1. What Is A Covered Establishment?
A covered establishment is one which has 20 or more persons employed and which has been listed in the EPF Act, 1952
2. Who Will Be Covered Under The Pension Scheme?
Every member of the EPF who joined the Pension scheme after 16.11.1995 and members who were covered under the Family Pension Fund scheme 1971 (since ceased) are covered under the present pension scheme
3. If An Employee Is Not Covered Under Family Pension Scheme, Can That Person Join The Family Pension Scheme?
One can join the Family Pension scheme by transferring the Family pension scheme contribution from the balance in the Provident Fund account from the date of joining or 1.3.1971, whichever is later.
4. What Is The Number Of Years Of Service Required For An Employee To Be Eligible For Member Pension?
The minimum eligible service required for a member to be eligible for member pension is 10 years.
5. Who Are The Beneficiaries Of The PF Scheme?
The member is the primary beneficiary of the fund and in his/her absence the immediate family of the member will become the beneficiaries.
6. In PF Parlance What Does Family Mean?
For the purpose of disbursement of the fund dues the family is deemed to be the members spouse and children below the age of 25 years.
7. What Is Nomination And How Is It Registered?
Nomination is the process of naming one or more persons to receive the balance in the Provident fund account in the event of the death of the member.
Every member while joining the EPF has to fill the details of himself and his family members for the purpose of the Pension scheme and the details of the nominee for the Provident Fund amount in the specified form No.2. The nomination so made is registered in the books of the EPF Organization.
8. Is It Possible To Change The Nomination Once Made?
It is possible for a member to change the nomination within the framework of the rules laid down. The rule states that the nomination should in the ordinary course be made in favour of a member of the family. In the event of the member not having a family, any other person of his choice can be made the nominee.
9. What Is The Voluntary Rate Of Payment To PF By A Member And The Employer?
The act stipulates that a member has to contribute 12% of basic and DA. If the member so desires, the contribution can be increased as per the desire of the member even upto 100% of Basic and DA. The employer on the other hand is required to pay 12% of the employees Basic and DA as contribution and is not bound to match the enhanced rate paid by member.