How to pay epf online

How To Pay EPF online

BY :iepfbalance.in

The EPF is employees provident fund scheme and the most common form of saving and investment among salaried people. A small portion of salary is deducted every month and invested in the EPF account.

The same amount is contributed in the every PF account by the employer on monthly basis. If you are a member of EPFO Pay EPF Online, you should know certain most basic facts of EPF. The funds under EPF scheme are solely maintained by the EPFO.

EPFO has established regional offices in all the states. It works under the control of the Ministry of Labour & Employment.

Knowing EPF, its interest rates, benefits and rules is very significant.

PF account also offers many benefits like loan for specific reason, regular funding for investments like LIC, and tax exemptions.

Know the Benefits of your EPF Account Here are the most important points every EPF member should know: Nomination – You can nominate a person for the amount of PF you are contributing monthly. The nominee mentioned in the PF account is handed over the amount after the deceased person. The Form 2 is needed to be filled up and submitted to the EPFO to nominate a person.

If EPF online payment through SBI is invested in equities, it can give good rate of returns. EPFO has started investment in the equities too. The government has already given approval to 5 to 15% of the EPF amount to be invested in the stock market.

The employee pension scheme or EPS is given 8.33% of the employer’s contribution. Or maximum Rs. 1250 from the employer’s contribution goes to the pension scheme. You should transfer your EPF whenever you change job to be eligible for the pension.

If your basic pay is more than Rs. 15,000 then you can voluntarily opt out of becoming EPF member. But if you are already an EPFO member, you cannot opt out.

RTI – you have right to file an RTI if you are unable to know any detail about your EPF account.

Now, the EPFO portal is offering online facility of checking PF balance amount and EPF claim status. Follow us for more information and updates on employees provident fund.

THANK YOU BY : iepfbalance.in