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For New Entrants:
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An employee is eligible for Provident Fund membership from the very date of his/her
joining service. He/she is supposed to fill up the membership deceleration (Form-2
Revised) and submit it to his employer. Declaration of previous employment details,
if any, is to be furnished in Form 13 Revised. The employee is eligible to contribute
voluntarily @ 12% and above. However, if the employee’s emoluments exceed Rs.6500/-
per month, he has the option to join the Scheme(s) with the consent of employer.
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For Existing Members:
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Consequent upon any change in the family status of the member, it is the duty
of the member to intimate his/her employer and the Fund about the same in Form-2
(Revised)
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Statement of Account (A/c Slip)
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As soon as possible and after the close of each period of currency of contribution,
annual statements of accounts will be sent to each member through his/her employer.
The statement of accounts in the fund will show the opening balance at the beginning
of the period, amount contributed during the year, the total amount of interest
credited at the end of the period or any withdrawal during the period and the closing
balance at the end of the period. Members should satisfy themselves as to the correctness
of the annual statement of accounts and any error should be brought through the
employer to the notice of the Fund within 6 months of the receipt of the statement.
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Withdrawal of Provident Fund
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On cessation of a member from service, he/she can withdraw/transfer his/her Provident
Fund accumulation by filling the respective forms. However, in the case of Resignation,
the member can apply for withdrawal of his/her P.F. Accumulation provided that he/she
has not been employed in any factory or other establishment to which the Act applied
for a continuous period of not less than two months immediately preceding the date
on which he/she makes an application for withdrawal. The requirement of two months
waiting period shall not, however, apply in cases of female members resigning from
the services of the establishment for the purpose of getting married.
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Additional Feature
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A member is entitled to avail Repayable Loan if he/she desires
so. The loan is sanctioned post clearance of the parameters set therein.
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Benefit of the member
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