Provident Fund

What is An EPF Statement?

EPF statements provide you with complete details of employer and employee contributions. Read on to find out what all gets included in an EPF statement.

What is An EPF Statement?

An EPF statement provides a record of the employee provident fund account holder’s transactions of settlement, advances, transfer-out, and transfer-in across various organisations where that person has worked.

It is a type of online version of the holder’s PF status. Every transaction done as per date and month would be given in a statement or e-passbook. The EPF statement not only offers the updated status of PF account, but it also provides one’s personal details, such as their name, phone number, and date of birth.

What does an EPF Statement consist of? 

Here are some significant things that are provided in an EPF statement:

Basic information: The EPF statement provides the name and establishment ID along with the address of the establishment. You can also find information such as the name and date of birth of the employee, as well as the date of joining the organisation. 

PF Account number: The initial thing to see on an EPF statement is your EPF number. For an un-exempted organisation, the EPF number is an alphanumeric number, which represents the state, establishment, regional office, and EPF member code. The account number of PF is provided differently for an exempt organisation and is entirely numeric.

UAN number: UAN, or universal account number, is a unique twelve-digit number that every employee must have. It is not the same as the PF account number that is made whenever the employee goes into a new organization. All PF account numbers, i.e., the IDs of the members, will be linked to the UAN. When changing jobs, provide your UAN number to your new employer, as it helps in the better administration of the PF account.

Opening balance: The PF statement will provide the opening balance under both the employer-employee columns. The opening balance displays the entire contributions (employer and employee columns) as well as the interest obtained in the previous fiscal year.

Monthly contributions: The PF statement or passbook will provide a detailed break-up of the employer’s and the employee’s per month contribution in rupees. The amount that goes towards the Employees’ Pension Scheme, or EPS, is also provided separately in the statement. Even though both employer and employee contribute twelve percent of their income equally, the contributions are entirely different. 

Voluntary Provident Fund: An employee can contribute more than the mandatory 12 percent towards PF, which can be found under the ‘Voluntary Provident Fund’ column. The voluntary contributions of the employees are shown separately. One needs to keep in mind that the employer does not have to match the VPF contribution, and hence it may not show any figure.

Interest: The interest obtained on the employer’s and the employee’s contributions is given to the PF account every year. The interest obtained is estimated based on the monthly balances in the account. The statement of PF will provide the interest rate on which the estimation is based, as announced by the government.

Withdrawals: Any kind of withdrawal that the employee may have done will also be provided and accounted for consistently. 

Closing balance: The closing balance represents the total amount of employee contributions along with the interest earned and the total amount of employer contributions along with the interest earned. These balances will act as the opening balance for the next fiscal year.

Click here to know about: EPF Registration

How To Check EPF Statements?

The following are ways of checking the PF Statement.

Using the EPFO Portal

To check EPF statements or balances, the first thing one needs to do is ensure that their employer has enabled their UAN, or universal account number.

The UAN, or Universal Account Number, is a unique number for all the employees in the EPF scheme. A UAN number is created by the EPFO, or Employee Provident Fund Organization. Every employee must have one UAN number during their service period, irrespective of the organizations they change to.

Once the UAN is enabled, follow these steps:

  • Log on to the website of EPFO. Reach the tab ‘Our Services’ and select the option that states “for employees” from the menu.
  • Next, click on the option that states ‘Member passbook’ under the “Services” option.
  • A login tab will open. Here you need to enter your UAN number along with the password after it has been enabled.
  • You will be able to access your EPF account once you are done logging in.

Sending an SMS

It is important to merge your KYC details with your UAN number, i.e., details of your PAN, Aadhaar, or bank account. Only then will you be eligible to receive your EPF statement or balance via SMS.

Once your UAN number is merged with your KYC details, you need to follow these steps:

  • Send a message to mobile number 7738299899.
  • You must send the message as EPFOHO UAN ENG
  • You will need to choose your preferred language of communication. For this, you need to type the first 3 characters of the language you want to select. For example, if you want to get updates in the English language, use the first 3 characters of the word English, such as EPFOHO UAN ENG, where ENG represents English.
  • If you wish to get the message updates in the Marathi language, then type in EPFOHO UAN MAR, where MAR represents Marathi.

This service is available in Punjabi, Gujarati, English, Hindi, Telugu, Tamil, Marathi, Bengali, Malayalam, and Kannada.

Learn about PF Calculator.

By giving a missed call

You can also inquire about the EPF balance or statement by simply giving a missed call from your registered mobile number to the authorised phone. This facility is only available if you have your KYC details integrated with your UAN. If you are not able to do this, you can always ask for help from your employer.

Once the KYC details are integrated with your UAN, follow the steps below:

  • You need to give a call from the registered mobile number to 011-2290-1406.
  • After giving a missed call to the number, you will get a message providing you with all the details of your PF statement.

By using the EPFO app

You can check your EPF statement or balance by simply downloading the “m-sewa app of EPFO” on your phone from the Google Play Store.

  • Once you have downloaded the app, click on the option ‘Member’ and then click on the ‘Balance/Passbook’ option.
  • Enter your registered mobile number and UAN.

The system will check your UAN against your mobile number. Once all the information is checked out, you can check your updated EPF statement or balance details. In the event of a mismatch or wrong information, it will display an error.

How Vakilsearch Can Help With EPF Registration Online?

The Provident Fund can offer employees a sense of financial security, which can be a tremendous source of support, safety, and comfort. It is governed by the Employees’ Provident Fund Organization (EPFO), one of India’s most prominent and significant social security organisations.

Every day, they manage enormous volumes of financial transactions. As long as you have a professional to assist you, the procedure for applying for the provident fund is also not a challenging endeavour.

We at Vakilsearch promise that you won’t have to deal with the complicated legal requirements associated with applying for PF. Our professionals accurately fill out the forms and swiftly submit them once we have the necessary data and supporting documentation. 

Conclusion 

Organizations with a total staff size of more than 20 must register for EPF. Such employers have the option of using Vakilsearch’s online PF registration service. With our experienced legal guidance, your business can register for employee provident funds in just 3 simple steps.

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