PF Alert: Big news for EPFO members. To fulfill their current requirements, individuals engage in work, manage their own businesses, and more. Additionally, they take several crucial measures to secure their financial future, both now and later. One of these measures is the Provident Fund (PF). In fact, the Employees’ Provident Fund Organization (EPFO), a government body, establishes PF accounts for working individuals.
It is the employer’s duty to deduct a specific amount from the employee’s monthly salary and deposit it into the PF account. However, if your employer fails to deposit the deducted PF contributions into your account, you have the option to file a complaint. Let’s explore how to do this and where to direct your complaint regarding the company…
Where can you file a complaint if your PF is not being deposited?
You can voice your concerns on the official EPFO complaint portal. To do this, first visit the official website epfigms.gov.in.
Next, click on the ‘Register Grievance’ option.
You will then need to select one of the categories:
‘PF Member’, ‘EPS Pensioner’, ‘Employer’, or ‘Others’. If your complaint is against the company, choose the ‘Others’ option.
After that, a form will appear for you to fill out in order to register your complaint.
If your employer is deducting money from your salary but not depositing it into your PF account, you can also file a complaint via the toll-free number.
You can reach EPFO’s toll-free helpline at 14470 or 1800118005.
You can also make a written complaint
If no action is taken on your complaint online or through call, or if you prefer, you can also file a written complaint. You can give a written complaint to the Regional Provident Fund Commissioner i.e. RPFC office of the area If you wish, you can also share your complaint by emailing rc.csd@epfindia.gov.in rc.csd@epfindia.gov.in
The rules related to the Provident Fund (EPFO) are about to undergo a major change. The government is soon going to introduce EPFO 3.0, which will make withdrawing funds from the PF fund much easier. Following the implementation of the new rules, EPFO members will also be able to withdraw funds from their accounts through ATMs. The purpose of implementing the new rules is to allow members to exercise direct control over their funds using their ATM cards.
How much money can you withdraw from PF balance?
According to experts, members will be able to withdraw up to 75 percent of their total PF balance through ATMs. However, they will need to provide a reason for the withdrawal. Currently, no concrete information has been released from the EPFO regarding how this ATM withdrawal system will work or what the limits will be. Some experts believe that withdrawals of up to 75 percent, or a maximum of Rs 1-2 lakh, may be permitted for medical and other personal emergencies.
Will there be tax exemption as well?
Experts also say that the ATM withdrawal rule regarding EPFO 3.0 is merely for convenience. It will not provide any tax benefits. Your EPF withdrawals will continue to be taxed as before.
