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A brief about the EPF
The EPF is a retirement benefit applicable only to salaried employees. Both the employee and the employer contribute 12 per cent of the employee's basic towards the EPF. However, if the employee wishes to increase the contribution towards EPF, he can increase it to a maximum limit of 20 per cent of his basic salary. The Employee EPF has three parts: the employee contribution, the employer's contribution and the contribution towards Pension Fund. A part of the employer's contribution is paid for the Pension Fund. A total of Rs 541 is paid for the pension fund by the employer. That is the 12 per cent of basic minus Rs 541 is contributed by the employer towards the EPF. For example, if the basic of a person is Rs 20, 000, then 12 percent of basic that is Rs 2400 minus Rs 541 which is equal to Rs 1859 is contributed towards E. P. Fund (EPF) by the employer. All this details can be seen in the PF passbook. The EPF online passbook can be downloaded from the internet.
How to download the EPF Passbook and track the month by month summary?
EPF passbook for the salaried employees is available online. To check the E. P. Fund passbook online, you have to register to the members' portal of the Employee Provident Fund Organization (EPFO) section. The details that are generally required for the registration are mobile number, email id, date of birth. After registration, the identification details are required for which you need the Permanent Account number (PAN), Passport or Driving license, AADHAR, Voter ID, NPR (National Population Register) and Bank Account. With these details you will be able to check the EPF online passbook online. Three columns are mentioned there. The employee contribution towards EPF, the employer contribution and the pension fund contribution towards the Employee provident Fund (EPF) is listed in the PF passbook, the month by month contribution that is made towards the Employee provident Fund (EPF) by the employee and the employer can be tracked from this EPF online passbook.
Returns from EPF and the way you can manage your funds
Now a yield of 8.75 per cent is achieved from the Employee provident Fund (EPF) account annually. In Employee Provident Fund (EPF), the amount is paid at the time of resignation or retirement, whichever occurs earlier. In case of change of one's job, the amount can be transferred to the new company if the employee wishes to. Loans can be taken by individuals on their EPF Account for their personal needs by submitting the documents required for the sanction of the loan. The total amount that is invested for the Employee Provident Fund (EPF) can be claimed for exemption under section 80C. All the necessary details of the contribution that is made towards the Employee provident Fund (EPF) can be tracked from the EPF online passbook. It is advised to download the PF passbook from the internet time to time and check the contributions made towards your Employee Provident Fund (EPF). It is also advised to keep it for your retirement and not to withdraw the cash accumulated from Employee Provident Fund (EPF) in case of any change of job.
The EPF is a retirement benefit applicable only to salaried employees. Both the employee and the employer contribute 12 per cent of the employee's basic towards the EPF. However, if the employee wishes to increase the contribution towards EPF, he can increase it to a maximum limit of 20 per cent of his basic salary. The Employee EPF has three parts: the employee contribution, the employer's contribution and the contribution towards Pension Fund. A part of the employer's contribution is paid for the Pension Fund. A total of Rs 541 is paid for the pension fund by the employer. That is the 12 per cent of basic minus Rs 541 is contributed by the employer towards the EPF. For example, if the basic of a person is Rs 20, 000, then 12 percent of basic that is Rs 2400 minus Rs 541 which is equal to Rs 1859 is contributed towards E. P. Fund (EPF) by the employer. All this details can be seen in the PF passbook. The EPF online passbook can be downloaded from the internet.
How to download the EPF Passbook and track the month by month summary?
EPF passbook for the salaried employees is available online. To check the E. P. Fund passbook online, you have to register to the members' portal of the Employee Provident Fund Organization (EPFO) section. The details that are generally required for the registration are mobile number, email id, date of birth. After registration, the identification details are required for which you need the Permanent Account number (PAN), Passport or Driving license, AADHAR, Voter ID, NPR (National Population Register) and Bank Account. With these details you will be able to check the EPF online passbook online. Three columns are mentioned there. The employee contribution towards EPF, the employer contribution and the pension fund contribution towards the Employee provident Fund (EPF) is listed in the PF passbook, the month by month contribution that is made towards the Employee provident Fund (EPF) by the employee and the employer can be tracked from this EPF online passbook.
Returns from EPF and the way you can manage your funds
Now a yield of 8.75 per cent is achieved from the Employee provident Fund (EPF) account annually. In Employee Provident Fund (EPF), the amount is paid at the time of resignation or retirement, whichever occurs earlier. In case of change of one's job, the amount can be transferred to the new company if the employee wishes to. Loans can be taken by individuals on their EPF Account for their personal needs by submitting the documents required for the sanction of the loan. The total amount that is invested for the Employee Provident Fund (EPF) can be claimed for exemption under section 80C. All the necessary details of the contribution that is made towards the Employee provident Fund (EPF) can be tracked from the EPF online passbook. It is advised to download the PF passbook from the internet time to time and check the contributions made towards your Employee Provident Fund (EPF). It is also advised to keep it for your retirement and not to withdraw the cash accumulated from Employee Provident Fund (EPF) in case of any change of job.