EPF, EPS, EDLI & EPFO — Set 7
Labour Laws · EPF, EPS, EDLI और EPFO · Questions 61–70 of 200
What is the maturity period of EPF?
Correct Answer: C. At retirement (age 58) or cessation of employment
EPF matures at the time of an employee's retirement or cessation of employment. The standard retirement age considered for EPF purposes is 58 years. However, members can withdraw the full EPF corpus after leaving any employment and remaining unemployed for 2 months.
How long should an employee be unemployed to claim full EPF withdrawal?
Correct Answer: B. 2 months
An EPF member can withdraw 75% of the EPF balance after 1 month of unemployment and the full balance after 2 months of unemployment. The 2015 amendment allowed 75% advance after 1 month, with the remaining 25% claimable after 2 months. This provides financial support during periods of job transition.
The EPS scheme covers employees whose wages are up to:
Correct Answer: C. Rs 15,000
EPS contributions are calculated on a wage ceiling of Rs 15,000 per month. Even if an employee earns more than Rs 15,000, the EPS contribution (8.33%) is calculated on Rs 15,000 only, unless the employee and employer jointly opt for higher pension on actual wages. The Rs 15,000 ceiling was set in 2014.
Which court upheld the right of employees to contribute to EPS on actual salary above Rs 15,000?
Correct Answer: C. Supreme Court of India
The Supreme Court of India, in its landmark judgment of November 4, 2022, upheld the right of EPF members to opt for higher EPS contribution on actual salaries exceeding the Rs 15,000 ceiling. This was based on an earlier amendment to EPS in 2014 that restricted such contributions. The judgment allowed eligible members to apply for the higher pension option through a dedicated EPFO portal.
EPFO's 'Bhavishya Nidhi' portal is used for:
Correct Answer: B. Employers to register and file ECR (Electronic Challan cum Return)
Employers submit monthly PF contributions through the ECR (Electronic Challan cum Return) on the EPFO employer portal. The Bhavishya Nidhi portal / unified employer portal allows employers to register establishments, add new members, and file monthly ECR. Digital ECR filing has streamlined employer compliance and improved transparency.
Nomination in EPF can be filed using which form?
Correct Answer: A. Form 2
Form 2 is used to file or revise nomination details for both EPF and EPS accounts. Nomination is crucial to ensure the family/nominee receives the EPF corpus and pension benefits in case of the member's death. EPFO also allows e-nomination submission through the UAN member portal.
What is the EPFO's grievance redressal portal called?
Correct Answer: C. EPFO Grievance Management System (EPFiGMS)
EPFO has a dedicated Grievance Management System called EPFiGMS (EPFO's internet-based Grievance Management System). Members and employers can register grievances related to PF claims, transfers, KYC, and other issues. Grievances can also be lodged through the CPGRAMS (Centralised Public Grievance Redress and Monitoring System).
An employee changes jobs 5 times. How many UANs will they have?
Correct Answer: C. 1 UAN throughout career
UAN is a one-time number allotted to an EPF member throughout their career, regardless of the number of job changes. New Member IDs are generated by each new employer, but all are linked to the same UAN. This ensures portability and simplifies PF transfer and withdrawal processes.
Under which scheme is provident fund available for government employees?
Correct Answer: B. GPF (General Provident Fund)
Government employees (central government) are covered under the General Provident Fund (GPF), which is separate from EPF. New government employees recruited after January 1, 2004 are covered under the National Pension System (NPS) instead of GPF. EPF covers employees of private sector and certain public sector establishments.
What is the significance of the EPS 1995 amendment introduced in 2014?
Correct Answer: B. It raised the wage ceiling from Rs 6,500 to Rs 15,000 but capped higher pension option
The 2014 amendment to EPS raised the wage ceiling from Rs 6,500 to Rs 15,000 per month for pension calculation. However, it removed the option for existing members to contribute on wages above Rs 15,000 (the higher pension option). This amendment was later challenged and the Supreme Court in 2022 upheld the right of pre-2014 members to opt for higher pension.