Blog

2021

Various Forms under Employees’ Provident Fund

Various Forms under Employees Provident Fund

EPFO is one of the world's largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken. At present it maintains 19.34 crore accounts pertaining to its members.

The Employees' Provident Fund came into existence with the promulgation of the Employees' Provident Funds Ordinance on the 15th November, 1951. It was replaced by the Employees' Provident Funds Act, 1952. The Employees' Provident Funds Bill was introduced in the Parliament as Bill Number 15 of the year 1952 as a Bill to provide for the institution of provident funds for employees in factories and other establishments. The Act is now referred as the Employees' Provident Funds &

Miscellaneous Provisions Act, 1952 which extends to the whole of India. The Act and Schemes framed there under are administered by a tri-partite Board known as the Central Board of Trustees, Employees' Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.

The Central Board of Trustees administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organized sector in India. The EPFO is under the administrative control of Ministry of Labour and Employment, Government of India The Board operates three schemes - EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI).

Forms under EPF:

Various forms have been prescribed the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 for different purposes as such as new employee registration, Nomination, Account Transfer, withdrawal of PF amount etc. These forms are described below:

EPF Form 5 – New Employees Registration:

  • EPF Form 5 has to be filled by the employer to submit details of all new employees joining the organization who are eligible for EPF for the first time.
  • This form has to be submitted by 15th of every month. In case there is no new joiner, the employer has to mention “NIL” in the form.

EPF Form 2 – Declaration and Nomination Form for EPF & EPS:

  • Form 2 is filled by a member for declaration and nomination for the EPF and EPS accounts.
  • This form can be filled any number of times and mandatorily after the marriage of the employee.
  • It can be filled both online (through the EPF Member Portal) and offline.

EPF Form 11 – Auto Transfer of EPF:

  • EPF Form 11 has to be submitted by the member when he switches jobs for transferring the EPF amount from the previous account to the new account.
  • The UAN will remain the same but the Member ID and the PF account number changes.

EPF Form 13 – EPF Account Transfer:

  • A member of EPFO has to fill Form 13 for transferring the old EPF account to the new PF account.
  • However, this form has been incorporated in the Composite Claim Form where the account transfer can be applied directly at the time of switching the job.

EPF Form 10C – For claiming Withdrawal Benefits/Scheme Certificate of EPS:

  • EPF Form 10C is used for the withdrawal of pension corpus accumulated in the member’s EPS account.
  • You can fill this form online (through the EPF Member Portal) as well as offline.
  • It is worth noting here that the pension amount can be withdrawn only till the service period is less than 10 years.
  • This form is also used for getting the EPS Scheme Certificate (which is used for transferring your EPS balance from one employer to another).

EPF Form 31 – Advances / Withdrawal:

  • EPF Form 31 is used for partial withdrawal of funds from the EPF account.
  • An employee can withdraw funds from his corpus depending upon the purpose and years of service provided in the formal sector.
  • This form can be filled offline and online (through the EPF Member Portal).

EPF Form 19 – Final Employees’ Provident Fund Settlement:

  • EPFO members can claim for Final Settlement of old EPF accounts by filling Form 19.
  • The form can be filled both online, (through the EPF Member Portal) as well as, offline.
  • The member also gets the option to choose the remittance (mode of payment by cheque, ECS, etc.) method in this form.

EPF Form 20 – EPF Withdrawal in case of Death of a Member:

  • EPF Form 20 is filled by nominees/heirs of a deceased member for the final settlement of the EPF account.
  • In case the nominee is a minor/lunatic, the guardian has to fill the form on his behalf.
  • The money can be remitted in the bank account of the beneficiary directly or through money order.

Form 15G – Declaration for no TDS deduction on Interest on EPF:

  • Form 15G has to be submitted by a member to save tax on the interest earned from EPF.
  • It can also be submitted in case the member withdraws the EPF corpus before 5 years of service and the amount is more than ₹ 50,000.
  • In case of senior citizens, Form 15H has to be furnished in place of Form 15G.

EPF Form 10D – Pension Application after Retirement:

  • EPF Form 10D has to be filled by a member for availing pension benefits.
  • The member becomes eligible for a pension after completing 10 years of service in the formal sector.
  • This form is filled by the pensioner at the time of retirement.

EPF Form 5(IF) – Claim as per the EDLI Scheme:

  • This form is filled under Employees’ Deposit Linked Insurance Scheme (EDLI), 1976 to claim insurance benefits after the death of the member while in service.
  • In case the beneficiary is a minor, the guardian has to fill the form on his behalf.
  • In order to claim the benefits, the form has to be attested by the employer.
  • If it is not possible to get the attestation done by the employer, the form has to be attested by a gazetted officer.

EPF Form 14 – Buying LIC Policy:

  • EPF Form 14 is the application for financing a Life Insurance Corporation (LIC) policy from the Provident Fund account.
  • In other words, your LIC premium can be paid from your EPF account.
  • The applicant has to fill this form, get it attested by the employer and submit it to the EPF Commissioner.

 

 

Blog Archive


Financial Management