Unified Account Number (UAN) System. EPF is designed to be managed under a single Universal Account Number (UAN). The UAN remains the same throughout an employee’s career, regardless of job changes. Each job generates a new Member ID, which is linked under the same...
What Is the EPF Annual Statement. The EPF annual statement provides a summary of contributions and interest for the financial year. It includes monthly deposits made by both employer and employee. The statement also reflects the total accumulated balance and pension...
Overview of EPF Interest Rate. EPF interest rate is declared annually by the central government in consultation with the Central Board of Trustees. The rate applies to the accumulated balance in an employee's EPF account. It is compounded yearly and credited at the...
Changes in Contribution Rates. The government reduced the EPF contribution rate temporarily from 12% to 10% for both employers and employees during certain months to boost liquidity. This relief measure was implemented under special economic conditions. Normal...
per your preferred format: Meaning of Exemption under the EPF Act. Exemptions allow eligible establishments to manage provident fund contributions through their own approved trusts. These are granted under Section 17 of the Employees’ Provident Funds and Miscellaneous...
Purpose of the UAN Allotment Letter. The UAN allotment letter is issued to inform the employee about their assigned Universal Account Number. It acts as an official confirmation that the employee is registered under the EPF scheme. The letter helps the employee access...
point, without naming any app or website: Using UAN for Access. Ensure your Universal Account Number (UAN) is active and linked to your employment. Login using UAN credentials to access your EPF account details. Verify that your personal information and KYC are fully...
Nature of Investment. EPF (Employees’ Provident Fund) is a government-backed retirement savings scheme. Mutual funds are market-linked investment products managed by asset management companies. EPF is designed primarily for salaried employees as a long-term savings...
Basic Nature of EPF and PPF. EPF (Employees’ Provident Fund) is a retirement scheme for salaried employees. PPF (Public Provident Fund) is a voluntary long-term savings scheme open to all individuals. EPF involves contributions from both employer and employee. PPF is...
EPF Contribution Rules. EPF is designed as a joint contribution scheme between employer and employee. Contributions are made only when the person is in active employment. Once an employee resigns, the employer stops making monthly deposits. There is no provision for...