How to date of exit on EPFO portal while leaving job?by Estartup India Grow Business With Us
Employee Provident Fund or EPF is essentially a monetary helping scheme to satisfy the retirement targets. The EPF is a fundamental favourable position given by the Indian government to each and every salaried employee in India, on which fixed intrigue sum is routinely paid to him. Aside from a couple of cases, generally, the associations are required to have the compulsory EPF registration.
As of late, the Employees' Provident Fund Organization (EPFO) has now propelled the 'date of leave' office on the EPF government entrance. This will permit the EPF endorsers of update the leave date of their activity online after they change their employments. Already, the EPF account holders were subject to their ex-businesses to refresh their date of exit of the activity as the office was then not accessible online to the EPF endorsers.
Let us comprehend this in detail.
1. What is the procedure to update the date of exit on EPFO portal while leaving a job?
Presently employees can without much of a stretch update their date of exit of their activity on the EPFO entry itself. Here are the stages to follow for this procedure:-
· Stage 1: Log in to the EPFO govt gateway utilizing your UAN (Universal Account Number) and the secret phrase.
· Stage 2: Now explore to the "Oversee" segment and afterwards select the "Imprint Exit" alternative. Presently you will see the alternative to choose your PF account the number on the "select business" dropdown menu.
· Stage 3: Next you have to enter the date of exit of your activity alongside the legitimate explanation of leaving the activity.
· Stage 4: Select the "Solicitation OTP" fasten and afterwards enter your OTP sent to your Aadhaar-connected versatile number. Tick mark the checkbox and afterwards press the "Update" fasten and afterwards click "alright". Presently you will get a message revealing to you that the date of exit has been as of late refreshed by you.
· Stage 5: Once this is done, presently you can go to the "View" choice and go to "Administration History". Here you will see the date of joining alongside the date of exit from both the EPF and EPS plans.
2. What are the safety measures to be followed while changing the date of leaving the job?
Here are a few safety precautions should have been taken while you update the date of leaving of your activity on the EPFO entrance:-
· You can't refresh your date of leave 2 months preceding leaving your organization. This is on the grounds that as of late, numerous EPF endorsers had griped that their previous managers were not co-working while at the same time proclaiming the date of exit over the EPFO entry.
· Cautiously update your date of the exit of the activity. This is significant on the grounds that it may influence the entries of PF claims and their settlements later on.
· After you've changed your activity, on the off chance that the date of exit isn't right, at that point your present work will not be treated as ceaseless. In such a case, you may be approached to pay charge over the premium earned during the possibility time frame, which you've really not earned!
3. What is the importance of EPF registration for the employees?
For sure, the Employee Provident Fund has become an imperative piece of retirement arranging today.
· One of the away from of the EPF is that aggregated profits on PF are totally tax-exempt.
· Furthermore, there is an affirmation of the determined advancement of your reserve funds upon the development time period.
· If the PF account has continued for an uncommonly broad stretch, it can fundamentally help with meeting the retirement plans.
· Regardless, the affiliation qualified for a compulsory EPF registration should give the above points of interest to its employees.
4. What details are essential for getting EPF registration?
Following are the details needed for the Employers to get the mandatory EPF registration.
· Name & address of the company
· Head office & branch details
· Date of company incorporation
· Total employee strength
· Type of business activity
· Nature of business.
· Director/partners’ details
· Employee’s Basic info
· Employees’ salary details
· Bank account details of the company
· Company PAN card
It is always advised to get the EPF registration so as to become a responsible employer.
Created on Feb 13th 2020 06:47. Viewed 561 times.