Monday, July 9, 2012


As most of us are having problem understanding pf so thought of just writing down pf queries at one place.

Q: What is PF?
Provident Fund.

Q: What is EPF?
Employee Provident Fund. Similar to PF, EPF is for private companies and PF for government employees.

Q: How much is deducted from your salary?
An amount of 12% of your basic salary is deducted as Employee contribution (EE) and an equal amount is paid by your company (Employer - ER). Some companies deduct a minimum of 780/month.

Q: How to check your PF balance?
  1. First get your PF account number. It will be in salary slips or PF accounts from your employer. It will look like PY/BOM/34444//001.
  2. Go to site
  3. Enter the details. Your name should exactly match with the records!!
  4. Your will get an SMS (in 5-10 minutes) to your phone
Q: How to read the SMS?
Your SMS will be EPF Balance in A/C No. BG/BNG/24476//1010 is EE Amt: Rs 98248 ER Amt: Rs 70344 as on 03-12-11 (Accounts updated upto 31-03-2009) - EPFO

EE amount is paid by you. ER is paid by your company. The difference amount has been moved to Pension fund

Q: What is pension fund?
As per rules a part of your ER PF goes to pension fund.
"a part of contribution representing 8.33% of the employees’ pay shall be remitted by the employer to the Employees’ Pension Fund. See for more details.

Q: How to convert your old PF number to new PF number?
Use the link provided there to get your new PF number.
Easiest way is select the state and type part of your company name. (eg. Intel)

Q: When do we get the money?
When you retire!!

Q: When can I withdraw the PF amount?
Generally people withdraw when leaving the company.

Q: What forms to be filled for withdrawal?
We need to submit 3 forms
1. Form 19 - For claiming PF
2. Form 10C (EPS) - For claiming Pension Fund
3. ECS Mandate form - For direct deposit to your bank account

Q: Where to submit the withdrawal form?
It has to be submitted in the last company

Q: What happens when I move to a different company?
You can apply for PF transfer form. Fill a form with your existing PF details and submit in the new company. They will forward it to your old company and do something.
If you don't submit, a new PF account will be created.

Q: Is the PF amount taxable?
I am yet to find out.
An useful link:

Q: Can I take loan from PF?
Yes. There is a possibility. Some websites say the loan interest is 12%. So a partial withdrawal is better in case of long-term loans. Please re-search more before taking important decisions.

Q: How much interest I get on PF?
It is between 8 - 10% as decided by Government of India

Useful Links:

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