PF advance claim and other claims process

PF advance claim and other claims process, terms and conditions

1. Training Program on PF advance claim and other claims process, terms and conditions HR Gen Nikhil Kumar

2. Point of discussion EPF Form 31 Form 19 Form 10C Form 10D Composite Claim Form in Death Cases Nikhil Kumar

3. EPF Form 31 Form 31, also known as the EPF Advance Form Nikhil Kumar

4. Form 19 PF Form No. Form – 19 Purpose Final settlement Eligibility All existing employees who want to close their existing EPF account How to Fill the Form online and offline(Only in Special cases When is it Filled At least 2 months after leaving the company Nikhil Kumar

5. Form 10C Claiming the benefits under the employee pension scheme All members of the EPS scheme satisfying the below mentioned criteria can apply : A person who has left employment before completion of 10 years and who has attained 58 years of age before completion of 10 years of service. A person who has completed 10 years in service and not attained 50 years of age, or a member who is between 50 to 58 years of age and is unwilling to settle with reduced pension. Family/nominee of a member who died before completing 10 years of service and was more than 58 years at the time of death. Nikhil Kumar

6. Form 10D EPF Form Form 10D Purpose Pension withdrawal after retirement Eligibility Retirement (58 years) or after 50 years of age (reduced pension) When to Fill After retirement Where to Submit To be submitted to the EPFO through the establishment How to Fill Offline Who has to Fill it The employee or nominee (in case of death of the employee) Nikhil Kumar

7. TYPE OF PENSION 1.SUPERANNUATION PENSION 2. REDUCED PENSION  3. DISABLEMENT PENSION 4. WIDOW & CHILDREN PENSION  5. ORPHAN PENSION  6. NOMINEE PENSION  7. DEPENDENT PARENT Nikhil Kumar

8. COMPOSITE CLAIM FORM IN DEATH CASES Form-20 (PF Payment ) Form-10-D ( Pension) Form - 5 IF (EDLI ) Nikhil Kumar

9. EDLI With effect from 28.04.2021 EPFO has increased the maximum benefit to Rs.7 lakh minimum benefit of Rs.2.5 lakh The claim amount under ELDI is  35 times the average monthly salary  in the past 12 months. The maximum average monthly salary of an employee is capped at  Rs . 15,000 The average monthly salary is calculated as the  Basic + Dearness Allowance  of the employee A bonus of  Rs . 1.75 Lakhs  is also applicable under this scheme Nikhil Kumar

10. EDLI Calculation If Monthly salary is 15000 (Basic + DA) 35*15000 = 5,25,000 5,25,000+1,75000 (Bonus) = 7,00,000 Nikhil Kumar

11. Nikhil Kumar