Right EPF Operations ESI PF Consultant in Ahmedabad

India's most recent EPF form list at Pro Legal HR Payroll Service Company base ESI PF Consultant in Ahmedabad.

One important social security program that is intended to give workers financial stability once they retire is the Employees' Provident Fund (EPF). A portion of the employee's pay is contributed to the EPF account by both the company and the employee.

A number of EPF forms are essential to the process of managing different facets of the EPF plan. We shall examine the numerous EPF forms available in India as well as their functions in this article.

Form 2: Declaration and Nomination Form

Employees can designate a family member to receive the EPF balance in the event of their death by completing Form 2. To guarantee that the money is distributed to the right person, this form must be kept up to date. It is necessary to determine the nominee after marriage, however they can be altered at any time.

Employee Monthly Contribution Report, Form 3A

Employers submit their employees' monthly contributions using Form 3A. This form, sometimes called the Employee-by-Employee Annual Report, summarizes the contributions and deductions made by the employer and employee to the EPF, VPF, and EPS accounts for a specific year.

Form 5: Fund Membership Application

When an employee joins a new company, they file Form 5. It assists the employer in setting up the worker's EPF account and starting fund contributions. When new employees are registered under the EPF program, employers complete this EPF registration form on the fifteenth of each month; if no new employees are employed, it is reported as "NIL."

Employee Deposit Linked Insurance (EDLI) Claim Form 5(IF)

After an employee passes away unexpectedly, Form 5 (IF) can be filled out to claim benefits under the Employee Deposit Linked Insurance (EDLI) program. Processing this claim requires an attestation from the employer, albeit in the event that the employer is not available, a gazetted officer may offer the attestation. A minor beneficiary's legal guardian may complete the form on their behalf.

Tax Deduction at Source (TDS) on EPF Income, Form 5G

In order to save money on tax deductions for interest generated from their EPF account, members complete Form 15G. It also applies when a member takes out more than ₹50,000 from their EPF funds before they have served for five years. Form 15H is used for older persons rather than Form 15G.

Employer's Monthly Contribution Statement, Form 6A

A summary of each member's contributions to the establishment is provided in Form 6A, the yearly contribution statement. It allows the employer to monitor the total contributions made by each employee by providing information about the yearly salary deductions from the EPF contribution.

Form 10-Notice of Employee Resignation

Form 10 must be submitted by the employer to stop an employee's contributions when they quit or leave their position. The deadline for submitting this form is the fifteenth of every month.

Form 10C: Claim for Pension Withdrawal

When an employee quits their work before ten years of service, they must utilize Form 10C to request the withdrawal of their Employee Pension Scheme (EPS) balance. Certain prerequisites and eligibility requirements must be met, and in some cases, the employee may be granted a scheme certificate.

Monthly Pension Claim Form 10D

When an employee becomes eligible for a pension after retirement, they use Form 10D to claim their monthly pension under the Employee Pension Scheme (EPS).

EPF Transfer Request Form 11

In order to transfer their EPF balance from their prior employer to their new one, employees must submit Form 11 when they change jobs. The Member ID and PF account number change, but the UAN stays the same.

EPF Balance Transfer Request Form 13

Form 13 is used when workers change employment and wish to move their EPF balance from their old employer to their new one. This makes the procedure of combining EPF accounts easier.

Form 14: Payment Claim for LIC Policy

Form 14 must be filled out, self-attested, and sent to your employer, who will then forward it to the EPF commissioner in order for you to use the PF account to pay for a Life Insurance Corporation (LIC) insurance.

EPF Full Withdrawal Request Form 19

Usually after retiring or resigning, Form 19 enables employees to take their entire EPF balance, which includes employer and employee payments as well as accrued interest. Those without a Universal Account Number (UAN) are affected by this.

Form 20: Request for Provident Fund Withdrawal

The guardian of the minor, the insane nominee, or the heir uses Form 20 to claim the accumulation of the minor dead member's Provident Fund.

Form 31: Advance Application for EPF

Employees may take partial withdrawals from their EPF account using Form 31 in the event of financial crises, such as those involving housing, medical, or educational costs.

16. Form 51F: Employees' Deposit Linked Insurance (EDLI) EPF The Employees' Deposit Linked Insurance (EDLI) benefits of an EPF member can be claimed by their legal successor or nominee using Form 51F.

In conclusion

A crucial financial safety net for workers in India is the Employees' Provident Fund plan, and the several EPF forms are crucial for both managing and gaining access to the money. Pro Legal HR Payroll Service Company or ESI PF Consultant in Ahmedabad.  To guarantee efficient EPF operations and enable the easy payment of money when required, it is imperative that both employers and employees are conversant with these forms.