How To?

EPF Form 10D – Eligibility, Documents Required, And How To Fill

Personal Finance

Working with all your abilities is the best part of your life. There are many things to learn and things to understand about your skills and limitations. It is also when you will have to make the most of your savings out of your earnings.

In the event you are considering knowing more about an employee’s provident fund, there are a few things you will need to know, especially when it comes to being on the brink of filling out the EPF 10D form. Stay hooked to this read – it will help you learn about this subject. 

What is EPF 10D Form? 

You must be the one about to retire, and thus, you are looking into info about the 10D form. An employee registered under the Employees Provident Fund Organization will cater to the EPF 10D form.

You need to know that under this scheme, you will be eligible to be able to claim your superannuation remuneration after you retire. That means while you are 58, you can claim your pension scheme.

An employee can reduce the pension as they reach 50 years of age at a rate of 4% each year. That is when you will have to fill out the 10D form. Let us look at some more details about EPF.

Benefits of EPF 

Before delving into details, you need to first understand the advantages of EPF:

  • Tax saving scheme: When you cater to EPF, you get tax-exempt from the income tax. The amount gets deposited into your EPF account. 
  • Capital appreciation: The government of India has created a fixed capital for the EPF. Hence, the employees need to bear the responsibility of investing money. 
  • Financial emergency: The accumulated fund can be used for unforeseen events and occurrences. 

Eligibility for EPF 

Here is the eligibility criteria for EPF:

  • You should be a salaried employee
  • A widow or a widower can also fill out the form. 
  • A major or a guardian could be eligible.
  • A nominee could be eligible for Employees Provident Fund 10D form.
  • A dependent parent can be eligible for the pension scheme of EPF

Documents Required for EPF 10D Form

A few specific documents that the government has strictly mentioned must be provided to cater to EPF 10D:

  • A complete descriptive role of the pensioner, their full signature, and thumb impression. 
  • You will need to provide three passport-sized photographs to the EPF office. 
  • If a disabled individual wants to get through EPF 10D, there is a dire need to undergo a detailed medical check-up. You will then need to provide the details attached to the EPF form. 
  • You will need to strictly specify the wages you receive or your salary threshold. 
  • In the unlikely event of the authorised company shutting down, and no authorised or designated individual to forward your list, you will have to get it sanctioned by the bank manager. 

These are a few documents that you will need to provide before finally signing for the EPF 10D form. However, it can take as many as 30 days for the pension amount to get credited to the beneficiary account. You must submit your 30-day receipt to the organisation once you receive your pension.

If the commissioner fails to deliver the pension within thirty days of your buffering time, you must hold that individual accountable for the delay. As per the regulation, there is a penalty that must be paid for the delay by the commissioner. 

How to Fill Out the EPF 10D Form?

Below is the process to fill out the EPF 10D form:

  • The applicant will need to provide the name and relationship of the account holder. If you are filling out the form for yourself, you need not specify the relationship.
  • The applicant must also mention the type of pension one caters to, whether or not it is a superannuation, disablement, widow or children, or nominee. 
  • You will then have to provide details such as the name, gender, marital status, date of birth, and father’s or husband’s name. 
  • Then, you will need to fill in the accounts of a number of your organization. In that respect, it is important to mention whether or not it is a regional office. 
  • You will have to provide the name and address of the organisation that you are employed under last before your retirement. 
  • You will then have to provide the date of leaving the service in (dd/mm/yy) format. 
  • You will also have to mention the reason behind leaving the organisation. You will also have to mention this if the pension is being drawn. 
  • A few details about the bank’s name under which the EPF account is being processed. 
  • Once you are done, you will need to attach all your documents and the form.  

Final Thoughts

An EPF is a tax-saving investment scheme ideal for salaried employees. It is a low-risk investment that provides a stable source of income upon retirement and helps you with financial emergencies. To apply for an EPF account, you need to fill out the EPF 10D form and provide the necessary documents.

Now that you have a clear idea about EPF 10D form, you can visit the Piramal Finance website and read related blogs and articles.