EPF Statement : What is it?

The employee provident fund account holder's settlement, advances, transfer-out, and transfer-in transactions across the various organizations where that person has worked are documented in an EPF statement.

It is a kind of online version of the PF status of the holder. A statement or e-passbook would contain information about each transaction, along with the date and month. Not only does the EPF statement show the most recent status of a PF account, but it also gives personal information like a person's name, phone number, and date of birth.

What elements make up an EPF Statement?

An EPF statement includes the following significant information:

Information essential: The establishment's name, establishment ID, and address are included in the EPF statement. You can also find information like the employee's name and birth date, as well as the date they joined the company.

Account number for PF: Your EPF number is the first thing on an EPF statement. The EPF number is an alphanumeric number that represents the state, establishment, regional office, and EPF member code for an unexempted organization. An exempt organization receives a unique account number that is entirely numeric.

Number of UAN: Every employee is required to have a UAN, or universal account number, which is a twelve-digit number. It is distinct from the PF account number that is generated whenever an employee joins a new company. The UAN will be linked to every member's PF account number, also known as their ID. Provide your new employer with your UAN number when changing jobs because it helps better manage your PF account.

Balance opening: The opening balance will be shown in both the employer-employee columns of the PF statement. The total contributions (employer and employee columns) as well as the interest earned during the previous fiscal year are shown in the opening balance.

Contributions each month: A comprehensive breakdown of the monthly contributions made by both the employer and the employee in rupees will be provided in the PF statement or passbook. In addition, a separate figure for the Employees' Pension Scheme, or EPS, is included in the statement. Despite the fact that both the employer and the employee contribute 12% of their income in an equal amount, their contributions are completely distinct.

Contributory Savings Account: Under the "Voluntary Provident Fund" column, an employee can contribute more to PF than the 12% required. The employees' individual contributions are shown separately. It is important to keep in mind that the employer is not required to match the VPF contribution, so there may not be a figure displayed.

Interest: The PF account receives annually the interest earned on employer and employee contributions. Based on the account balances each month, an estimate of the earned interest is made. The estimated interest rate, as announced by the government, will be provided in the PF statement.

Withdrawals: Employee withdrawals of any kind will also be documented and consistently accounted for.

Final balance: The closing balance is the sum of the contributions made by employees and the interest they have earned, as well as the sum of the contributions made by employers and the interest they have earned. The opening balance for the following fiscal year will be these balances.

How Do I Look Over My EPF Statements?

The PF Statement after EPF Registration can be checked in the following ways:

Utilizing the EPFO Portal To begin checking one's EPF balances or statements, one must first ensure that their employer has enabled their universal account number, or UAN.

The EPF scheme's universal account number, or UAN, is a one-of-a-kind number for each employee. The EPFO, or Employee Provident Fund Organization, generates a UAN number. Regardless of the organization to which they switch, each employee is required to have one UAN number during their service period.

Follow these instructions once the UAN is enabled:

• Go to EPFO's website. Choose the "Our Services" tab and select the "for employees" option from the menu.
• Next, select the "Member passbook" option under the "Services" option.
• A login window will appear. After it has been enabled, you must enter the password and your UAN number here.
• After you have finished logging in, your EPF account can be accessed.

Sending an SMS

It is critical to combine your UAN number and your KYC information, which includes information about your PAN, Aadhaar, or bank account. You won't be able to get an SMS with your EPF statement or balance until then.

Follow these steps after merging your KYC information with your UAN number:

• Call the mobile number 7738299899 and send a message.
• The message must be sent as EPFOHO UAN ENG. To accomplish this, you will need to enter the language's first three characters. For instance, if you want to receive English-language news, type EPFOHO UAN ENG, where ENG stands for English, using the first three characters of the word.
• Enter EPFOHO UAN MAR, where MAR stands for Marathi, to receive updates to messages in that language.

Punjabi, Gujarati, English, Hindi, Telugu, Tamil, Marathi, Bengali, Malayalam, and Kannada are the available languages for this service.

By making a missed call,

You can also inquire about the EPF balance or statement by making a missed call to the authorized phone from your registered mobile number. You can only use this feature if your UAN and your KYC information are integrated. You can always ask your employer for assistance if you are unable to do this on your own.

Follow the steps below once the KYC details are integrated with your UAN:

• You must call 011-2290-1406 from the registered mobile number.
• You will receive a message with all of the information about your PF statement if you make a missed call to the number.

Using the EPFO app

• You can simply download the "m-sewa app of EPFO" to your phone from the Google Play Store to check your EPF balance or statement.
• After downloading the app, select the "Member" option and then the "Balance/Passbook" option.
• Enter your UAN and registered mobile number.

The framework will really look at your UAN against your versatile number. You can review the details of your updated EPF statement or balance once all the information has been checked out. In case of a confound or wrong data, it will show a mistake.