The Employees’ Provident Fund Organisation (EPFO) is a statutory body responsible for managing the Employees’ Provident Fund (EPF) and other welfare schemes for employees.
EPF is a savings scheme that helps employees accumulate a corpus for retirement. In addition to EPF, the EPFO has introduced several other forms that cater to the different needs of employees. To ensure the timely processing of EPF-related transactions, it is crucial for working individuals to be aware of these forms and their usage.
Some of the EPFO forms that employees must know about include Form 19 and Form 10C. Form 19 is used to withdraw the EPF balance after leaving a job. To avail of this benefit, the employee needs to fill out the form and submit it to their employer for further processing. The form requires personal and employment details, such as the employee’s name, address, PF account number, and date of joining and leaving the job.
The employer is then required to attest the form and submit it to the EPFO office for the final settlement of the EPF balance. This balance includes the employee’s contribution, the employer’s contribution, and the interest earned on it.
On the other hand, Form 10C is used to withdraw the Employee Pension Scheme (EPS) balance. EPS is a pension scheme linked to the EPF account. Employees need to fill out this form and submit it to their employer for further processing. Along with personal details, the form requires scanned documents such as a copy of a blank or canceled cheque, date of birth certificates of children of a member if applying for a scheme certificate, and death certificate in case of the member's death, among others. The employer is then required to attest the form and submit it to the EPFO office for the settlement of the EPS balance.
In conclusion, employees must visit the official EPFO website or consult their employer for further information on the types of provident fund forms. By being aware of these forms, employees can ensure that their EPF-related transactions are processed in a timely manner.
