In a move to bring about transparency, the Employees’ Provident Fund Organization (EPFO) has decided to provide a calculation worksheet to each subscriber at the time of Provident Fund withdrawal. The Provident Fund calculation sheet will help employees understand the specifics of the lump-sum Provident Fund withdrawal received by them and thereby reduce confusion.
The EPFO has further instructed all regional offices to send the calculation worksheet to the registered mobile numbers of members or alternatively on the e-mail id provided on their Claim Form. This move has been made applicable to claims filed through online as well as the offline mode. Earlier, the EPFO had issued a circular, directing its Regional Offices to provide pension calculation worksheets to eligible pensioners with immeidate effect. Information in respect of the quantum of monthly pension is aimed at reducing the grievances of pensioners and promoting transparency in settlement of pension claims.