1.1 This policy establishes the framework for the Organization's compliance with the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (the EPF Act), and the schemes framed thereunder, namely the Employees' Provident Fund Scheme, 1952, the Employees' Pension Scheme, 1995 (EPS), and the Employees' Deposit-Linked Insurance Scheme, 1976 (EDLI). The policy applies to all establishments of the Organization employing 20 or more persons, as mandated by Section 1(3) of the EPF Act, and covers the computation, deduction, remittance, and reporting of statutory provident fund contributions for all eligible employees. The Organization is committed to ensuring full and timely compliance with all provisions of the Act and the schemes to protect the retirement savings and social security entitlements of its employees.

1.2 The HR department shall be responsible for enrolling all eligible employees as members of the Employees' Provident Fund within the first month of joining and for issuing Universal Account Numbers (UAN) through the EPFO unified portal. The Payroll department shall be responsible for the accurate computation and deduction of employee contributions from monthly wages, the calculation and allocation of the employer's contribution across EPF, EPS, and EDLI, and the remittance of all contributions to the EPFO by the 15th of the month following the wage month, as mandated by the Scheme. Monthly electronic challans (ECR) shall be filed through the EPFO portal within the prescribed timelines. Annual returns, including Form 3A and Form 6A (or their electronic equivalents), shall be filed before the statutory due date. Delayed remittance shall attract damages and interest as prescribed under Sections 14B and 7Q of the EPF Act.

2.1 The employee's contribution to the Employees' Provident Fund shall be 12% of basic wages plus dearness allowance (and retaining allowance, if any), deducted from the employee's monthly wages at source. The employer shall make a matching contribution of 12% of the same wage base, allocated as follows: 3.67% to the employee's EPF account and 8.33% to the Employees' Pension Scheme (EPS), subject to the EPS pensionable salary ceiling of Rs. 15,000 per month. For employees whose basic wages plus dearness allowance exceed Rs. 15,000 per month, the employer's EPS contribution shall be capped at Rs. 1,250 per month (8.33% of Rs. 15,000), and the balance shall be diverted to the employee's EPF account. In addition, the employer shall contribute 0.50% of basic wages to the EDLI Scheme and pay administrative charges at the rates prescribed by the EPFO from time to time.

2.2 Employees drawing basic wages plus dearness allowance exceeding Rs. 15,000 per month who are already members of the EPF shall continue to contribute at 12% of their actual basic wages (not limited to Rs. 15,000) as per Para 26(6) of the EPF Scheme, unless they opt out of contributing on wages exceeding Rs. 15,000 with the employer's consent, as permitted under the proviso to Section 6(1) of the EPF Act. Additionally, any employee may elect to contribute at a rate exceeding the statutory 12% on a voluntary basis through the Voluntary Provident Fund (VPF) facility, up to a maximum of 100% of basic wages, by submitting a written request to the HR department before the start of the financial year or within 30 days of joining. The employer's contribution shall remain fixed at the statutory 12% regardless of the employee's voluntary additional contribution. VPF contributions shall earn interest at the same rate as declared by the EPFO for EPF deposits.

3.1 Members may apply for non-refundable advances (partial withdrawals) from their EPF accumulations for specified purposes and subject to the conditions prescribed under Para 68 of the EPF Scheme, 1952. Permissible purposes include: medical treatment of self or family (up to 6 months' basic wages, no minimum service required); purchase or construction of a house or flat (up to 36 months' basic wages, minimum 5 years of service); repayment of home loan (up to 36 months' basic wages, minimum 10 years of service); marriage or education of self, children, or siblings (up to 50% of employee's share, minimum 7 years of service); and within one year before retirement (up to 90% of total accumulation). Applications shall be submitted online through the EPFO unified portal or through the HR department. The Organization shall attest and forward advance applications to the EPFO within 5 working days of receipt.

3.2 Final settlement of the EPF account, including the employee's share, the employer's EPF share, and accumulated interest, shall become payable upon the employee's superannuation, retirement at age 58, permanent emigration, or termination of service. Employees who leave employment and are not re-employed for a continuous period of 60 days may apply for full withdrawal of their EPF accumulations through the EPFO unified portal using their UAN and Aadhaar-linked authentication. The Organization shall process the employer's portion of the settlement claim (Form 19 attestation or online approval) within 5 working days of receipt. EPF accumulations withdrawn after 5 years of continuous service are exempt from income tax under Section 10(12) of the Income Tax Act, 1961. Withdrawals before 5 years of service are taxable, and the Organization shall deduct TDS at the applicable rate if the withdrawal exceeds Rs. 50,000, as per Section 192A.

4.1 Employees joining the Organization who are existing EPF members with accumulations in a previous employer's establishment shall initiate the transfer of their EPF balance to the Organization's establishment code using Form 13 (Transfer Claim Form), submitted online through the EPFO unified portal. The HR department shall verify the employee's UAN, ensure Aadhaar, PAN, and bank account details are linked and verified on the portal, and approve the transfer request within 5 working days of submission. The employee's continuous service for the purpose of withdrawal eligibility and EPS pension computation shall include the period of service with the previous employer, as reflected in the transferred accumulations. Where the previous employer has not enabled online transfer, the HR department shall coordinate with the Regional PF Commissioner to facilitate the transfer through alternative channels. Employees are strongly encouraged to initiate EPF transfers within 30 days of joining to maintain continuity and avoid complications in future withdrawal or pension claims.

5.1 The Organization shall maintain full compliance with all provisions of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, and the schemes framed thereunder. Monthly Electronic Challan cum Return (ECR) shall be filed and contributions remitted by the 15th of each month. Annual returns shall be filed before the statutory due date. The Organization shall maintain registers and records as prescribed under Para 36 of the EPF Scheme, including a register of employees qualifying for membership, a contribution record for each member, and a register of advances. Records shall be retained for the period prescribed under the Act (minimum 6 years from the date of last entry). Non-compliance with contribution timelines shall attract interest under Section 7Q (at the rate declared by the Central Government, currently 12% per annum) and damages under Section 14B (ranging from 5% to 100% of the arrears). Persistent or wilful non-compliance may result in prosecution under Sections 14 and 14A of the Act. This policy shall be reviewed annually to reflect changes in contribution rates, wage ceilings, or statutory amendments.