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Ten Must Know facts about EPF

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epf facts

1) How to check EPF balance?

Employee provident fund (EPF) is great retirement product for all employees. For some, it is mandatory and for some others it is voluntary. Everyone who has an EPF account with EPFO would like to know the current balance. EPFO provides option for all employees to check their EPF balance online.

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2) How to claim amount from PF?

Not everyone can wait till retirement to withdraw the EPF amount accumulated. There would be circumstances where you might have to dip into the retirement corpus accumulated under the scheme. EPFO allows for partial withdrawals subject to certain conditions.

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3) What happens to inactive EPF account?

EPF account becomes inactive if no contributions are made to it for 36 consecutive months. It can happen when you shift jobs or if the company winds up its operations. What happens in such instances?

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4) What is an E-Passbook?

E-passbook is a wonderful facility provided to all employees who hold EPF account. It enables the employees to check balance online, keep track of transactions, etc.

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5) Is EPF withdrawal taxable?

EPF withdrawal is usually tax free. However, if it is done before 5 years of continuous service, it is taxable as per the tax slab of the employee in the year of withdrawal.

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6) EPF vs PPF – Which is better?

EPF and PPF are popular retirement products with variable interest rates as per the prevailing rate of government securities. Though EPF scores in terms of employer contribution, PPF is better in terms of tax benefits.

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7) EPF vs NPS – Which is better?

The benefits of EPF are known for long. However, NPS is the latest sensation in the market. For the first time, you would get an equity exposure up to 50%. It is also the cheapest retirement product available.

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8) Which is the best savings scheme – EPF, PPF or NPS?

With 3 investment options for retirement – EPF, PPF and NPS, which one should be chosen? Which is the best among these? Here is a comparison of all 3 based on 7 factors.

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9) Top 10 EPF FAQs

Here is a compilation of most frequently asked questions on EPF such as interest rates, contributions, withdrawals, etc.

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10) Eight hidden facts about EPF

There are a lot of hidden facts about EPF such as nominations, pension, insurance, etc. Such information could be very useful for every employee.

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  • Sudheer Yadav

    Nice ARTICLE ON EPF people have to do a lot of search to get these detail of EPF. Please let me In my website http://www.guruofmovie.com 5 people are working on salary base can I start epf for all of them

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