This document outlines the major benefits provided under the Employees' Provident Fund (EPF) in India, including provident fund benefits, pension benefits, and death benefits. For provident fund benefits, both employers and employees contribute 12% each to the employee's fund. Members can withdraw funds for financial needs and get back contributions upon resignation. Pension benefits include lifetime pension for members and families. Death benefits provide funds to families or nominees upon death.

1. Benefits Under EPF
Dr. G C Mohanta, BE(Mech), MSc(Engg), MBA, PhD(Mgt)
Professor

2. Major Benefits Under EPF
Provident Fund Benefits
Pension Benefits
Death Benefits

3. 1. Provident Fund benefits
 Employer & employee contributes to employee’s PF
@ 12% each ( 10% in case of sick industrial co.
 EPFO guarantees Employer’s contribution and credits
interest
 Member can withdraw from these accumulations to
cater to financial exigencies
 On resignation, the member gets back his PF
contribution, Employer Contribution and Interest

4. 2. Pension Benefits
1. Pension to Member
2. Pension to Family (on death of member)
3. Pension Scheme Certificate
 After attaining the age of 50 or above, the
member can apply for Pension by
surrendering the Certificate

5. Pension Benefits
4. Withdrawal Benefit
 If not eligible for pension, member can withdraw the
amount accumulated in his pension account
5. No amount is taken from Member to give Pension
to the Member
 Employer and Govt. contributes to Pension fund
@8.33% and @1.16% respectively
6. EPFO guarantees pension to members, even if
the Employer has not contributed to Pension
Fund

6. 3. Death Benefits
Provident Fund Amount to Family (or to Nominee)
Pension to Family (or to Nominee)
Capital Return of Pension
Insurance (EDLI) amount to Family (or to Nominee)
No amount is taken from Member for this facility,
employer contributes for this
Nominee is nominated by the member through
declaration at his office

7. How to become EPF Member
 To become EPF member, you have to work in an
establishment which is covered under EPF
 If 20 or more employees are working in the
establishment, EPFO will cover that establishment
 If Employer and Employees desires, an establishment
can opt for EPF coverage with employees less than 20

8. How to withdraw money from EPF
You can withdraw total money from EPF Account,
when you resign or retire & apply for settlement of PF
You can withdraw partially or get partial advance for
some admissible purposes during your service

9. How to get Pension
 If you have attained the age of 50 years or more
 Completed a total service of 10 years or more
 Not getting any other EPF Pension
 You have to apply to the EPF Office through your last
employer for Pension

10. When You Can Apply for Pension
1. On superannuation
- At 58 years’ age or more and atleast ten years of service
2. Before superannuation
- Age between 50 and 58 years and at least ten years of
service,
- Member should not be in service
3. Death of the member, while in service or Death
while not in service
4. Permanent disability
No pensioner can receive more than one EPF Pension

11. How to settle EPF account
• When you resign or retire from an establishment and
apply for settlement of PF
• If the member dies, Family members/Nominee have to
apply for settlement of PF

12. Employees' Deposit Linked Insurance (EDLI)
• On death of a member, the Family Members or
Nominee can claim for EDLI Benefit
• Maximum amount payable is Rs. 60,000/-
• The nominee(s) have to apply through the Employer
• No amount is taken from the Member for this facility
• Employer contributes for this
• Average PF Balance, salary and service are the factors
considered for the calculation of this amount

13. Advances/ Withdrawals from EPF for
following purposes :
Marriage
Education
Medical Treatment
Purchase or construction of Dwelling house
Repayment of Housing Loan
Purchase of Plot
Addition/Alteration of House
Repair of House
Lockout in company
Withdrawal Prior to Retirement
Other Advances