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In this video of Josh Money, Our Expert Mukul Malik aka Asset Yogi is talking about one of the best Government Schemes which is also a Retirement Product, EPF or Employee Provident Fund.
The Employees’ Provident Fund Organisation (EPFO) is a non-constitutional body that promotes employees to save funds for retirement. The organisation is governed by the Ministry of Labour and Employment, Government of India and was launched in 1951.
The schemes offered by the organisation cover Indian workers and international workers (from countries with whom the EPFO has signed bilateral agreements).
Objectives of EPFO
Given below are the main objectives of the EPFO:
To ensure every employee has only one EPF account.
Compliance must be facilitated easily.
Make sure organisations follow all the rules and regulations set up by the EPFO on a regular basis.
To ensure that online services are reliable and to make improvements in their facilities.
For all member accounts to be accessed online easily.
Claim settlements to be reduced from 20 days to 3 days.
Promotion and encouragement of voluntary compliance.
Universal Account Number (UAN)
All subscribers of EPF can access their PF accounts online and perform functions like withdrawal and checking EPF balance. The Universal Account Number (UAN) makes it convenient to log in to the EPFO member portal.
The UAN is a 12-digit number allotted to each member by EPFO. The UAN of an employee remains the same even after he/she switches jobs. In the event of a job change, the member ID changes, and the new ID will be linked to the UAN. However, employees must activate their UAN in order to avail themselves of the services online.
You can get your UAN through your employer. In case you are unable to do so, you can easily log in to the UAN portal ([ Ссылка ]) with your member ID and find the UAN.
Official Website of EPF: [ Ссылка ]
What is Employee Provident Fund (EPF) Scheme?
Interest Rate of EPF
How to withdraw money from EPF ?
What is Employers contribution in EPF ?
What is Employees contribution in EPF ?
How to check EPF Balance ?
How to claim EPF amount?
What is Universal Account No. (UAN) in EPF ?
EPF (Employee Provident Fund)| EPF Complete Details @Asset Yogi | Provident Fund Details | Josh Money
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