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Business News/ Money / Personal Finance/  EPF: Which claim form you should use? An explainer

EPF: Which claim form you should use? An explainer

When you are looking for an advance from provident fund account, then you need to apply for composite form (aadhaar). And when you want to settle pension fund after crossing 58 years of service, you can apply in form 10D

Subscribers need to apply in different forms for different purposes

If you are an EPF subscriber, and are looking for the withdrawal of funds from your account, then you need to apply in a prescribed format.

There could be multiple circumstances such as while looking for an advance from provident fund (PF) account, or while wanting your LIC policy to get financed through your PF account, and so on and so forth.

Let us understand which form you would need in which situation.

Different forms to use

I. When you are looking for an advance from provident fund account:

In this case you need to apply for a composite form (aadhaar).

II. When do you want LIC policy to be financed through my PF account?

For this you need to apply in form 14.

III. Want to settle a pension fund as I have crossed 58 years of service and have completed 10 years of eligible service?

You can apply in form 10D. And in case you have not completed 10 years of eligible service as on 58 years of age then you can apply for composite claim form (aadhaar) and composite claim form (non-aadhaar).

Meanwhile, in another news, EPFO has announced to put the enhancement of gratuity on account of increase in dearness allowance (DA) in abeyance with immediate effect.

Government has raised additional dearness allowance (DA) and dearness relief (DR) to central government employees and pensioners effective January 1.

The DA was raised from 46 percent to 50 percent of the basic pay or pension. This was set to benefit nearly 4.9 million government employees and 6.79 million pensioners, costing the exchequer total of around 12,868.72 crore.

ALSO READ: Cabinet approves 4% hike in Dearness Allowance for government employees

The decision of raising the DA and DR was taken in the run up to general elections and was aimed to soften the impact of inflation on government employees and pensioners.

Additionally, EPFO has released a circular announcing a new email ID with regards to NPS related matters. The new email id is epfohq.nps@epfindia.gov.in. This was announced in a circular released on May 3, 2024.

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