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This is an employee’s provident fund financial institution which has the largest number of members. It provides for a large range of services to its subscribers. You need to register first before you become a member. Before joining this fund, you need to show slips of your current salary and any other required personal details. The requirements are listed in epfindia.com. For the existing members who have enrolled, there are a number of things one may be required to do in the event of a change of status. This may occur when for instance a member adopts a child, they when there is an addition or deletion of a family member. You will be required to surrender this information to the relevant office through their employer.

There are a number of benefits and advantages that accrue once you join this institution. They come in form of pensions, withdrawals, advances or insurance upon the demise of the member. There is a standard rate for payment but this may be altered statutorily. These funds allow the state to make effective provisions as regards the right to work, right to education and to public assistance in cases of unemployment, sickness, old age and disabled persons. It assists those who have befallen misfortune or unfortunate happenings to get quick financial assistance. There are so many benefits associated with enrolling with this scheme. The subscriber gets the whole lump sum amount at upon the expiry of the term. This could be very useful as it boosts an individual financially. Most employers make it a mandatory provision in the employment contracts. For more information on this click on www.epfindia.com.

These funds are hugely a form of investment. The organization takes your remits and uses it to invest in profitable business so as to gain profits. They help an individual accumulate money within specified periods. It is a mandatory provision that all employees are required to be members. Whether permanent, casual or any form of employment where you are entitled to benefits. They give the members an assurance of a better tomorrow.

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