Delhi, India (PressExposure) January 29, 2012 -- Much awaited tool to know your EPF Balance has been launched by Employees' Provident Fund Organisation (Ministry of Labour & Employment Government of India) on 1st July 2011.
This tool is not full fledged application to manage entire EPF portfolio online.But, It will send SMS to your mobile with last updated EPF information on given mobile no.This tool is available only for Delhi (North), Delhi (South), Laxmi Nagar (Delhi), Gurgaon, Faridabad, Karnal and Bangalore EPFO offices.Later all other EPFO offices will be added.
Your PF account details including the latest account balance can now be checked online. Read on for more details. The PF office is supposed to give a statement of your PF account to your employer every year, and your finance / accounts department is supposed to hand that over to you. But many employees never get this yearly statement. So, how can you find your PF account balance?
The Employees' Provident fund is managed by an organisation called the Employees' Provident Fund Organisation (EPFO), which is one of the largest provident fund institutions in the world in terms of volume of transactions. The organisation came into being in 1952, following the Employees' Provident Funds & Miscellaneous Provisions Act (EPF & MP Act), 1952.
All workers whose emoluments exceed Rs.6,500 per month have an option to join the scheme with the consent of the employer. The employee is eligible for membership of EPF from the day he joins such a company which is covered under the EPF and MP Act, 1952. The rate of contribution payable by the member is fixed at 12% of his emoluments - basic pay, DA, cash value of food concession and retaining allowance up to a maximum of Rs.6,500 per month. Voluntary higher contributions are also acceptable at the joint request of the member and the employer.
The employee has to declare his previous employment details in Form No.2 (containing the family particulars and nominations) through the employer and the employer submits the same to EPFO.
The employee can nominate any one or more members of his family to receive the Provident Fund in case of his death. In case he does not have a family, he can nominate any other person. The nomination can be changed by the employee whenever he wishes to do so, within the rules of the EPFO.
Please check EPF Balance to know the balance in your EPF Account up to the date, the accounts are updated, which also includes the latest approved transactions of settlement / advances / transfer-in / transfer-out, if any.
Select the EPFO office where your account is maintained and furnish your PF Account number.
Leave the extension field blank, in case your account does not have one.
You will be asked to enter your name and mobile number. The given mobile number will be recorded along with the PF Account Number.
On successful submission of above information, the details will be sent through SMS to the given mobile number. Check your EPF Balance online.