Know EPF withdrawal rules Online

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Check Rules Of EPF Defined By Government

• BY iepfbalance.co.in

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Employees Provident Fund is a small saving
scheme that is offered to Indian workers as well
as international workers through the EPFO of
India. The scheme allows accumulation of funds as
well as accrual of interest on the accumulated
funds.
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A Universal Account Number system was started in
October 2014 to allow portability of provident
fund accounts of employees in case of change of
employment. The 12-digit UAN is also helpful in
keeping track of the provident fund account
details and Rules of EPF.
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Rules pertaining to Employees Provident
Fund Contributions from employees as well as
employers add to the EPF However, unlike what is
commonly thought to be, the entire portion of
contribution from an employer doesnt go
exclusively towards the Employees Provident
Fund.
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The division of funds as of November 2015 is
Rules of EPFO as follows1. 12 of Salary of
Employee goes directly towards Employees
Provident Fund2. 12 of Salary of Employer is
divided as follows
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3.67 of contribution towards Employees
Provident Fund1.1 of contribution towards EPF
Administration Charges0.5 of contribution
towards Employees Deposit Linked
Insurance0.01 of contribution towards EDLI
Administration Charges
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1. Revision of minimum salary limitsEarlier,
an employee having salary below INR 6500 per
month had to mandatorily contribute towards EPF.
The minimum salary limit has been revised to INR
15000.Click here for more information about EPF
rules.
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2. Changes to pension amount The minimum monthly
pension amount has been now set at INR 1000 for
the widow of a member of the Employees Provident
Fund. For children and orphans, it has been set
at INR 250 and INR 750 per month respectively.
3. Insurance Coverage The initial coverage
amount under EPS had been INR 156,000.
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4. Employer Contribution towards EPS Due to the
change in the minimum salary amounts, employer
contribution has increased to INR 1250 per month
towards EPS irrespective of if the salary is
below or above INR 15000 per month5. Change in
threshold limit Instead of 20 employees per
organization as the minimum group size, 10
employees in an organization will be considered
eligible for EPF contribution
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