Resolving Your EPF Concerns: A Guide to Online Grievance Registration The Employees' Provident Fund (EPF) scheme safeguards your retirement savings. Administered by the Employees' Provident Fund Organisation (EPFO), the scheme ensures contributions are collected and allocated to the right individuals. With a vast number of participants, questions and grievances can arise. Thankfully, the EPFO offers a user-friendly online grievance redressal system called the EPFiGMS. Understanding the EPFiGMS The EPFiGMS streamlines communication between EPF members and the EPFO. Here are some key features: Online Grievance Registration: File complaints conveniently using a Universal Account Number (UAN) and OTP verification. Grievance Status Tracking: Monitor the progress of your registered grievances and receive updates. Reminder Functionality: Send reminders for unresolved complaints to ensure timely action. Document Upload Option: Attach relevant documents to support your claims and expedite resolution. Scenarios Where You Might Use the EPFiGMS Partial EPF Withdrawal Form 13 (Scheme Certificate) or Form 10C (PF Accumulation) Issues Pension Settlement or PF Balance Concerns Type 51F Payment or Insurance Coverage Disputes Fund Allocation or Transfer Problems Registering an EPF Grievance Online Visit the Official Website: Access the EPFiGMS portal at https://epfigms.gov.in/. Navigate to Grievance Registration: On the homepage, locate the "Register Grievance" tab and click on it. Select Your Status: Choose the appropriate option under "Status." If you don't have your PF number, select "Others." Enter UAN Details: Enter your UAN and the security code displayed on the screen. Click on "Get Details." Verify Your Information: The system will display your name, UAN, email ID, and mobile number. Confirm their accuracy. Receive and Enter OTP: Click on "Get OTP" to receive a one-time password on your registered mobile number. Enter the OTP in the designated field. Select PF Number: Under "Personal Details," choose the relevant PF number associated with your grievance. Specify Grievance Details: In the "Grievance Details" section, select the category most aligned with your complaint. Clearly describe the issue you're facing. Attach Supporting Documents: Click on "Choose Files" and then "Attach" to upload any relevant documents that strengthen your case. Submit Your Grievance: Once you've reviewed all information, click on the "Submit Grievance" button to register your complaint. Tracking the Status of Your Grievance Return to the EPFiGMS Website: Visit the EPFiGMS portal (https://epfigms.gov.in/) again. Click on "View Status": Locate and click on the "View Status" option. Enter Registration Details: Provide the registration number you received when you filed the complaint. Authentication: Enter your grievance password or mobile number/email ID used during registration (if applicable). You'll also need to enter the displayed security code. Click "Submit": Click on the "Submit" button to view the current status of your grievance. Sending Reminders for Unresolved Grievances Access the EPFiGMS Portal: Visit the EPFiGMS website (https://epfigms.gov.in/). Select "Send Reminder": Choose the "Send Reminder" option from the available menu. Enter Registration Number: Provide the registration number assigned to your complaint. Authentication: Enter your grievance password or mobile number/email ID used during registration (if applicable). Additionally, type in the reminder description and the displayed security code. Submit Reminder: Click on the "Submit" button to send a reminder regarding your unresolved grievance. Benefits of Using the EPFiGMS The EPFiGMS offers advantages for members and employers: Simplified Grievance Registration Transparency and Visibility Faster Resolution Improved Efficiency Data-Driven Problem Solving Convenience for Employers Empowering Members By utilizing the EPFiGMS, members can ensure their retirement savings are managed effectively and address any concerns promptly. The online grievance redressal system promotes transparency, efficiency, and faster resolution for a more robust EPF experience.
Public Provident Fund (PPF): A Secure Long-Term Savings Option in India The Public Provident Fund (PPF) is an Indian government-supported savings scheme introduced in 1968 to promote long-term savings and investment. With enticing interest rates, tax advantages, and assured returns, it has become a favoured option among many Indian citizens. Understanding PPF At its core, a PPF account functions like a long-term investment vehicle. Investors deposit money regularly over a set period, and the interest earned is compounded annually. This implies that the interest is computed not only on the principal investment but also on the accrued interest from preceding years, resulting in accelerated growth of the invested sum. Benefits of Investing in PPF Guaranteed Returns: Unlike market-linked investments that fluctuate based on market conditions, PPF offers stable and guaranteed returns determined by the government of India. This makes it a low-risk option for securing your future. Tax Advantages: Investments in PPF qualify for tax deductions under Section 80C of the Income Tax Act. The principal amount invested, as well as the interest earned, are exempt from income tax up to a maximum investment of Rs. 1.5 lakh per year. Additionally, the entire maturity amount upon account closure is tax-free. Long-Term Savings Discipline: The PPF scheme encourages regular saving habits. While there is a minimum annual investment of Rs. 500, contributions can be made in instalments throughout the year. Government Backing: As a government-backed scheme, PPF accounts are highly secure. The invested amount is not subject to attachment by court orders, providing an extra layer of security for your savings. PPF Account Key Features Investment Tenure: A PPF account has a lock-in period of 15 years. After maturity, the account can be extended in blocks of 5 years with continued investment options. Interest Rate: The current interest rate offered on PPF accounts is 7.1% per annum (as of April 17, 2024). The interest rate is reviewed quarterly by the government and can be subject to change. Investment Limits: In a single financial year, you can deposit a minimum of Rs. 500 and a maximum of Rs. 1.5 lakh in a PPF account. You have the option to invest in lump sums or instalments, with a maximum of 12 instalments permitted per year. Loan Facility: Investors can access loans against their PPF account balance from the 3rd to the 5th year after the account opening date. The maximum loan amount is limited to 25% of the balance from the second preceding year. Eligibility: Indian citizens residing in India can open PPF accounts. Minors can also have accounts opened in their names by their parents or guardians. Non-resident Indians (NRIs) cannot open new PPF accounts, but existing accounts can remain active until maturity. Making Withdrawals from a PPF Account PPF accounts come with a mandatory lock-in period of 15 years. However, there are provisions for partial withdrawals under specific circumstances. Partial withdrawals can be made only after the completion of 5 years from account opening and are limited to 50% of the balance in the preceding year. How to Open a PPF Account PPF accounts can be opened through designated branches of authorized banks or post offices in India. The process typically involves submitting KYC documents for identity verification, a PAN card, address proof, a nominee declaration form, and passport-sized photographs. Conclusion The Public Provident Fund scheme offers a secure avenue for long-term wealth creation in India. With its guaranteed returns, tax benefits, and government backing, PPF is a suitable investment option for individuals seeking a safe and reliable way to grow their savings and achieve their financial goals.
Pradhan Mantri Gramin Awas Yojana: Building Homes in Rural India Launched in 2016, PMAY-G is the successor to the Indira Awas Yojana, a social welfare program introduced in 1985. PMAY-G aims to be more extensive, providing not only permanent housing but also basic amenities like electricity, LPG connections, and improved road connectivity. Key Features of PMAY-G Cost-Sharing Between Government and States: The financial burden for building these houses is shared between the Central and State governments. In most states, the cost is divided in a 60:40 ratio, with the Central government contributing the larger share. However, hilly states and the union territory of Jammu and Kashmir receive a higher contribution of 90% from the Centre. Union Territories other than Jammu and Kashmir receive 100% funding from the Central government. Focus on Permanent Housing: PMAY-G prioritizes replacing temporary and inadequate housing units with pucca (permanent) houses. These houses are designed to be a minimum of 25 square meters and come equipped with a hygienic kitchen area. Financial Assistance for Toilets: Recognizing the importance of sanitation, the scheme provides an additional Rs. 12,000 per beneficiary for constructing toilets alongside each house. This additional funding comes under the Swachh Bharat Mission-Gramin (SBM-G), another government initiative promoting cleanliness in rural areas. Wage Support under MGNREGS: Beneficiaries can receive Rs. 90.95 per day as unskilled labour under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). This provides additional financial support during the construction phase. Transparent Selection Process: PMAY-G emphasizes transparency in selecting beneficiaries. Socio-economic data from the Socio-Economic and Caste Census (SECC) is used to identify eligible families. Gram Sabhas (village councils) then verify the data and submit it to the administration for final approval. Direct Benefit Transfer: Payments are electronically transferred directly to the bank accounts of beneficiaries, ensuring funds reach those who truly need them. Aadhaar data is also used for verification purposes to minimize fraud. PMAY-G Application Visit the official PMAY-G website. Provide personal details, including Aadhaar number, mobile number, and other relevant information. Upload a signed consent letter (if applicable) authorizing the use of Aadhaar data. Search your name on the beneficiary list to check your eligibility and priority status. If eligible, register and update your details as needed. If interested in a loan under the scheme, specify the loan amount. Upload documents related to SBM and MGNREGS. PMAY-G Benefits The scheme offers a multitude of benefits to eligible families: Affordable Housing: Financial assistance from the government makes constructing a permanent house a more achievable goal for rural families. Subsidized Loans: Beneficiaries can avail of loans up to Rs. 70,000 from designated financial institutions at subsidized interest rates, lower than regular loan rates. Additional Support: The scheme provides support for constructing toilets and offers benefits like LPG connections under the Ujjwala Yojana. Houses built in hilly areas may also receive increased financial assistance. Eligibility for PMAY-G The scheme targets several categories of rural families who lack proper housing: Landless and homeless families. Families residing in dilapidated or non-permanent houses with walls and roofs made of impermanent materials. Households without a literate adult male member above 25 years old. Families without a member between the ages of 15 and 59. Households with disabled members. Families’ dependent on casual labour for income. Minority communities, Scheduled Tribes, and Scheduled Castes. Required Documents Aadhaar card (original and self-attested copy A consent letter authorizing the use of Aadhaar data (only required if the beneficiary is illiterate and their thumbprint is submitted). MGNREGS job beneficiary card (duly registered). Bank account details (originals and duplicates). Swachh Bharat Mission (SBM) number.
Withdrawing Your EPF Online: A Simplified Guide The Employees' Provident Fund (EPF) is a retirement savings scheme offered by the Government of India. It allows employees and employers to contribute a portion of their salary towards a retirement corpus. Fortunately, withdrawing your EPF funds can now be done conveniently online. Benefits of Online EPF Withdrawal Convenience: You can complete the entire process conveniently from home, eliminating the necessity to visit government offices. Faster Processing: Online applications are generally processed quicker than paper-based claims. Transparency: You can track the status of your claim application online. Reduced Paperwork: The online process minimizes the need for physical documents. Eligibility for Online EPF Withdrawal Activated UAN: Your Universal Account Number (UAN) should be active. KYC Verification: Your KYC (Know Your Customer) details, including Aadhaar, PAN, and bank account information, must be linked to your UAN. Minimum Service Period: The eligibility for withdrawal depends on the reason for withdrawal and your service period. Online EPF Withdrawal Process Visit the EPFO website: Go to the official EPFO website (https://www.epfindia.gov.in/). Login: Use your UAN and password to log in to your EPF account. Enter the captcha code displayed for verification. Verify KYC: Navigate to the 'Manage' tab and select 'KYC' to ensure your KYC details are verified and up-to-date. Access Online Services: Go to the 'Online Services' tab and choose 'Claim (Form 19, 31 & 10C)'. Review Details: The following screen will display your KYC information and other service details. Verify their accuracy. Verify Bank Account: Enter the last four digits of your registered bank account and click on 'Verify'. Online Certificate of Undertaking: A pop-up window will appear requesting confirmation that the EPF claim amount will be credited to the mentioned bank account. Select 'Yes' to proceed. Choose Claim Type: Click on 'Proceed for Online Claim'. Under the 'I Want to Apply For' option, select the appropriate type of withdrawal: Full EPF Settlement EPF Part Withdrawal Pension Withdrawal Reason for Withdrawal: For partial withdrawal, choose the reason from the 'Purpose for which advance is required' option. Enter Withdrawal Amount: If applicable, enter the amount you wish to withdraw. Upload Documents: Upload scanned copies of any required documents for approval. (Employer approval might be necessary for certain withdrawals.) Submit Application: Review your application details carefully. Once confirmed, submit the online application. EPF Withdrawal Forms The EPF withdrawal amount is typically credited to your bank account within 15-20 working days from the date of application. EPF Form 19: Used for final settlement of EPF upon retirement or unemployment exceeding two months. EPF Form 31: For partial withdrawal of EPF, applicable only after retirement or unemployment exceeding two months. EPF Form 10C: For withdrawal of Employee Pension Scheme (EPS) funds while remaining a member of the pension fund. Documents for Online EPF Withdrawal Aadhaar Card PAN Card Cancelled cheque with bank account number and IFSC code Tax Implications on EPF Withdrawal The tax liability on your EPF withdrawal depends on your service tenure with your employer at the time of withdrawal: Under 5 years: If you haven't completed five years of service, a 10% TDS applies if your PAN is furnished. Without PAN, the TDS is 34.6%. Beyond 5 years: No TDS is deducted if you've served for more than five years continuously with the same employer. Exemption: Individuals with less than Rs. 50,000 in their EPF account during the withdrawal time are exempt from TDS irrespective of their service period. However, they must mention the withdrawn amount while filing ITR.
Keeping Track of Your Retirement Savings: A Guide to Checking Your EPF Balance The Employee Provident Fund (EPF) is a social security scheme in India that helps you build a retirement corpus. Every month, a portion of your salary is deposited into your EPF account, accumulating savings for your golden years. But how do you stay informed about the amount accumulating in your account? This guide will explore various methods for conveniently checking your EPF balance. Understanding Your EPF Balance Your EPF balance reflects the total amount of your salary contributions deposited into your EPF account over time. This includes contributions from both you and your employer, typically amounting to 12% of your basic salary (including dearness allowance, if applicable). Remember, there are two components to your EPF: Employee's Contribution (12%): This entire portion goes into your EPF account. Employer's Contribution (12%): Out of the employer's contribution, 3.67% is credited to your EPF account, while the remaining 8.33% goes towards your Employee Pension Scheme (EPS). Exploring Methods to Check Your EPF Balance Here are several convenient ways to access your EPF balance: 1 EPFO Member Portal using UAN: The Universal Account Number (UAN) acts as a single umbrella for managing your EPF across different employers. To check your balance using the EPFO portal: Visit the EPFO member portal: https://unifiedportal-mem.epfindia.gov.in/ Select "Know Your Balance" at the bottom of the page. Choose your regional EPF office location. Enter your PF account number and registered mobile number. You'll receive an SMS notification with your EPF balance. Alternatively, you can use your UAN credentials: Visit https://unifiedportal-mem.epfindia.gov.in/. Enter your UAN and password. Select your EPF state and city. You will receive an SMS with your EPF balance. 2. UMANG App: Download and install the UMANG app on your smartphone to conveniently check your EPF balance on the go. Open the UMANG app and select the EPFO option. Choose "Employee Centric Services." Click on "View Passbook." Enter your UAN and the one-time password (OTP) sent to your registered mobile number. Click on "Login" to view your EPF transactions, including deposits and withdrawals from current and previous employments. 3. Missed Call Service: For a quick and easy balance check, you can utilize the missed call service: Simply give a missed call to 9966044425 from your mobile number registered with your UAN. Ensure your Aadhaar card, PAN, and bank account number are linked to your UAN for this service to function. 4. EPF Passbook Portal (Without Registered Mobile Number): Even if your mobile number isn't registered, you can check your balance through the EPF Passbook Portal: Go to the official website: https://passbook.epfindia.gov.in/MemberPassBook/Login Sign in using your UAN and password. Choose the PF account you wish to review. Click on "View PF Passbook Old." The screen will display your total employee and employer contributions. SMS Service: UAN-activated employees can check their balance via SMS: Send an SMS to 7738299899 with the text "EPFOHO UAN ENG". (Replace "ENG" with your choice of language code for receiving the details). This service is available in Marathi, Bengali, Kannada, Malayalam, Hindi, Tamil, Telugu, Gujarati, Punjabi, and English. Ensure your Aadhaar, PAN, and bank details are linked to your UAN for this service to work. Maximizing Your EPF By regularly checking your EPF balance, you can stay informed about your retirement savings progress. Contributions to your EPF offer tax benefits under Section 80C of the Income Tax Act.
Jeevan Pramaan Patra: A Convenient Way for Pensioners to Manage Life Certificates In India, the government offers various pension schemes to ensure financial security after retirement. However, to receive these pensions, retirees need to submit a Life Certificate annually as proof of being alive. This process could be inconvenient, especially for elderly or geographically limited individuals. Jeevan Pramaan Patra (Jeevan Pramaan Certificate) is a government initiative that simplifies life certificate submission for pensioners. It's a digital certificate based on the Aadhaar card. Understanding Jeevan Pramaan Patra Jeevan Pramaan Patra eliminates the need for physical visits to certification authorities or pension disbursement agencies. It leverages Aadhaar for biometric authentication, making the process secure and hassle-free. Here's how it works: Registration: Pensioners can register through the Jeevan Pramaan mobile app or website. They'll need to provide Aadhaar details, pension order information, and bank details. Authentication: After registration, pensioners use the app to initiate the life certificate generation process. Biometric authentication (fingerprint or iris scan) using their Aadhaar card verifies their identity. Life Certificate Generation: Upon successful authentication, a digital life certificate is generated and stored securely in the Life Certificate Repository. Pensioners receive an SMS notification with their Jeevan Pramaan ID. Accessibility: Both pensioners and their pension disbursing agencies can access the life certificate anytime from anywhere. Pensioners can also choose to have their certificate electronically delivered to their disbursement agency. Benefits of Jeevan Pramaan Patra Convenience: Jeevan Pramaan eliminates the need for in-person visits, saving time and effort for pensioners, especially those with limited mobility. Security: Aadhaar-based biometric authentication ensures the legitimacy of the certificate and reduces the risk of pension fraud. Transparency: SMS notifications keep pensioners informed about certificate generation, promoting transparency in the process. Efficiency: Online access to life certificates expedites pension processing, leading to timely payments. Universality: Jeevan Pramaan Patra is recognized under the IT Act and is valid across India for pensioners of central, state, or other government organizations. Eligibility and Requirements To obtain a Jeevan Pramaan Patra, individuals must meet the following criteria: Pensioner Status: Applicants must be retired employees receiving a pension from the central, state government, or other government organizations. Aadhaar Card: A valid Aadhaar card is mandatory for registration. Mobile Phone: A registered and functional mobile phone number is required for receiving OTPs (One-Time Passwords) during registration and authentication. Registration Process Pensioners can register for Jeevan Pramaan Patra through two methods: Online Registration: Download the Jeevan Pramaan app or visit the Jeevan Pramaan website. Register as a new user and provide necessary details like Aadhaar number, bank account information, and pension payment order number. Verify your mobile number using an OTP. Upon successful verification, a Jeevan Pramaan ID will be generated. Jeevan Pramaan Centre: Visit a nearby Jeevan Pramaan centre located in banks, government offices, or CSCs (Common Service Centres). Provide required documents like Aadhaar card, bank details, pension order number, and mobile number. Centre personnel will assist with registration on the spot. Generating the Jeevan Pramaan Certificate Once registered, pensioners can generate their digital life certificate using the Jeevan Pramaan app: Log in to the app using an OTP. Select "Generate Jeevan Pramaan" and enter your Aadhaar number and mobile number. Verify your identity through fingerprint or iris scan using your Aadhaar card. The generated Jeevan Pramaan Patra will be displayed on the app. An SMS confirmation will be sent to your registered mobile number. Jeevan Pramaan Patra promotes convenience, security, and efficiency in pension disbursement, benefitting a large population of retired government employees.
Pradhan Mantri Awas Yojana: Making Affordable Housing a Reality in India The launch of the Pradhan Mantri Awas Yojana (PMAY) in 2015 marked a transformative milestone for numerous Indian families. This government-backed scheme aims to bridge the gap between the high demand for affordable housing and the ever-increasing costs. Who Can Benefit from PMAY? PMAY caters to individuals and families belonging to lower and middle-income groups, categorized as Economically Weaker Section (EWS), Low-Income Group (LIG), Middle-Income Group I (MIG I), and Middle-Income Group II (MIG II). Here's a quick guideline to see if you qualify: EWS: Annual income up to Rs. 3 Lakh LIG: Annual income between Rs. 3 Lakh and Rs. 6 Lakh MIG I: Annual income between Rs. 6 Lakh and Rs. 12 Lakh MIG II: Annual income between Rs. 12 Lakh and Rs. 18 Lakh Two Pillars of PMAY Pradhan Mantri Awas Yojana Gramin (PMAY-G): This section focuses on rural areas, helping families in villages and slums access financing for their homes. Pradhan Mantri Awas Yojana Urban (PMAY-U): This section caters to urban areas, encompassing over 4,300 cities and towns across India. It also covers various developmental authorities responsible for urban planning. Interest Rate Subsidy PMAY functions as a Credit-Linked Subsidy Scheme (CLSS). This means if you're eligible and opt for a loan to purchase or construct a new house, you can benefit from an interest rate subsidy on the home loan. The subsidy amount changes based on your income category: EWS & LIG: 6.5% interest subsidy MIG I: 4% interest subsidy MIG II: 3% interest subsidy How Much Can You Save? Let's understand how the subsidy translates to real savings. Consider Mr. Amit, who belongs to MIG I and is applying for a home loan of Rs. 40 Lakh. At a regular interest rate of 8.50% p.a., his interest repayment would be significant. However, since he falls under MIG I, Rs. 9 Lakh of his loan amount is eligible for the PMAY interest subsidy. This means he would only pay the original interest rate on Rs. 31 Lakh, with a subsidized rate of 4.00% on the remaining Rs. 9 Lakh. This translates to substantial savings on his overall interest outgo. Eligibility Criteria Woman Ownership or Joint Ownership: A woman, preferably the wife or mother in the family, should be named as a beneficiary on the property papers. This can be sole ownership or joint ownership. New Property Purchase: PMAY is applicable only for the purchase of a new property. You cannot avail the benefit for renovations or extensions of existing homes. No Prior Government Housing Benefits: You should not have received any central assistance or benefits from other housing schemes offered by the central or state government. Location Matters: The house or property must be located within the designated census areas, towns, villages, or cities. No Prior Loan Under CLSS: You cannot have availed of benefits under PMAY or any other credit-linked subsidy scheme from any financial institution beforehand. Time-Bound Completion for Renovation: If your main intention for the home loan involves renovating or expanding an existing property, the work must be finished within 36 months of receiving the initial loan installment. Applying for PMAY: A Smooth Process Visit the official PMAY government website. Click on the 'Citizen Assessment' option under the 'Menu' tab. Enter your Aadhaar number. Fill in all relevant details, including income, personal, bank, etc. Carefully review your application. Upon submission, you'll receive a unique application number. Download the form. Submit the form with necessary documents at your nearest CSC office or a financial institution offering PM
Pradhan Mantri Jan Arogya Yojana (PMJAY): Affordable Healthcare for India's Low-Income Families Rising medical costs pose a significant challenge, especially for low-income families in India. Recognizing this gap, the Pradhan Mantri Jan Arogya Yojana (PMJAY), also known as Ayushman Bharat, was launched in September 2018 to bridge the affordability gap and provide quality healthcare access to these populations. PMJAY is the world's largest government-funded health insurance scheme, offering a covetable Rs. 5 lakh (US$6,700 approx.) per family per year. This scheme targets over 50 crore (500 million) beneficiaries, encompassing nearly 10.74 crore poor and vulnerable families across India. Key Features Financial Coverage: PMJAY offers cashless and comprehensive coverage of Rs. 5 lakh on a family floater basis. This implies that the entire family can avail benefits up to this limit. Hospitalization Coverage: The scheme covers secondary and tertiary care hospitalization expenses across a network of empanelled hospitals in India, both public and private. Pre-Existing Illness Coverage: Unlike many private health insurance plans, PMJAY covers pre-existing illnesses from the very beginning of the policy. Free for Beneficiaries: This government-funded scheme eliminates any financial burden on beneficiaries. The Central and State Governments share the premium cost in a 60:40 ratio. Who is Eligible? PMJAY beneficiaries are identified based on a socio-economic and occupational criteria analysis conducted in 2011 (SECC 2011). Here's a glimpse into the eligibility categories: Rural Areas: Families covered under the earlier Rashtriya Swasthya Bima Yojana (RSBY) scheme Individuals belonging to Scheduled Castes (SC) and Scheduled Tribes (ST) Poor families without a male member aged 16-59 years Beggar families Families with no healthy adult member between 16-59 years and a disabled member Landless families or those relying on casual labor Legally released bonded workers Manual scavenger families Primitive tribal communities People living in one-room makeshift houses Urban Areas: Rag pickers, washermen, chowkidars (security guards) Domestic workers, repair workers, tailors Sanitation workers, gardeners, cobblers, hawkers, street vendors Transport workers Shopkeepers, peons, assistants, waiters (working in small establishments) No Age or Family Size Restrictions: PMJAY imposes no limitations on the entry age, the number of family members covered, or the exit age for eligible beneficiaries. Who is Not Eligible for PMJAY? Individuals falling under the following categories are not eligible for PMJAY benefits: Owners of any type of vehicle or mechanized farming equipment Government employees Individuals with a Kisan card exceeding Rs. 50,000 limit Those earning a monthly income of Rs. 10,000 or more People working in non-agricultural government-managed enterprises Owners of refrigerators, landlines, or 5+ acres of agricultural land Residents of well-built houses What Medical Expenses Does PMJAY Cover? PMJAY offers a broad spectrum of medical expense coverage, including: Pre-hospitalization expenses for 3 days Post-hospitalization expenses for 15 days In-hospital consultations, examinations, and treatments ICU and non-ICU care Medical implantation services Diagnostic and laboratory tests Hospital stay and room rent Specified medical procedures COVID-19 treatments The scheme also provides pre-defined packages for various medical conditions. What is Not Covered Under PMJAY? While PMJAY offers extensive coverage, some exclusions exist: Cosmetic surgeries Drug rehabilitation costs Organ transplant surgeries Outpatient Department (OPD) expenses Fertility treatments Individual diagnostic tests for general health checkups Benefits of PMJAY PMJAY has been a game-changer for low-income families, granting them access to quality healthcare that was previously out of reach. The scheme's cashless treatment feature eliminates upfront payments at empanelled hospitals, significantly reducing financial stress during medical emergencies. Enrolling for PMJAY The government has proactively enrolled identified beneficiaries. These families have received health cards that enable cashless treatment at empanelled hospitals. To verify your eligibility, visit a Common Service Centre (CSC), call the helpline numbers 14555 or 1800
Understanding Your Provident Fund (PF) Withdrawal Options The Employees' Provident Fund (EPF) is a savings scheme in India designed to help employees accumulate funds for retirement. Both employers and employees contribute a portion of their salary to the scheme, which earns interest over time. While the primary purpose of the EPF is to provide financial security after retirement, there are situations where you can access your funds before reaching retirement age. This article explores the different scenarios under which you can make a PF withdrawal and their governing rules. 3 Types of PF Withdrawals Full Settlement: This occurs when you retire from service, reach the age of 58, or permanently migrate out of India. Partial Withdrawal: This allows you to access a portion of your PF corpus before retirement for specific reasons. Pension Withdrawal Benefit: After attaining the age of 50 and completing 10 years of service, you can opt to withdraw a lump sum amount and receive a reduced monthly pension upon retirement. Partial Withdrawal Rules Here's a breakdown of some common reasons for partial withdrawals and the applicable rules: Unemployment: If you're unemployed for more than a month, you can withdraw up to 75% of your employee contribution and interest. After two months of unemployment, you can access the remaining 25%. Education: Have higher education expenses for yourself or your children (after Class 10)? You can withdraw up to 50% of your employee contribution, but only after a minimum of 7 years of PF contributions. Marriage: Need funds for your wedding or the wedding of an immediate family member (sibling or child)? Similar to the education clause, you can withdraw up to 50% of your employee contribution after 7 years of PF contributions. Medical emergencies: Facing a medical crisis for yourself or a close relative? You can withdraw funds equivalent to six months' basic salary and dearness allowance, or your employee contribution with interest, whichever is less. Purchasing a house or plot: EPF allows partial withdrawals for buying a house or plot. The withdrawal limit depends on your contribution period. For instance, after 24 months of contribution, you can withdraw up to 24 months' basic salary and dearness allowance or the entire PF corpus (including employer contributions), whichever is lower. Home renovation: Thinking about renovating your home? You can withdraw up to 12 months' basic salary and dearness allowance or your employee contribution with interest (whichever is lower) for renovations or expansions. This benefit can be availed twice - once after 5 years of owning the property and again after 10 years. Important Points to Remember TDS on Withdrawal: Generally, a Tax Deducted at Source (TDS) applies to PF withdrawals made before five years of continuous service. The TDS rate is 10% if you have a PAN card and 30% if you don't. However, withdrawals after five years of service are exempt from TDS. UAN Activation: The Universal Account Number (UAN) is crucial for managing your PF account. Ensure your UAN is active to facilitate a smooth withdrawal process. Online Withdrawals: EPFO offers a convenient online portal for initiating PF withdrawal claims. This eliminates the need for physical paperwork and expedites the process. Lowering Tax Burden: Withdrawals after a minimum of five years of service are exempt from TDS, reducing your tax liability. In Conclusion The EPF withdrawal rules offer flexibility to address various financial needs that may arise during your employment years. Understanding these rules empowers you to make informed decisions about accessing your PF savings. Remember, for a stress-free withdrawal process, ensure your UAN is active and explore the online claim option provided by the EPFO.