EMPLOYEES’ PROVIDENT FUNDS & MISC. PROVISIONS ACT, 1952
& THE SCHEMES
This amount is paid after the retirement from the services.
Applicability of the act
- PF is applicable in any organization where 20 or more persons are employed or class of such establishment which central govt may speicfy.
- PF is applicable in every state except J & k.
— To provide Monetary benefits to survive after retirement.
— To minimize risk against health,sickness,disablement of the employee and his dependents.
— Old age Pension benefits.
— Widow pension.
— To maintain dignity & Social status.
PF is deducted on basic salary. If emplyee’s basic is less than or equals to Rs.6500 he will be covered in pf.
12 % Employee side
3.67%(epf part)+ 8.33 % (Pension part) or 540 whichever is less
PF challans are submitted on 15th of every month in SBI, 5 days grace period is given to submit challans.
PF Returns are submitted twice a year-
Every month with challans , secondly yearly in the month of april.
PF RETURNS
Form 5 is used to submit pf monthly return in which new employee details is mentioned.
Form 10 is used to submit pf monthly return in which left employee details is mentioned.
Form 12A that is used for the same purpose which contains consolidated details of that particular month-new joinees,left employees & employees/employer pf contribution.
Form 3A is used for pf annual return.
- Form- 19 : To claim final settlement (resignation, retirement, termination) of Provident Fund by a member.
- Form- 20 : To claim Provident Fund by nominee/legal heir on death of the member.
- Form- 10D : To claim pension. (In duplicate : If within state, In triplicate : If outside state.)
- Form- 31 : To claim temporary withdrawal/advance under Employees' Provident Fund scheme '52.
- Form-13 : To effect transfer of Provident Fund/Pension from one A/C to another.
- Form- 10C : To claim / withdraw benefits under Employees Pension scheme
