I learnt what is EPF wages in passbook through a friend of mine. He told me that members can access their balance online thanks to Employees' Provident Fund Organisation (EPFO), the nodal organisation for Employees' Provident Fund (EPF). The passbook, includes entries for each month's subscriber and employer payments as well as pension expenditures. Any interest that has been credited to the beneficiary's account is also listed in the passbook. Let me explain more about it to you.
EPF wages in passbook
The breakdown of the employer's and employee's monthly contributions in rupees is shown in the PF statement or passbook. Additionally, a separate line is shown for the amount dedicated to EPS.
Despite the fact that employees and employers each contribute 12%, readers should be aware that the contributions listed here are different. This is due to the fact that not the entire employer portion gets transferred to the EPF fund. A percentage of the employer's contribution is allocated to EPS.
How to check EPF balance?
Subscribers must have their Universal Account Number (UAN) enabled in order to view their EPF balance. The UAN is an identification number that appears on an employee's monthly pay stub. Every employee engaged in the EPF programme has a different one.
Here is a step-by-step tutorial for using the EPFO website to check your EPF balance:
Step 1: Log in to the EPFO website at epfindia.gov.in.
Step 2: Choose the "for employees" option under the "Our Services" page.
Step 3: Select the 'Member Passbook' option from the 'Services' menu.
Step 4: The EPF passbook portal, passbook.epfindia.gov.in, will now display. The username (also known as UAN) and password must be entered.
Step 5: Once logged in, the relevant employment's details can be chosen. Someone who has worked for four different organisations, for instance, would be able to select from four separate member IDs. The EPF passbook may be accessed following the selection of a member ID. The running balance in the EPF account is shown in the passbook.
The Employee Provident Fund, or EPF, serves as a savings option for employees. Employees contribute 12% of their salaries to EPF accounts, and employers also contribute 12% of salaries.
I hope I was able to explain to you what is EPF wages in passbook.
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What is EPF Wages in Passbook?
Megha
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2023-07-10T12:16:51+00:00 2023-07-10T12:23:42+00:00Comment
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