EPFO: This news is for you if the Employees' Pension Fund is affiliated with the EPF. EPF is also known as Employer Pension Scheme (EPS).
EPFO: EPF is also known as Employer Pension Scheme (EPS). It is managed by the government pension fund EPFO. Pension will be provided from this fund to those employed in organized sectors. For this, a portion of the salary is added to the pension fund. Both the working company and the employee must cooperate with the EPF. So if the employee retires, he will get some amount as pension.
This work is done through the Universal Account Number or UN. Form 10C is also important in this episode.
When an employee retires from a company he has two options. If the employee becomes part of any company again he can transfer the PF money to that company. Or he can withdraw that money if he wants to. Both of these options are available to that employee. In such a situation it is necessary to fill up Form 10C if the employee decides to withdraw PF money. For this he must have a UAN number which is a 12 digit unique number. PF money can be received by the nominee or legally qualified persons if the employee unfortunately dies. All these benefits are available only when the employee fills out Form 10C.
How to fill form 10C.
For this some important steps need to be completed.
1. Go to the EPF Portal and click on the Employers Portal tab
2. The next page will open where you need to enter your UAN number and password.
3. In the menu bar here you will see the Online Services tab Click on it
4. Go to the dropdown menu and click on Form 10C, 19, 31
5. Check your job, KYC, member details on the next page
6. Last your registered bank account for verification Enter 4 digits
7. Accept the Undertaking Certificate term, condition
8. Go to the bottom of the next page and click on what you want to apply for and select only Pension Withdrawal Form
10C 9. Now select Get Aadhaar OTP. Enter your address first
10. You will receive an OTP on your registered mobile number.
An SMS will be sent to your mobile number after filling up the EPF Withdrawal Form 10C. After a few days the PF money will be transferred to your bank account. However not everyone can take advantage of this form. There are some conditions. If a member resigns before 10 years of service and a member has completed 58 years without 10 years of service in any company, he will avail the benefit of Form 10C This form can be obtained before permanent retirement.
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