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- Cost of withholding PF contribution by ways of levying penalty u/s 14B & 7Q
will increase in relation to the cost of
borrowing money from the bank or in the market. This will seek to create an
environment that makes it cheaper to comply and expensive to under report or
non-report employment and contributions in a timely manner.
- Separate collection program will be designed and put in place that will
address the issue of collection of unpaid arrears. The program will be
entirely IT driven drawing information from the accounting function. Special
teams in designated EPF call centers that will chase all delinquent accounts
on a day to day basis.
- Special programs for extending the reach of EPF schemes over the
informal sector, migrant labour and service industry will be put in place to
ensure enrolment and transfer of benefits under the programs to such
categories of workers.
- Each EPF employee (task holder) will have the information required to
complete his/her task on his/her desktop terminals.
- Retooled book-keeping & accounting function will maintain reconciled
upto-date accounts in real time on a secure and shared database that will
support and be accessible to all program divisions.
- Record keeping and paper management will be organised along modern lines
with IT enabled indexing for archiving and retrieval. This effort will also
decongest EPF work places and improve the physical environment.
- Special HRD effort will enhance the knowledge and skill levels of our
existing officers & staff to help them adjust and absorb change in work
methods.
The objective in the creation of such a system is to register geometric
growth in the membership corpus of EPF/ improved customer client services.
SETTLEMENT OF EMPLOYEES' PROVIDENT FUND CLAIMS
SETTLEMENT UNDER
PARA 69-TO MEMBER:
THROUGH FORM
No.19
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Immediate settlement
without waiting period
of 2 months
|
Settlement only after
a waiting
period of two months
|
|
69(1)(a)
Retirement after
attaining 55 years of
age. |
69(1)(e)(i)
transfer of a non
retrenched employee from
a closed establishment
to uncovered
establishment. |
|
69(1)(b)
Retirement on account of
total and permanent
incapacity due to bodily
or mental infirmity . |
69(1)(e)(ii)
Transfer of an employee
from a covered
establishment to an
un-covered establishment
under the same employer. |
|
69(1)(d)
Termination of service
on retrenchment. |
69(2) Other cases
viz. Resignation,
Leaving service, etc. |
|
69(1)(dd)
Termination on V.R.S |
Note: For female members
leaving service for the
purpose of getting
married; waiting period
not applicable. |
|
69(1)(c) Migration
from India for permanent
settlement abroad or
taking employment
abroad. |
69(1)(e)(iii)
Members discharged &
retrenchment
compensation paid under
I.D. Act 1947.
|
Settlement under para 70:
(Accumulation of a deceased member) through Form No. 20
70(i) If a nomination exists, payment is
made to the nominee in accordance with Form 2(R). (Nomination and Declaration Form).
70(ii) If no nomination subsists, payment is to be made to every member of his
family (as defined under para-2(g) of Employees' Provident Fund Scheme 1952) in
equal share. For the purpose of this paragraph, a member's posthumous child, if
born alive , shall be treated as a surviving child, born before the member's
death.
But the following will not be eligible for any share, if other family members
are available to receive the accumulations.
- Major sons,
- Major sons of a deceased son,
- Married daughters whose husbands are alive,
- Married daughter of a deceased son whose husbands are alive.
70(iii) In cases where para 70(i), 70(ii)
, does not apply, the payment is to be made to the person who is legally
entitled to it, vide para 70(iii). In case there is no nominee and also there is
no person entitled to receive the amount, if the amount to the credit of the
fund does not exceed Rs. 10,000/-, the Commissioner may pay such amount to the
claimant after enquiry and after satisfying the title of the claimant.
When the payment is to be made to a minor, it
is payable to :
-
The Guardian appointed under
Guardian and Wards Act 1890 , failing (a), to
-
The Guardian appointed by the
member as per para 61(4A), failing (a),(b), to
-
To the natural guardian of the
minor, failing (a) (b) (c), to
-
To the person , considered to be
the proper person by the commissioner when the amount not exceeding
Rs.20,000/- or the person considered to be the proper person , by the
Chairman , C.B.T where the amount exceeds Rs. 20,000/- . Para-72(3)
When the payment is to be made to a lunatic
person , it is payable to:
-
The Manager appointed for the minor's
estate under Indian Lunacy Act ,1912 failing (a),
-
The natural guardian of the lunatic,
failing (a)(b),
-
To the person considered by the
Commissioner as proper person , amount not exceeding Rs.20,000/- or to
person considered by Chairman C.B.T as proper person amount exceeding Rs.
20,000/-. Para-72(3A)
Note: Maximum amount payable by money
order is Rs.2000/- and beyond that by cheque. If the amount is beyond Rs. 500/-,
the M.O. cost will be borne by the claimant.
Para 70(A):
If a person entitled to received a share
in the Provident Fund accumulations of a deceased member is charged with
committing the murder of the member or with abetting the crime, the share
payable to such person shall be retained till the case is finalised . If,
subsequently he/she is exonerated, the share will be paid to him/her. If such a
person is found guilty and convicted, the share will be paid equally to other
person(s) entitled to receive the accumulations.
WITHDRAWALS
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
|
The purchase of site for construction of house
|
5 Years of membership of the Fund (Minimum balance in member’s a/c
should be Rs. 1000/-)
* The purchase should be in favour of member or member & spouse.
|
l 24 months wages (Basic & DA)
OR
l Member’s own share of contribution + Company’s share of
Contribution with interest thereon
|
No.31
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A declaration from the member that, dwelling site or dwelling
house/flat or the house under construction is free from
encumberances and the same is under the title of the member or the
spouse (notification dated 25.2.2000) |
|
The Construction of
House |
5 Years of membership
of the Fund
(Minimum balance in member’s a/c should be Rs. 1000/-)
* The purchase should be in favour of member or member & spouse.
|
l 36 months wages (Basic+DA)
OR
l Members own share of contribution + Company’s share of
contribution with interest thereon
|
No.31
|
A declaration from
the member that, dwelling site or dwelling house/flat or the house
under construction is free from encumberances and the same is under
the title of the member or the spouse (notification dated 25.2.2000)
|
|
The purchase of
dwelling flat |
5 Year of membership
of the Fund
(Minimum balance in member’s a/c should be Rs. 1000/-)
* The purchase should be in favour of member or member & spouse.
|
l 36 months wages
(Basic+DA)
OR
l Members own share of contribution + Company’s share of
contribution with interest thereon |
No.31
|
A declaration from
the member that, dwelling site or dwelling house/flat or the house
under construction is free from encumberances and the same is under
the title of the member or the spouse (notification dated
25.2.2000) |
|
Additions,
Alterations or improvements to the dwelling house |
5 years from the date
of completion of dwelling house
|
12 months basic or
members own share of contribution with thereon. |
No.31 |
|
68 BB : REPAYMENT OF LOAN
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
|
Advance from the fund
for repayment of loan |
10 years membership
of the fund & member should have taken loan from Govt. Body |
36 month wages (Basic
+ DA)
OR
Members own share of Contribution + Company’s share of Contribution
with interest thereon. |
No.31
|
A certificate from
the lending authority furnishing the details of loan and outstanding
amount. |
68 J : ADVANCE FROM FUND FOR ILLNESS
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
|
Advance from the fund
for illness viz. hospitalisation for more than a month, major
surgical operation or suffering from TB, Leprosy, Paralysis, Cancer,
Heart ailment etc. |
Stay in Hospital at
least for a month |
6 moths wages (Basic
+ DA) |
No.31 |
A certificate from
the Medical Practitioner for hospitalisation or operation. |
68 K : ADVANCE FROM THE FUND FOR MARRIAGE
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
l Advance from the
fund for Marriage of self/son/daughter/ sister/brother etc.
l Advance from the fund for education of Son/Daughter |
l 7 years membership
of the fund & minimum balance in member’s account should be Rs.
1000/- |
l 50% of member’s own
share of contribution
|
No.31 |
Declaration by the
member which is attested by the employer. |
68L : ADVANCE IN ABNORMAL CONDITIONS
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
|
Grant of advance in
abnormal conditions, Natural calamities etc. |
l Certificate of
damage from appropriate authority.
l State Govt. declaration. |
l Rs. 5000/- or 50%
of member’s own share of contribution (To apply within 4 months)
|
No.31 |
l Certificate from
the Appropriate Authority. |
68 M : ADVANCE TO MEMBER AFFECTED BY CUT IN
THE SUPPLY OF ELECTRICITY
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
|
Grant of advance to
members affected by cut in the supply of electricity |
l The advance may be
granted only to a member whose total wages for any one month
commencing from the month of January 1973 were 3/4th or
less than 3/4th of wages for a month |
l Wages for a month
OR
l Rs.300/- |
No.31 |
Certificate from
State Govt. regarding cut in the supply of electricity. |
68 N : GRANT OF ADVANCE TO MEMBERS WHO ARE
PHYSICALLY HANDICAPPED
| Types of Benefit |
Eligibility |
Eligible Amount |
Form |
Documentary Support |
|
To Physically
Handicapped member for purchase of an equipment required to minimize
the hardship on account of handicap. |
Production of
medical certificate from a competent medical practitioner to the
effect that he is physically handicapped |
Basic wages+ DA for
six months
or own share of contribution with interest or cost of equipment
which ever is least. |
No.31 |
Certificate from the
Medical practitioner to the effect that the member is physically
handicapped.. |
Note: For calculation/ computing the period of
membership U/P 68B, 68BB, 68K, total service exclusive of periods of break
under the same employer before the scheme is applied to him, as well as
period of membership of the fund is always included.
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