The document discusses the various benefits provided to members under the Employees' Provident Fund (EPF) schemes in India. It outlines the three major types of benefits: 1) Provident Fund benefits which include employer contributions and interest accrual, 2) Pension benefits such as pension for members and families, and 3) Death benefits such as provident fund payouts and insurance payouts to families. It also provides details on how to become an EPF member, withdraw funds, get a pension, transfer accounts, and avail advances.

1. Benefits to Members under EPF SchemesSatyam @HR,PM&IR from BHU Varanasi. LLB.Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

2. Major Benefits• Provident Fund Benefits • Pension Benefits • Death Benefits Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

3. 1. Provident Fund benefits1. Employer also contributes to Members PF @ 12% ( 10% in case of sick industrial co., anyestablishment having accumulated loss equal to its entire paid up capital and any establishmentin Jute Industry, Beedi Industry, Brick Industry, Coir Industry and Gaur Gum Factories. ) 2. EPFO guarantees the Employer contribution and credits interest at such rates as determinedby the Central Government. 3. Member can withdraw from these accumulations to cater to financial exigencies in life - Noneed to refund unless misused.4. On resignation, the member can settle the account. i.e., the member gets his PF contribution,Employer Contribution and Interest. Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

4. 2. Pension Benefits1. Pension to Member 2. Pension to Family (on death of member).3. Scheme Certificate• This Certificate shows the service & family details of a member • This is issued if the member has not attained the age of 58 while leaving an establishment and he applies for this certificate • Member can surrender this certificate while joining another establishment and the servicestated in the certificate is added with the service he is gaining from the new establishment. • After attaining the age of 50 or above, the member can apply for Pension by surrenderingthis scheme certificate (if total service is atleast 10 years) • This is a better choice than Withdrawal Benefit, as a member dies holding a valid schemecertificate, his family will get pension (Death when NOT in service) CONTINUE------ Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

5. Pension Benefits4. Withdrawal Benefit • If not eligible for pension, member may withdraw the amount accumulated in his pension account • The calculation of this amount is based only on (i) Last average salary and (ii) Service (Not based on actual amount available in Pension Fund 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. Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

6. 3. Death Benefits1. Provident Fund Amount to Family (or to Nominee) 2. Pension to Family (or to Parent / Nominee) 3. Capital Return of Pension 4. Insurance (EDLI) amount to Family (or to Nominee) • No amount is taken from Member for this facility. Employer contributes for this. 5. Nominee is basically determined as per the information submitted by the member at this office through FORM-2Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

7. How to become a EPF MemberYou, as your own, can not become an EPF Member. To become an EPF member, you have towork in an establishment which is covered under EPF and MP ACT, 1952. • If 20 or more employees are working in an establishment, EPFO will cover thatestablishment. • If Employer and Employees of an establishment desires, that establishment canvoluntarily opt for EPF coverage even if the employees employed therein is less than 20. • If your establishment is not covered and atleast 20 employees are working in thatestablishment, you can approach EPFO to cover it.Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

8. How to withdraw money from EPFTo withdraw money from EPF Account, you have to either: • Resign or retire from the establishment and apply for settlement of PF in Form-19 • Apply for advance for some admissible purposesPpt4hr.blogspot.com. By satyam.pmir@gmail.com

9. How to get Pension• If you have attained the age of 50 years or more and • If you have completed a total service of 10 years or more and • If you are not getting any other EPF Pension Then you have to apply in Form-10D at the EPF Office where you last worked through your last employer.If you want to draw pension from a different place, you have to furnish appropriate Bank / Post Office address in the application form.Pension is distributed through Post Offices or through some designated banks only (eg: IndianBank, SBI, Indian Overseas Bank, HDFC Bank, ICICI and UTI Bank )Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

10. Four situations when Pension can be applied for:1. On superannuationAge 58 years or More and atleast ten years ofservice The member can continue in service while receivingthis pensionOn attaining 58 Years of age, a EPF member cease tobe a member of EPS automatically2. Before superannuationAge between 50 and 58 years and at least tenyears of service The member should not be in service3. Death of the member Death while in service or Death while not in service4. Permanent disabilityPermanently and totally unfit for the employment whichthe member was doing at the time of such disablement• No pensioner can receive more than one EPF Pension. Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

11. How to settle EPF account • You have to resign or retire from the establishment and apply for settlement of PF inForm-19. If the exit is before 55 years of age, the member should not work in any coveredestablishment for a period of 2 months from the exit date.• If the member dies, Family members/Nominee have to apply in Form-20 for settlement ofPF (In case of death, apply in From-10D and Form-5IF for Pension and EDLI also)Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

12. How to transfer my account / What to do if I join another establishmentYou have to apply in From-13(R) through the NEW Employer at the EPF Office from which transfer is sought clearly stating New and Old EPF Numbers. You have to obtain new EPF Number from your New Employer. New EPF Number will be allotted by New Employer, not by EPFO.Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

13. Employees' Deposit Linked Insurance (EDLI) Scheme On death of a member, the Family Members or Nominee (whoever has the entitlement to claim Provident Fund amount) can claim for EDLI Benefit. Maximum amount payable is Rs. 60,000/-.The nominee(s) have to apply in From-5IF 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 amountPpt4hr.blogspot.com. By satyam.pmir@gmail.com

14. DO'S FOR A MEMBER:1) While joining an establishment, furnish details of previous employment if any, with previous Provident Fund a/c number and scheme certificate.2) In case of existing Provident Fund/ Pension a/c, apply for transfer of previous a/c number to the present a/c number.3) Ensure that employer furnishes Form-5 with details of previous Provident Fund a/c no. toEmployees' Provident Fund Organisation.4) Execute Form-2, with details of self, nominee for Provident Fund and pension and details offamily, so that it is forwarded to Employees' Provident Fund Organisation by the employer.5) Ensure that particulars furnished are correct in all respects.6) Ensure that enrolment to Employees' Provident Fund/ Employees' Pension Scheme is doneimmediately on the date of joining the establishment.7) Ensure that Provident Fund is deducted at statutory rate from the total wages i.e. basic, D.A.and retaining allowance if any.Continue…………………Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

15. DO'S FOR A MEMBER:8) If desirous of enhancing rate of contribution, inform your willingness with the higher rate opted and forward to Employees' Provident Fund Organisation through employer and allow employer to deduct at enhanced rate from the wages.9) If the wages drawn is more than Rs. 6500/-, intimate your willingness to contribute on the whole salary as per higher rate to Employees' Provident Fund Organisation through employer.Employer can also contribute on the whole amount drawn as wages under intimation to Employees' Provident Fund Organization.10) Check up periodically with the employer that contribution and other charges are paid to Employees' Provident Fund Organisation and ensure it's correctness by verifying the Form-3A (contribution card) maintained by the employer.Ppt4hr.blogspot.com. By satyam.pmir@gmail.com

16. DON'TS FOR A MEMBER:1) Don't give false declaration and incorrect particulars to Employer and Employees Provident Fund Organisation.2) Don't fall victim to middleman/ agents. Please Contact PRO for Doubts / Clarifications if any.3) Don't allow Employer to deduct his own share of contribution or administrative charges payable by him from your wages.4) Don't be a party to misclassification of allowances of your wages, with a view to avoid payment of Provident Fund.

17. Advance/ Withdrawals may be availed for the following purposes :• Marriage / Education • Treatment • Purchase or construction of Dwelling house • Repayment of Housing Loan • Purchase of Plot • Addition/Alteration of House • Repair of House • Lockout • Withdrawal Prior to Retirement • Other Advances

18. For Marriage / Education

19. For TreatmentContinue…

20. For Treatment

21. Purchase or construction of Dwelling house

22. • Repayment of Housing Loan Continue………….

23. Repayment of Housing Loan

24. For the purchase of site/ plot

25. Addition/alteration of house

26. Repair of house

27. Lockout or closure of the establishments

28. Withdrawal prior to retirement

29. OTHER ADVANCES -ADVANCE IN ABNORMAL CONDITIONSEligibility- · Certificate of damage from appropriateauthority.· State Govt declaration.Eligible Amount-- Rs. 5000/- or 50% of member’s own share of contribution (To apply within 4 months)Form- No.31Documentary Support- Certificate from theAppropriate Authority.

30. ADVANCE TO MEMBER AFFECTED BY CUT IN THE SUPPLY OF ELECTRICITYTypes of Benefit- Grant of advance to members affected by cut in the supply of electricity.Eligibility-- The advance may be granted only to a member whose total wages for any one month commencing from the month January 1973 were 3/4th or less than 3/4th of wages for month.Eligible Amount-- Wages for a month OR Rs.300/-Form- No.31Documentary Support- Certificate from State Govt.regarding cut in the supply of electricity.

31. GRANT OF ADVANCE TO MEMBERS WHO ARE PHYSICALLY HANDICAPPEDTypes of Benefit- To Physically Handicapped member for purchase of an equipment required to minim the hardship on account of handicap.Eligibility- Production of medical certificate from a competent medical practitioner to the effect that he is physically handicapped.Eligible Amount- Basic wages+DA for six months or own share of contribution with interest or cost of equipment which ever isleast.NOTE• The amount of advance/withdrawal is not required to be refunded under normal circumstances. If the amount is not utilised, the same should be refunded with penal interest • A fixed minimum balance in the account will be kept before arriving at the amount of advance admissible subject to the above conditions • For calculation/ computing the period of membership U/P 68B, 68BB, 68K, total service exclusive of periods of break under the same employer before the scheme is applied to him, as well as period of membership of the fund is always included

32. THANK YOU.ppt4hr.blogspot.com. satyam@HR