing the interest rate by 1 percent will increase burden of Rs 1,600 crore for the EPFO. The EPFO has over Rs 1,731 crore in the interest suspense account since 1952-53. The unclaimed PF money includes 1) Non active account 2) people do not transfer PF contribution to new account when they change job 3) no new contribution since many years.

Will you get 9.5 percent interest rate in future?
EPFO will take a call next year based on inflation rate and other parameters.
We are getting extra 1% interest rate for current year because of unclaimed PF money. Every year, there may be or may not be change in the PF interest rate. It was reduced from 12% to 8.5% from 1989 to 2009.

Latest EPF Balance - Employees' Provident Fund Balance online / on your mobile

Much awaited tool to know your EPF Balance has been launched by Employees' Provident Fund Organisation (A Statutory Body Under Ministry of Labour & Employment, Government of India) on 1st July 2011.

This tool is not full fledged application to manage entire EPF portfolio online.But, it will send an SMS to your mobile with last updated EPF information on given mobile no, upon providing required input. This tool is available only for 41 offices as of 11th September 2011. All other EPFO offices will also be added soon.

Process to know your EPF Balance:
1) Go to http://www.epfindia.com/MembBal.html ( http://www.epfindia.com/ )
2) Select your EPFO Office where PF account is maintained.
3) Enter your PF Account Number – Don’t enter Extension (4th field) unless your PF Account has this field. Under Employee PF Account Number* : first two fields are State & City followed by Establishment code - Maximum 7 Digits (3rd), Extension - Maximum 3 Characters / Can be left blank in case of no extension (4th) and Account Number - Maximum 7 Digits (5th) fields respectively.

This Project is really Well Executed by the so called Application Service Provider - Good Job.

4) Enter your Mobile and Name, Accept Terms and condition and Submit.
5) You will receive an SMS with the Balance Details from EPFO as:-
"EPF Balance in A/C No. AP/HYD/XXXXX/XXXX is EE Amt:Rs XXXXX, ER Amt: Rs. XXXXX as on 09-09-11 (Account updated upto 31-03-2010)-EPFO"

EE = Employee Contribution and ER = Employer Contribution on date mentioned in your SMS. It does not show current balance of PF Account as on Today.

If you get error while opening "know your EPF balance" page then please try again after sometime.It shows error sometimes, due to server busy /link failure / some other problem.

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FORMS FOR CLAIMING BENEFITS UNDER THE EMPLOYEES' PROVIDENT FUND SCHEME

http://www.epfindia.nic.in/downloads_forms.htm
(Original Source is from: © Employees Provident Fund Organisation, India)


FORM NO.
PURPOSE

13(revised)
For transferring the Provident Fund account of a member from one establishment to another establishment covered under the act / scheme.
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14.
Application for financing a life insurance policy out of Provident Fund account.
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19.
To be submitted by a member to withdraw his Provident Fund dues on leaving service/retirement/termination.
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20.
In the event of death of member, this form is to be used by a nominee / family member to claim the member's Provident Fund accumilation.
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31.
For the use of Provident Fund members to avail advances / withdrawals as provided in the scheme.
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Declaration to be submitted along with Form 31



FORMS FOR CLAIMING BENEFITS UNDER THE EMPLOYEES' PENSION SCHEME '95

FORM NO.
PURPOSE

10-C
For claiming :- Refund of Employer share.- Withdrawl benefit- Scheme certificate for retention of membership
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10-D
To be submitted by the first claimant i.e.- member or - widow/widower or- orphan or- nominee as the case may be
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Certificate to be submitted by pensioner(Life Certificate/Non Re-Marriage Certificate)
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FORMS FOR WITHDRAWAL OF INSURANCE FUNDS BENEFITS UNDER EMPLOYEES' DEPOSIT LINKED INSURANCE SCHEME, 1976

FORM NO.
PURPOSE

5(I.F.)
To be preferred by the person eligible to receive the Employees' Provident Fund dues of the deceased member who died while in services.
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GENERAL
FORM NO.
PURPOSE

Statement IW - 1

Statement of Employees qualifying for membership as International Workers

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Advance Stamped Receipt
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