EPF Employee Provident Fund Online Claim Withdrawal Online Full Process Latest 2024 | EPF

Login Link:
https://unifiedportal-mem.epfindia.gov.in/memberinterface/

UAN Activation Link:
https://unifiedportal-mem.epfindia.gov.in/memberinterface/no-auth/uanActivation/activationForm?_HDIV_STATE_=3-13-FCE6B207DCCCFAD541801BE556D02DE5

The Employee Provident Fund (EPF) is a retirement benefits scheme available to all salaried employees in India. Here are some key details about EPF:

Purpose: EPF is a savings scheme that helps employees save a portion of their salary every month towards their retirement.

Contributions: Both the employee and the employer make monthly contributions to the EPF account. As of 2022, the employee contributes 12% of their basic salary plus dearness allowance, while the employer contributes an equal amount. A portion of the employer's contribution goes towards the Employee Pension Scheme (EPS).

Interest Rate: The EPF interest rate is set by the government and is subject to change every financial year. Historically, it has been around 8-9% per annum.

Withdrawals: EPF allows for partial withdrawals under certain circumstances such as purchasing a house, medical emergencies, marriage, education, etc. Complete withdrawals are allowed upon retirement, resignation, or if the account remains inactive for a certain period.

EPF Number: Every employee contributing to EPF has a unique EPF number which remains the same throughout their career. This number helps in tracking contributions and withdrawals.

Online Access: EPF members can access their account details, such as balance, contributions, and claims, through the Employee Provident Fund Organisation (EPFO) portal.

Tax Benefits: Contributions made to EPF are eligible for tax deductions under Section 80C of the Income Tax Act, up to a certain limit.

Universal Account Number (UAN): UAN is a unique identification number provided to EPF members to facilitate easy tracking of their EPF accounts. It remains constant even if an employee changes jobs.

Nomination: EPF members are required to nominate beneficiaries who will receive the EPF balance in case of the member's demise.

EPF Passbook: EPF members can download their passbook from the EPFO portal, which provides details of contributions, withdrawals, and interest earned.

These are some of the basic details about EPF. Specific details may vary based on individual circumstances and any updates made by the government or EPFO.

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