Provident Fund
1. What is Provident Fund?
Provident Fund is the mandatory contribution of 12% of Basic salary from both the employer and the employee towards the fund that is maintained by the Regional Provident Fund (RPF) Office.
2. How is my Provident fund calculated?
While the employee’s contribution goes in entirety to the Provident Fund, the employer’s contribution gets divided into the Provident Fund (3.67%) and the Pension Fund (8.33%). This contribution is made on a monthly basis. As per the prevalent Provident Fund Act, the maximum contribution from the employer towards the Pension Fund is 8.33% of your basic salary, however not exceeding INR 541/- per month. This will not appear on the online contribution sheet as this is fully managed by Regional Provident Fund Commissioner. However, the differential amount (if any) exceeding INR 541/- from the Employer’s Pension Fund will be added back to the employer’s contribution to the Provident Fund.
Eg 1: Employee A: Basic Salary = INR 20,000
Employee’s Contribution towards Provident Fund = Basic Salary *12% = INR 2400
Employer’s Contribution towards Pension Fund = Basic Salary *8.33% = INR 1666 OR INR 541 (whichever lower) = INR 541
Employer’s Contribution towards Provident Fund = Basic Salary *3.67%= INR 734 + INR 1125 (differential amount exceeding INR 541) = INR 1859
Eg 2: Employee B: Basic Salary = INR 5,000
Employee’s Contribution towards Provident Fund = Basic Salary *12% = INR 600
Employer’s Contribution towards Pension Fund = Basic Salary *8.33% = INR 416.5 OR INR 541 (whichever lower) = INR 416.5
Employer’s Contribution towards Provident Fund = Basic Salary *3.67%= INR 183.5 + 0 (differential amount exceeding INR 541) = INR 183.5
3. How is the rate of interest calculated on Provident Fund?
There is a rate of interest that is fixed for the Employees' Provident Fund every year during March/April. The interest is credited to the members account on monthly running balance with effect from the last day in each year and is maintained by the Regional Provident Fund (RPF) Office and the account statement submitted to the employer annually. The rate of interest differs every year.
4. How can I settle / claim the amount accumulated into my Provident Fund account?
You will be able to settle your Provident Fund amount on the separation from an entity / organization; an employee will be able to either Transfer / withdraw the accumulated amount in the Provident Fund as per the Scheme.
Employee PF Withdrawal
1. When can I apply for PF withdrawal?
You can apply for withdrawal after 60 days from the date of leaving the organization.
2. What is form 19?
Form 19 is the form that one would need to fill and submit to withdraw the Provident Fund
3. Where can I find these forms?
Download Forms
4. How many signatures does a member have to affix on the form 19?
You need to affix three signatures in the form
5. Who will settle Provident Fund?
Provident Fund is maintained with the Government and will be settled by the Regional Provident Fund Commissioner(RPFC).
6. What is the process being followed for withdrawal?
Your application will be submitted to the PF office for settlement after 60 days of your last working day. You may request the HR Helpdesk for the acknowledgement copy for follow up with the PF office.
7. What are the mandatory requirements to be followed for payment through cheque?
The member has to open an account in the nationalized bank, scheduled bank. He has to furnish the details of bank a/c no. with the full address of the bank in application form & enclose a cancelled cheque leaf for verification of bank A/c details. Note: The Account should not be a joint A/c. or not any other account except the claimant's.
8. How will the employee come to know the form is received by PF dept.
EPFO has launched a SMS based service for the benefit of all the stakeholders; write your contact number on top of the application, so that the SMS will be sent.
9. How can the employee withdraw the unclaimed PF amount after a long time?
There is an additional document required for PF settlement from the employee who left the service more than 3 year back, you need to submit the following documents along with form-19 & 10c
1. Affidavit Cum Indemnity Bond (format enclosed)
2. Copy of Bank pass Book or bank statement
3. Residential Address Proof
Employee Pension Scheme Withdrawal
1. When can I apply for withdrawal?
You can apply for withdrawal after 60 days from the date of leaving the organization. Pension Contribution is paid only if the contribution to the same has exceeded 6 months.
2. What is form 10-C?
This is form for you to withdraw Pension Fund which is being contributed by the Employer
3. Where can I find these forms?
Download Forms
4. How many signatures does a member have to affix?
You need to affix two signatures in the form. .
5. Who will settle Pension Contribution?
Pension Fund is maintained with the Government and will be settled by the RPFC
6. What is the process being followed for withdrawal?
After completion of 60 days your application will be submitted to the PF office for settlement. You need to request the HR for the acknowledgement copy for follow up with the PF office
Transfer of PF
1. When can I apply for a transfer of my Provident Fund?
If you are member of PF in your previous establishment and wish to have the PF transferred to your account at MphasiS, you can apply for transfer in Form 13 to be filled in duplicate. Forms will be accepted at the Help desk days.
2. What is form 13?
This is form for you to transfer your PF contribution from the previous company to the present company
3. Where can I find these forms?
Download Forms
4. What are the details that are required to fill the form?
You need to obtain the following details from your previous employer.
i. Your Provident Fund Number & your pension Number.
ii. Correct postal address of the establishment.
iii. Correct address of the Regional Provident Fund Commissioner where your Provident Fund is maintained(This is very important)
5. How many signatures does a member have to affix?
You need to affix one signature
6. What is the process being followed for transfer?
After 30 days of your joining you will be allotted Provident Fund number and your application will be submitted to the PF office & one to your previous company. You will be mailed a scanned copy of application filed at PFO for you to follow up with your previous employer.
7. Whom do I need to contact for details?
Your previous employer
8. Reasons for delay?
Transfer applications are sent to the Regional Provident Fund Commissioner to initiate the process. The process is that the RPFC in turn forwards it to the previous employer RPFC which could be at different states. Who in turn sends it the previous employer for requirement of contribution details? The internal process between various RPFC & the previous employer is time consuming. These are some of the main reasons for delay in transfers.
9. How will I know if my PF has been transferred
This will be known only when the PF slips for the year are issued by the PF office. However the Provident Fund Organization is making all its efforts to go online and provide the member the facility of knowing the status.
PF Nomination
1. What is form 2?
This is form for you to nominate your PF contribution in case of death.
2. Whom do I nominate?
ProvidentFund (Part A)
In case of a male member: the wife, his children whether married or unmarried, and dependent parents of the member, and the widow and children of a deceased son of the member.
In case of a female member: her husband, her children whether married or unmarried, her dependent parents, her husband's dependent parents and her deceased son's widow and children.
Provident Fund (Part B)
In case of Married member
Spouse & Children
In case of unmarried member
Father/ Mother
3. Can member change his/her nomination?
He/She can change his/her nomination whenever he/she decides within the framework of rules for such nomination. In other words if he/she has a family, nomination should be in favour of a member(s) of the family. If he/she has no family he/she can nominate anyone he/she wishes.
