PROVIDENT FUND ---- A INSIGHT

1)

Who will be covered by the Pe !io Sche"e#

Every member of the ceased Family Pension Scheme 1971 and anyone who joins any covered establishment on or after 16-11-95 is comp lsorily to join this scheme! provided his"her salary"wa#e is less than $s% 65&&"- per month at the date of appointment
$% Wh&t i! & covered e!t&bli!h"e t# 'overed establishment is an establishment belon#in# to the class of ind stries " other establishments! which has been listed in the sched le appended to the Employees( Provident F nd and )iscellaneo s Provisions *ct 195+ and where +& or more persons are employed%

'% I( e")loyee w&! & F&"ily Pe !io Sche"e "e"ber* He+She h&! le(t o ,'-,$--' & d he+!he i! ./ ye&r! old* He+She h&! t&0e hi! withdr&w&l be e(it* 1& he+!he 2oi the ew !che"e# ,es! by ref ndin# withdrawal benefit to#ether with interest% -hereafter! he"she will be entitled to receive pension from a#e 5.! if he"she completes atleast 1& years of contrib tory service by then%

/% I( e")loyee i! & F&"ily Pe !io Sche"e 3e"ber & d he+!he h&! retired &(ter .4 ye&r! o( &5e o ,.-6,--/* 1& he+!he 2oi the ew !che"e# ,es! anyone who has retired by reachin# a#e 5. between &1-&/-90 and 15-11-95 may join the scheme by ret rnin# the withdrawal benefit alon# with interest% 1e will be paid pension with immediate effect! from date of e2it provided he has rendered 1& years of contrib tory service%

.% I( e")loyee i! ot & F&"ily Pe !io Sche"e "e"ber & d he+!he i! .7 ye&r! o( &5e8 1& he+!he 2oi F&"ily Pe !io # ,es! by divertin# from his"her Provident F nd balance! Family Pension Scheme contrib tion from date of his"her joinin# or &1-&0-71! whichever is later% 7% Whether the F&"ily Pe !io Sche"e "e"ber who h&! &tte ded the &5e o( .4 ye&r! be(ore 6,-6/--' & d h&! le(t e")loy"e t &(ter 6,-6/--' will be &d"itted to the !che"e &! "e"ber o( F&"ily Pe !io Sche"e8 ,-9,# ,es! he will be deemed to have retired after &1-&/-90% 3n repayment of that withdrawal benefit which was paid! Pension will be paid from same date! provided he has rendered 1& years of contrib tory service

9% I c&!e F&"ily Pe !io "e"ber h&! &tt&i ed the &5e o( .4 ye&r! betwee 6,-6/--' & d ,7-,,--. the i th&t c&!e whether &rre&r! o( "o thly 3e"ber Pe !io beco"e )&y&ble (or the )eriod e&rlier th& ,7,,--. i*e* (ro" the d&te o( hi!+her &tt&i i 5 the &5e o( .4 ye&r! which i! )rior to ,7-,,--.# 4o! he"she will be deemed to have retired from 16-11-95 and pension paid accordin#ly%

4% I! e")loyee the o ly be e(ici&ry o( F: d# 5enefit will be paid to him"her and in his"her absence to his"her family -% Wh&t i! "e& t by F&"ily# Family means employees( spo se and children below +5 years of a#e% ,6% S:))o!e & e")loyee doe! ot h&ve & F&"ily & d he+!he die! be(ore receivi 5 be e(it* Doe! hi!+her )e !io 5et lo!t# 4o! if he"she does not have a family! benefits will be paid to his"her nominee! who will receive the benefit in his"her absence% ,,% S:))o!e "e"ber h&! ot o"i &ted & yo e* -he pension " $3' will be paid to the dependent parents

,$% 1& "e"ber ch& 5e hi!+her o"i &tio # 1e"She can chan#e his"her nomination whenever he"she decides within the framewor6 of r les for s ch nomination% 7n other words if he"she has a family! nomination sho ld be in favo r of a member8s9 of the family% 7f he"she has no family he"she can nominate anyone he"she wishes%

,'% How "& y ye&r! !ervice i! re;:ired to be eli5ible to receive "e"ber )e !io # )inim m 1& years eli#ible service will entitle for member pension

,/% E")loyee i! & "e"ber o( E")loyee!< Pe !io Sche"e* He+She h&! le(t e")loy"e t &t /4 yr!* o( &5e & d 4 yr!* o( !ervice* Whe !h&ll he+!he receive hi!+her )e !io # 1e"She can ta6e either withdrawal benefit or can ta6e scheme certificate so that the . years service can be added to any f t re service that he " she may p t in! in any other covered establishment% 5y virt e of bein# a holder of a scheme certificate! if the member dies before 5. years widow " widower and children shall be entitled for pension ,.% Wh&t i! )&!t !ervice )e !io # -his pension is for the period of membership of the Employees( Family Pension Scheme! 1971% ,7% Whe doe! & e")loyee beco"e eli5ible to beco"e & "e"ber o( E")loyee!< Provide t F: d Sche"e8 ,-.$ & d E")loyee!< De)o!it =i 0ed I !:r& ce Sche"e8 ,-97#

*n employee becomes a member of Employees Provident F nd 8Employees( Provident F nd9 Scheme! 195+ " Employees :eposit ;in6ed 7ns rance 8Employees( :eposit ;in6ed 7ns rance9 Scheme! 1976 immediately on joinin# an establishment covered nder the Employees Provident F nds < )iscellaneo s Provision *ct! 195+

,9% Wh&t i! o"i &tio # Every member has to #ive the details of himself < details of the nominee for Employees( Provident F nd < Employees( :eposit ;in6ed 7ns rance Schemes and details of family for Employees Pension Scheme! 1995 in form no% +%

* member if! is havin# a family can nominate any one or more persons to receive the Provident F nd on his death% 7n case of him havin# no family he can nominate any other person% Family for the p rpose of Employee Provident F nd Scheme(5+ means wife"h sband! children! whether married or nmarried! incl din# adopted children! if adoption is reco#ni=ed and dependant parents of member% Employees :eposit ;in6ed 7ns rance Scheme benefit will be paid to the nominee nder Employees Provident F nd Scheme! 195+% For the p rpose of Employees Pension Scheme!1995 the member has to f rnish the details! s ch as name! relationship < a#e of all the family members in the form no% +% Family for the p rpose of Employees Pension Scheme! 1995 means wife"h sband < children% >henever member wants to ma6e a chan#e in the nomination already made for Provident F nd! or to pdate the details of family for Employees Pension Scheme!1995! he has to send a revised form no% +% -he form no%+ is ro ted thro #h the employer% ,4% Wh&t &re the )eriodic&l ret:r ! to be !e t by & e")loyer to the Provide t F: d O((ice# -he employer of an n-e2empted establishment has to forward the followin# ret rns% -hese ret rns will incl de details re? ired nder the three schemes namely! Employees Provident F nd Scheme! 195+! Employee :eposit ;in6ed 7ns rance Scheme!1976 and Employee Pension Scheme! 1995% &% For"-->Revi!ed%? -he details of employees enrolled as members of Employees( Provident F ndS(5+! Employees( :eposit ;in6ed 7ns rance(76 < Employees( Pension Scheme(95 on covera#e of the establishment- -his is to be s bmitted immediately after covera#e! within 15 days of covera#e% b% For"-,$A? -he details of the contrib tions recovered form the members < paid alon# with details of employers( contrib tion < administrative char#es- -his is to be s bmitted monthly by +5th of followin# month% c% For"-.? -he details of the employees enrolled newly to the Provident F nd- -o be s bmitted alon# with Form-1+* every month within 15 days of the followin# month% d% For"-,6? -he details of the employees leavin# service d rin# the month- -o be s bmitted alon# with form-1+*% e% 1h&ll& !? -he triplicate copy of challans in to6en of havin# remitted the Provident F nd d es in the ban6- to be s bmitted alon# with form-1+* every month% (% For"-$>Revi!ed%? 4omination form- -o be s bmitted alon# with form-5"9% 5% For"-'A? -he details of wa#es < contrib tions in respect of each member! to be prepared financial year wise- -o be s bmitted to the Provident F nd office by 0&th of *pril every year% h% For"-7A? ,early consolidated statement of contrib tions- -o be forwarded yearly alon# with form-0*% 7t sho ld be ens red that all the form-0* are entered in form-6*! irrespective of whether the form-0* was forwarded for the bro6en period and the total d es as per the form-1+* for the whole year a#rees with the total of form-6* within 0&th *pril% i% For"-.A?

$et rn of ownership of the establishment- -o be forwarded immediately after covera#e < whenever there is a chan#e in the ownership! it has to be intimated with in 15 days of chan#e% 2% S)eci"e !i5 &t:re? Specimen si#nat re of the officer"officers who are a thori=ed to si#n the ret rns"doc ments relatin# to Provident F nd forwarded immediately after covera#e < whenever there is a chan#e in a thori=ed officer% ,-% Wh&t i! the )roced:re to be (ollowed by the "e"ber i( the e")loyer i! ot &tte!ti 5 hi! cl&i" (or"!# 7t is the d ty of the employer nder the *ct < Scheme to help Employees( Provident F nd or#anisation to settle the Provident F nd d es of his employees% 1e has to complete the prescribed application within 5 days of receipt @para7+859A forms < hand over it to the member when he leaves the service% >hen a member finds diffic lt to #et the form attested by the employer! he can #et the attestation of any of the followin# officer < send to the Provident F nd office 1% +% 0% )ana#er of a ban6% 5y any #a=etted officer% )ember of the 'entral 5oard of -r stees%" committee" $e#ional 'ommittee 8Employees( Provident F nd 3r#ani=ation9%

)a#istrate" Post" S b Post )aster" President of Billa#e Panchayat" 4otary P blic $6% Wh&t i! the "ode o( )&y"e t o( Provide t F: d & d E")loyee!< De)o!it =i 0ed I !:r& ce d:e!# Provide t F: d @ E")loyee!< De)o!it =i 0ed I !:r& ce d:e! i! )&id by "o ey order+ by de)o!it i )&yee!< b& 0 &+c+ thro:5h e")loyer+ by de)o!iti 5 the che;:e i )&yee!< &"e or )&rt o( &"o: t i & :ity !che"e i & y &tio &li!ed b& 0* P&y"e t by "o ey order i! &llowed where the &"o: t i! ot "ore th& R!* $666+-* $,% Wh&t &re the "od&litie! to be (ollowed (or )&y"e t thro:5h che;:e# -he member has to open an acco nt in the nationalised ban6! sched led ban6! rban ban6 or post office savin#s ban6% 1e has to f rnish the details of ban6 a"c no% with the f ll address of the ban6 in application form% *n advance stamped receipt has also to be anne2ed in the form% For receipt of pension member"claimant has to open an acco nt only in State 5an6 of 7ndia or P njab 4ational 5an6 $$% I c&!e o( ret:r i 5 o( che;:e wh&t i! the )roced:re to be (ollowed# Cenerally the che? es are ret rned by the ban6ers when the a"c n mber is f rnished incorrect or a"c has been closed% 3n receipt of the che? e from the ban6ers the Provident F nd office will write to the member < employer abo t the fact < re? est them to intimate the ban6! a"c n mber < detailed address% 7n case! the member comes to 6now abo t ret rnin# of the che? e before this! he can write to the Provident F nd office thro #h his former employer re#ardin# his present address < ban6 a"c n mber%

$'% Wh&t i! the ti"e t&0e (or di!)o!&l o( the &))lic&tio i the Provide t F: d o((ice# -he claims received complete in all respects are disposed off within a ma2im m period of 0& days from the date of receipt of claims in the office% 7n case the member is not hearin# anythin# abo t his application within 0& days! he can approach the P blic $elation 3fficer%

$/% Wh&t i! the vol: t&ry r&te o( Provide t F: d co trib:tio by the "e"ber# *s per the *ct! the member has to contrib te at the rate of 1&D or 1+D of his basic pay! :%*% < retainin# allowance if any% 7n case the member wants to contrib te more than this! vol ntarily he can do so at any rate he desires% i%e% pto 1&&D of basic and :%*% 5 t the employer is not bo nd to contrib te at the enhanced rate%

I !tr:ctio ! (or & "e"ber while !e di 5 &))lic&tio to E")loyee!< Provide t F: d*

7nstr ctions for a member while sendin# application to Employees( Provident F nd 3r#ani=ationE CeneralE

1%

Fse the appropriate form for claimin# Provident F nd Pension! withdrawal benefit"scheme certificate! Employees( :eposit ;in6ed 7ns rance benefit! etc% as #iven below EFor"-,- ? -o claim final settlement of Provident F nd by a member% For"-$6 ? -o claim Provident F nd by nominee"le#al heir on death of the member% For"-,6-D ? -o claim pension% 87n d plicate E 7f within state! 7n triplicate E 7f o tside state%9 For"-,6-1 ? -o claim withdrawal benefit"scheme certificate nder Employees( Pension Scheme (95% For"-.IF ? -o claim ass rance benefit nder Employees( :eposit ;in6ed 7ns rance (76 by nominee"le#al heir of a member% For"-', ? -o claim temporary withdrawal"advance nder Employees( Provident F nd scheme (5+% For"-,' ? -o effect transfer of Provident F nd"Pension from one *"' to another%

+% 0%

Ens re that all col mns of the application are filled completely% 7nformation in the application form relatin# to name! a"c no% sho ld a#ree with the details available with Employees( Provident F nd 3r#ani=ationG which were f rnished by the employer at the time of enrollin# to Provident F nd% *pplication sho ld be si#ned by the member"claimant% 7t sho ld be attested by the former employer% 7n case attestation by the former employer is not possible! it sho ld be #ot attested by any other a thori=ed official specified with application form% *pplication for final settlement can be sent by a member on completion of + months from the date of leavin# service! if the reason for leavin# service is other than s perann ation! medical #ro nd! retrenchment and B%$%S%" Female members #ettin# married etc% :esired mode of payment can be #iven le#ibly! if the amo nt involved is more than $s% +&&&"-% -he amo nt will sent by deposit in payees( ban6 a"c% -o facilitate this! 5an6 a"c no%! name and address of the ban6 sho ld be f rnished% *n advance stamped receipt sho ld also accompany this application% *pplication may be s pported by the ret rn Form-1&! showin# the details of leavin# service and details of contrib tion for the year in Form-0*! if not sent earlier by the employer%

/% 5%

6%

7%

.%

Specific additional re? irementsE A% De&th c&!e!?

4ominee"le#al heir sho ld apply in Form-+& "Form-1&-: "Form-57F% 7f the member has not e2ec ted any nomination! application sho ld be s pported by certificate of family members iss ed by employer"reven e official"sworn in an affidavit by the family" member"le#al certificate from a co rt of law% :eath certificate of the member%

'ertificate of the employer statin# whether the death was while in service of the member or not% A% Pe !io c&!e!? Hoint photo#raph of member"spo se or the claimant sho ld accompany the application% 3ption for ret rn of capital"comm tation sho ld be specified clearly% :etails of non-contrib tory period d rin# the service! wa#es"salary for last 1+ months sho ld also accompany! if not already sent% :etails of the branch of the specified ban6 may be #iven le#ibly% :ate of birth certificates of children 7n case of death away from service! an nderta6in# by the claimant to the effect that the member was not wor6in# " had not wor6ed in any other covered establishment after e2it from the establishment on the basis of which pension is bein# claimed%