Provident Fund and Miscellaneous Provisions Act, provides for compulsory contributory fund for the future of an employee after his retirement or for his dependents in case of his early death.

Provident is applicable on all the employees working in a company which has 20 or more than 20 employees. Provident fund applies to all persons getting wages less then Rs. 6,500. However some companies extend it to employees having Basic more than Rs. 6,500.

In Provident Fund employee can nominate any of his/her family members to get the PF amount after his/her death.

In PF Employees Contribution is 12% of Basic Salary and the Employer’s Share of 12% are divided into 2 components which are Provident Fund which is 3.67% and pension as 8.33%. Some companies opt for Pension on minimum wages recommended for Provident Fund which is Rs. 6,500. In such a scenario Rs. 541 goes to pension and balance out of 12% goes to Provident Fund. 

To Summarize the total amount which goes to Provident Fund is 15.67% (12% employee Share+3.67% of Employer’s Share) the Balance of 8.33% goes to Pension

Both Provident Fund and Pension can be withdrawn at the time of Death or at the time of Retirement. In case employee is out of job for more than 60 days he can also withdraw Provident fund and Pension after the above said period.

An employee can also opt for loan from his/her provident fund maintained with Regional Provident Fund Commissioner / Trust. The loan can be taken for

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An employee is eligible to apply for withdrawing his provident fund and Pension fund only after 2 months from the date of resignation, He/She can also withdrawal Provident Fund/ Pension at the time of Retirement, in an event of Death of employee his dependent can nominated in Form-2 can claim Provident Fund by filling Form-19 and Form 10-C for Pension provided that he / she remains unemployed for a period of 60 Days. The RPFC settles the claims only when the employer has paid full PF/pension contributions and also filed the PF/Pension returns for his period of employment.

- In this employee has to mention his PF Code provided by the PF office on the form along with complete personal      details,complete Bank address and Bank A/c Number.

- Employee has to get a Form 3A Form the employer in which his/her PF contributions are clearly mentioned.

- Once employee filled up all the details and attached 3A with the form he has to get it verified by the employer

- Then the form is send to RPFC for Submission and his Provident Fund are transferred to his/her Bank Account mentioned in his    Form.

Pension Amount can be withdrawn only on condition that the employee’s membership less then 10 Yrs and he are Unemployed. In case an employee shifts a job he is required to get a certificate for membership by filling Form 10D

An employee can get Pension only when he has 10Nyeras of membership. These Ten Years are counted for his earlier and present employers both provided he has membership for his earlier employer.

Procedure of filling the form is same as form-19

Then employee has to get it verified by the Employer and the form is sent to RPFC along with Form-19 & Form 3A.

A new employee who joins another company has to transfer the Provident Fund amount from his previous employer to his new company by filling the Form 13.

-   When an employee joins new company and he wishes to transfer his previous company provident fund amount, he should      inform the HR department or Accounts department of the new company.
-   The employee has to fill Form 13, in which he has to fill the details of previous company like  name, address, provident fund     account number and address of the provident fund office where the account was held.
-   On form 13, the signature of the previous employer is not required.
-   The New employee will fill his new PF Details and forward the Form to Regional Provident  Fund Commissioner/ trust for     transfer of his Provident Fund.