Here are 10 things you may not know about EPF contributions, EPF interest rate, EPF balance:
1) Interest on EPF keeps getting accumulated. It can be claimed on retirement, resignation or death of employee.
2) If you want to construct a house, go for higher education, marriage or are critically ill, partial withdrawals from EPF accounts are allowed.
3) Interest rate on EPF contributions is decided every quarter.
4) The employees can make EPF contributions at a higher rate. However, in such cases an employer is not under any obligation to pay a higher rate of interest.
5) EPF contributions are payable on the maximum wage ceiling of Rs 15,000 by employee and employer.
7) An EPFO member is required to be registered on epfindia.gov.in - member portal - to file the transfer claim online. The detailed process flow for the registration is available at the link available on the homepage of EPFO website. This can be accessed through the link - For Employees > Online Transfer Claim Portal (OTCP) > Detailed Instructions > Process flow for registration on Member Portal or at the URL http://memberclaims.epfoservices.in.
8) You need to link your Aadhaar card number with the activated UAN for online EPF claim submission.
9) EPFO services are now available on the UMANG app, the one-stop shop for government services.
10) You can also check your EPF balance via SMS and missed call facility of the EPFO.
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