How to Subscribe for EPF Account at ICICI Bank
Employee Provident Fund Organization (EPFO)
The Employee Provident Fund (EPF) is a pension fund for the people engaged in the organized sector in India. In EPF, the employer contributes on behalf of the employee with an objective of retirement
planning of the employee.
ICICI Bank has tied up with the Employee Provident Fund Organization, where the individual pensioners could receive their monthly pensions with their ICICI Bank accounts.
Features of Employee Provident Fund (EPF)
- Monthly benefits for superannuation/retirement, disability, survivor, widow(er), children.
- A member permanently and totally disabled during the employment shall be entitled to a minimum pension
- Amount of pension based on average salary during the preceding 12 months from the date of exit and total years of employment
- If the subscriber dies, monthly pension continues for dependents
- Widower's pension:- Monthly widow pension is payable up to the date of death of the widow or remarriage whichever is earlier
- Children's pension:- For all surviving children, monthly children pension is payable until the child attains the age of 25 years
Eligibility
Anyone working in the organized sector
Age group - 18 to 60 years of age
How to Subscribe for EPFO - ICICI Bank EPF Account
- Submit the New Savings Account Form along with KYC documents to open a new account
- Furnish Identity proof and Address proof
- Provide 2 photographs (passport size)
- Provide ICICI Bank account details to the EPFO
- Submit the following documents to the branch:
- Any letter/ document (preferably from the company) which states that the said customer is approaching retirement or has retired from the company
Nomination
The member has to give the names of Spouse and all children in the prescribed Form.
Claim Forms
For Monthly Pension: Form 10D
For Withdrawal Benefit and Scheme Certificate: Form 10C
Related
EPF Online payment