EPF Claim Status

Team AckoAug 23, 2024

EPF (Employee Provident Fund) is a government-mandated savings scheme in which employees and their employers contribute a portion of the employee's salary to build a retirement fund. It ensures financial security after retirement for the employee. This comprehensive guide covers various aspects of checking EPF claim status. Below are the online and offline methods, necessary documents, status stages, and the appropriate steps if the status remains stagnant. It's a valuable resource for anyone engaging in or planning to make an EPFO claim.

Contents

• How Does EPF Work?
• Eligibility for EPF
• Details You Will Need to Check EPFO Status
• Stages of EPFO Claim Status
• Online Methods for Checking EPF Claim Status
  • EPFO Portal
  • UAN Member Portal
  • UMANG Portal
• Offline Methods for Checking EPF Claim Status
  • Missed Call Method
  • SMS Method
• Steps to File a Grievance Report Online
• EPF Benefits
  • Retirement Savings Pool
  • Capital Growth
  • Tax Benefits
  • Emergency Financial Cushion
  • Convenient Early Withdrawal
• Wrapping up!
• Frequently asked questions

How Does EPF Work?

• EPF functions as a retirement savings system where employees and employers contribute 12% of each employee's salary into a dedicated fund. 

• The employee's PF contribution is deducted from their salary and combined with an equal contribution from the employer. 

• These funds accumulate over the years, providing financial stability and a pension-like benefit to the employee upon retirement.

• Employees having an EPF account can withdraw 90% of the provident fund amount one year before retirement.

Eligibility for EPF

• To participate in the Employee Provident Fund scheme, individuals need to satisfy these criteria:

• The EPF program is accessible to workers across Public and Private Sectors, making it available to all employees.

• Organisations with a staff count of at least 20 must provide EPF benefits to their employees.

• Upon enrolling in the EPF scheme, employees gain access to various insurance and pension benefits.

Details You Will Need to Check EPFO Status

Before delving into the process of verifying EPFO claim status, individuals should have the following information on hand:

• Universal Account Number (UAN)

• Details of EPF Regional office

• Details of employer

• Extension code (possibly required)

Stages of EPFO Claim Status

To comprehend the progression of an EPFO claim, let's examine the different stages involved:

• Payment Under Process: This status indicates that the claim is in progress. The status changes to "Settled" once the funds are transferred to the employee's bank account.

• Settled: This status signifies that EPFO has approved the claim and successfully moved the funds to the employee's bank account.

• Rejected: This status indicates that the employee's claim has been denied, possibly due to delayed submission of a properly signed claim, signature discrepancies, or mismatched details.

• Not Available: This status implies that the authorities are yet to process the claim.

Online Methods for Checking EPF Claim Status

For individuals seeking to withdraw funds from their PF account, the claim status can be checked online through the following methods:

EPFO Portal

Follow these steps to check the EPFO claim status via the EPFO portal:

a. Visit the EPFO portal.

b. Locate the "Services" option in the menu bar.

c. Select the "For employees" option from the available tabs.

d. Navigate to the "Service" section on the subsequent page.

e. Click on the "Know Your Claim Status" option, which leads to the passbook application.

f. Provide your UAN, password, and Captcha code.

g. Select and input the "member ID."

h. View the claim status by clicking "View Claim Status."

UAN Member Portal

The UAN member portal also allows claim tracking. Here's how:

a. Log in to the UAN member portal using your UAN and password.

b. Click on "Online Services" on the page.

c. Select "Track Claim Status."

d. Enter withdrawal details to view the claim status.

UMANG Portal

The UMANG portal provides an additional avenue for checking PF status:

a. Visit the UMANG official site and find the EPF options.

b. Click on "Employee Centric Services."

c. Choose the "Track Claim" option.

d. Enter your UAN number and select "Get OTP."

e. After OTP verification, select "Login."

Upon completing these methods, you will receive details regarding the claim type, tracking ID, claim date, and status.

Offline Methods for Checking EPF Claim Status

While online methods are preferred, offline options are available. Consider the following alternatives:

Missed Call Method

Give a missed call to 011-22901406 (toll-free) using your registered mobile number. After the call disconnects, you will receive a message with the claim status if your bank account, UID, and PAN details are updated in your UAN account.

SMS Method

Send an SMS to 7738299899 from your registered UAN portal number. The format should be "EPFOHO UAN LAN," where UAN is your Universal Account Number and LAN is your preferred language (e.g., ENG for English).

Steps to File a Grievance Report Online

If your EPFO claim status shows no progress, file a grievance report with EPFO using the following steps:

• Visit the official EPF portal.

• Find the "Register Grievance" option.

• Choose your status category (e.g., EPS pensioner, employer, PF member) or select "Others" if specific numbers are unavailable.

• Retrieve your personal details by selecting "Get details."

• Click "Get OTP" and verify with your personal information.

• Choose your grievance category, provide a description (with proof if available), and click "Add" and then "Submit."

EPF Benefits

Here is a list of EPF benefits to a member employee through the scheme:

Retirement Savings Pool

Approximately 8.5% of the employer's contribution is allocated to the Employee Pension Scheme, ultimately leading to a robust retirement savings pool over the long term. This corpus provides retirees with a comforting sense of financial security and autonomy.

Capital Growth

The PF online scheme offers a predetermined interest rate on funds held with EPFO. Furthermore, rewards granted upon maturity support employees' savings and increase capital growth.

Tax Benefits

By Section 80C of the Indian Income Tax Act, 1961, employees' contribution to their PF account qualifies for tax exemptions. Additionally, earnings generated through EPFO schemes are exempt from taxation, with a maximum limit of Rs. 1.5 Lakh.

Emergency Financial Cushion

Life's uncertainties are inevitable, making it essential to be financially prepared for unforeseen situations. An EPF fund can be an emergency financial cushion when individuals require immediate funds to address unexpected circumstances.

Convenient Early Withdrawal

EPF India members have the privilege of making partial withdrawals. It allows them to access funds from their PF accounts for specific needs such as higher education, home construction, wedding expenses, or medical treatment.

Wrapping up!

The primary purpose of an employee provident fund is to ensure employees have a significant amount of savings during their retirement. For employees, this fund can come in handy to deal with the rising living costs and meet other expenses. Moreover, knowing that a part of one’s earnings is being regularly saved and generating interest provides peace of mind, particularly for people concerned about future financial stability. Hence, a provident fund is a significant investment tool critical in holistic financial planning. 

Frequently asked questions

Below are some of the frequently asked questions on EPF Claim Status

How to calculate the EPF contribution if an employee is paid daily or partially?

The salary paid throughout the month helps to find the EPF contribution of an employee.

How long does EPFO take to settle a claim?

An EPF settlement may take 5 to 10 days.

How does the PF amount from defaulting members get recovered?

The methods used to recover the PF amount from the employer could be attachment of bank accounts, attachment and sale of properties, realisation of debtors' dues, Prosecution under Section 14, and detention and arrest of the employer.

Who approves an EPF claim?

Their specific employer should approve the EPF claim filed by their employee.

Can the employer stop an employee's EPF?

An employer cannot control the money in an employee's Provident Fund account.

What are the age criteria for employees to join EPF?

For employees, there are no age restrictions to join the Provident Fund. But they cannot get the benefits of the Pension Fund if they have already crossed 58.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet, and is subject to changes.

Recent

Articles

Netherlands Work Visa: All You Need to Know for Indian Applicants

TeamAcko Nov 13, 2024

Delhi Set to Roll Out WhatsApp-based System for Seamless Challan Payments

TeamAcko Nov 8, 2024

Seychelles Visa for Indians: A Guide

TeamAcko Oct 25, 2024

The UK Youth Mobility Visa: A Summary

TeamAcko Oct 25, 2024

Australian Golden Visa Scheme: All that You Wanted to Know

TeamAcko Oct 25, 2024

All Articles

Topics

Life Insurance General

Life Insurance Comparisons

Life Insurance General

Term Insurance types

Term Insurance types

All Topics

Want to post any comments?