Benefits of EPF e-passbook facility

CS Lalit Rajput , Last updated: 20 January 2023  
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EPFO is an innovation driven social security organisation aiming to extend universal coverage and ensuring Nirbadh (Seamless and uninterrupted) service delivery to its stakeholders through state-of-the-art technology.

Aim is to provide for the institution of provident funds for employees in factories and other establishments.

The EPFO e-passbook facility displays your total account balance month-wise and for the financial year. You can also see the break-up of employer and employee share as well as the portion that is directed to EPS (employees’ pension scheme). Interest credited for the financial year is also reflected in the statement.

Benefits of EPF e-passbook facility

Key Benefits

  • EPF passbook is a document that contains all contributions made by the employee as well as the employer in EPF and EPS accounts.
  • All contributions made each month are mentioned in the EPF passbook.
  • The passbook contains any interest that has been deposited in the beneficiary's account.
  • This facility is to view the Member Passbook for the members registered on the Unified Member Portal.
  • Passbook will be available after 6 Hours of registration at Unified Member Portal.
  • Changes in the credentials at Unified Member Portal will be effective at this Portal after 6 Hours.
  • Passbook will have the entries which have been reconciled at the EPFO field offices.
  • Passbook facility not be available for the Exempted Establishments Members / Settled Members / InOperative Members.
  • This portal can be use to raise a claim for a partial withdrawal to meet expenses such as house purchase, treatment of critical illness, higher education and so on.
  • The portal also allow to check claim and request for transfer status.
 

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

 
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Published by

CS Lalit Rajput
(Company Secretary)
Category Corporate Law   Report

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