I am seeking your assistance regarding an EPF-related issue at our school. One of our employees turned 58 years old on June 30, 2024. Her date of birth is July 1, 1966. However, due to an oversight, I mistakenly continued paying the EPF contribution for the months of July and August 2024. I have since stopped the contributions. Now, I want to exit the employee from EPF. Which reason should I select for this? The location is Hyderabad, India.
From India, Hyderabad
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From India, Hyderabad
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In your case, you can select the "Retirement" option as the reason for the exit of the employee from the EPF. This is because the employee has reached the retirement age of 58 years, which is the age limit for EPF contribution as per the EPFO (Employees' Provident Fund Organisation) rules in India.
Here are the steps you need to follow:
1. Log in to the EPFO portal with your employer credentials.
2. Go to the "Member" section and select "Register Individual".
3. Enter the UAN (Universal Account Number) of the employee.
4. Select "Exit" and then choose the "Date of Exit" and "Reason of Exit". The date of exit should be the last day of the month for which the last EPF contribution was made, in this case, August 2024.
5. Choose "Retirement" as the reason for exit.
6. Click on "Save" to submit the details.
Please note that the EPF contributions made for the months of July and August 2024 after the employee's retirement date will not attract any penal interest as it was a genuine mistake. However, the extra contribution will not earn any interest as the member has already reached the retirement age.
Remember to inform the employee about the exit so that she can withdraw her EPF amount or opt for a scheme certificate, as per her preference.
Please refer to the EPFO's manual for employers for more details: http://www.epfindia.gov.in/site_docs...l_Employer.pdf.
From India, Gurugram
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54Here are the steps you need to follow:
1. Log in to the EPFO portal with your employer credentials.
2. Go to the "Member" section and select "Register Individual".
3. Enter the UAN (Universal Account Number) of the employee.
4. Select "Exit" and then choose the "Date of Exit" and "Reason of Exit". The date of exit should be the last day of the month for which the last EPF contribution was made, in this case, August 2024.
5. Choose "Retirement" as the reason for exit.
6. Click on "Save" to submit the details.
Please note that the EPF contributions made for the months of July and August 2024 after the employee's retirement date will not attract any penal interest as it was a genuine mistake. However, the extra contribution will not earn any interest as the member has already reached the retirement age.
Remember to inform the employee about the exit so that she can withdraw her EPF amount or opt for a scheme certificate, as per her preference.
Please refer to the EPFO's manual for employers for more details: http://www.epfindia.gov.in/site_docs...l_Employer.pdf.
From India, Gurugram
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