Employment Provident Fund is created with an intention to help private sector employees to save a fraction of their monthly salary.
And this savings will be helpful for the employees in the event of employee’s termination or if the employee is no longer fit to work or after their retirement.
Apart from these, you also need to provide the KYC details including:
For instance, if the monthly salary is Rs 20,000, the contribution from employee towards his or her EPF would be Rs 2,600/month i.e.
To withdraw money from EPF account, employees can now make use of UAN based Form 19.
This facility is available to all those employers whose UAN is activated and verified with KYC details including Aadhar card number, and bank account number.
Employee provident fund- EPF form31
EPF Form 31 also known as ‘advance form’ is an application form that must be filled by an employee who wishes to withdraw funds partially from their EPF account.
Some fields must be filled by the employee and the rest by the employer and the EPF commissioner.
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The EPF form contains the following fields that must be mandatorily filled by an employee as per rules of the employee provident fund scheme 1952.
Father name/husband’s name (in case of married woman)
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