What is Provident Fund?It’s a kind of retirement scheme for all salaried employees. Minimum part of a salary is being saved for the PF scheme. Here both employer and employees have to contribute.
What is the PF percentage deducted for future savings?12% of PF Wages from both employee and employer is determined for employee retirement savings. This twelve percent of the amount deducted only from your basic salary amount.
What is the percentage amount deducted from both employee and employer?Employees/working people give their
12% contribution whereas employer give
8.33% for Pension Fund & remaining
3.67% goes to Provident Fund.
What is ESIC?
Employee State Insurance Corporation is an autonomous firm and a self-financing company for Indian workers runs under the Ministry of Labour and Employment, Government of India.
What are the documents required for PF registration?
- PAN Card
- Cross Cancelled Cheque
- Address Proof
- Consent Letter
- Employment Details
What are the types of PF withdrawal?
- PF final settlement
- PF partial withdrawal
- Pension withdrawal benefit
What is UAN?
UAN stands for Universal Account Number assigned by EPFO. With this UAN, one can look into their member identification numbers. A person can have only one unique UAN but many PF account numbers.
What is EPFO?
Employees' Provident Fund Organisation - An organization dealing with Provident Fund Scheme, a Pension Scheme and Insurance Scheme, it was formed under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952.
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