PF Management System: About


EMPLOYEE PROVIDENT FUND MANAGEMENT SYSTEM
MG University, Kottayam-686 560, Kerala

About Provident Fund Portal

The PF automation system aims to provide benefits to the employees by providing them the privilege to take loans from their provident funds.

    The Employee Provident Fund, popularly known as PF is the retirement saving scheme available to all the salaried employees, is backed by the government on which fixed interest is paid. For every employee, it is mandatory to contribute towards EPF and EPS. An employee cannot withdraw a full EPF balance before attaining the age of retirement.

    In the case of a cessation of the employment, the maximum withdrawal cannot exceed the aggregate contribution of the employee and the interest accrued thereon. An employee can withdraw an employer's portion only after attaining the retirement age. Subscriber's account shall be prepared in the name of each subscriber and shall show the amount of his subscriptions with interest thereon as well as advances and withdrawals from the Fund.



The Employees can have the privilege to take loans from their provident funds. The loans can be either be refundable or non-refundablee

    Non-refundable loan is one that should be taken for a specific purpose for example in the case of marriage, construction, education purpose etc. There is no instalments for the non-refundable loans and should be available for anyone after completing one year service. The withdrawal can be sanctioned to the extent of monetary limit prescribed in the delegation of financial powers of respective departments subject to a maximum of 75% of the balance at credit. The interval between two non-refundable withdrawals will be three months. The eligibility criteria for taking the non-refundable loan is that he/she should satisfy either 46 yr age or having an experience of 10 years. In the case of new employees who joined the service, after allotting the PF number the balance amount in their PF is automatically be transferred to their current organization.

    Refundable loan is one which is otherwise known as temporary advance. The amount of re-payment should be fixed by the employee at the time of taking the loan. An advance shall be recovered from the subscriber in such number of equal monthly instalments as the sanctioning authority may direct but such number shall not be less than 12 months unless the subscriber so elects or not more than 36 months


Our Vission

The Employees can have the privilege to take loans from their provident funds. The loans can be either be refundable or non-refundable.

Non-refundable loan is one that should be taken for a specific purpose for example in the case of marriage, construction, education purpose etc. There is no instalments for the non-refundable loans and should be available for anyone after completing one year service. The withdrawal can be sanctioned to the extent of monetary limit prescribed in the delegation of financial powers of respective departments subject to a maximum of 75% of the balance at credit. The interval between two non-refundable withdrawals will be three months. The eligibility criteria for taking the non-refundable loan is that he/she should satisfy either 46 yr age or having an experience of 10 years. In the case of new employees who joined the service, after allotting the PF number the balance amount in their PF is automatically be transferred to their current organization.

Refundable loan is one which is otherwise known as temporary advance. The amount of re-payment should be fixed by the employee at the time of taking the loan. An advance shall be recovered from the subscriber in such number of equal monthly instalments as the sanctioning authority may direct but such number shall not be less than 12 months unless the subscriber so elects or not more than 36 months.

Employees who are on joining Foreign Service or on deputation to other state, were came under the category of leave without salary employees. And at the time of deputation there is no PF contributions. If an employee who is a subscriber to any other Government Provident Fund is permanently transferred to pensionable service under Government, the amount standing to his credit in such other fund on the date of transfer shall with the consent of the Government concerned, be transferred to his credit in the Fund.


Services

  • Employee can login and he/she can view the monthly subscription amount that he/she bears.
  • Can view the history of PF subscription in the previous month
  • System will automatically check the eligibility for availing the loan
  • Can view the balance amount in their PF
  • Can avail loan service from their respective PF amount
  • Can view the respective loan statement

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