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Employee Provident Fund Organization (EPFO)
The Employee Provident Fund (EPF) is a pension fund for the workforce engaged in the organized sector in India. In this case, the corporate contributes on behalf of the employee with an aim of retirement planning of the employee.
ICICI Bank has entered into a deal with the Employee Provident Fund Organization, whereby the individual pensioners could receive their monthly pensions through their ICICI Bank accounts.
- Monthly benefits for superannuation/ retirement, disability, survivor, widow(er), children.
- A member who is 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
- In case of the death of subscriber monthly pension would continue to dependents
- Widower's pension:- Monthly widow pension shall be payable up to the date of death of the widow or remarriage whichever is earlier
- Children's pension:- If there are any surviving children of the deceased member, Monthly children pension shall be payable until the child attains the age of 25 years
- New Savings Account Form along with KYC documents to open a new account
- Identity proof, Address proof, 1 photographs (passport size) and for
New Customer:
- Pensioner may approach to any branch to open pension account.
- Branches should follow the same documentation as general account opening process.
- I-Kit will be issued as per the customer’s profile.
- PPNZC status code should mention in the account opening Form.
- Post completion of sourcing activity in respect of Form filling and KYC verification.
- Branch needs to follow “Non-Tab” account opening process through Omni-flow.
- PPNZC code is not available in Omni-flow hence as per I-Kit status code will be selected.
- Ops user will update the PPNZC status code in the journey of account opening.
- In terms of documents eligibility, any letter/ document (preferably from his company) stating that the said customer is approaching retirement or has retired from the company.
- In case, family pension account Branches should adhere the above mentioned process for family members.
- In case, any minor family members, then Branches should adhere minor account opening process.
Existing customer:
- In case the pensioner is already holding an account with us and intends to receive pension through our Bank, he/she may provide bank account details to the Pension Authority on or before convert his/her existing account into pension account under “PPNZC” the status code.
- Whenever customer approach to the branch for converting his/her existing account into a pension account, branch needs to collect the status change request along with any letter/ document (preferably from the pension authority) stating that the said customer is approaching retirement or has retired from the company and raise the SR to change of status code.
EPFO FAQs
FAQs
Q- I have not received my pension from the last so many months, what should I do?
If you have not updated your Digital Life Certificate through Jeevan Pramaan App in the month of November, your Pension will on gets hold by EPFO .
If you have submitted, then kindly visit the ICICI branch and request them to check with the link branch on the reason of non-payment. Also status can check in Govt. URL https://mis.epfindia.gov.in/PensionPaymentEnquiry/pensionStatus.jsp
Step 1: Select your EPFO office from dropdown.
Step 2: 5-digit office ID will catch automatically.
Step 3: Input your 7-digit numeric Pension Payment Order Number (PPO No.)
Q- How to know my EPFO Pension Payment Order Number (PPO No.)?
Ans: You can check your EPFO Pension Payment Order Number (PPO No.) in Govt. URL https://mis.epfindia.gov.in/PensionPaymentEnquiry/pensionStatus.jsp
Step 1: Click on know your PPO No.
Step 2: Select any one given Option.
Step 2: Input your SB account no. and submit.
Q- when my pension will be regularized.
Ans. Once Life Certificate accepted by the Pension authority. Pension will be started in next cycle & arrears will be paid within 60 days from EPFO office through Pension Agency Bank.
Q- Where I can see status of Life Certificate accepted or rejected?
Ans: Pension status customer can check through below URL from the Govt. portal under Know your Pension status option.
https://mis.epfindia.gov.in/PensionPaymentEnquiry/pensionStatus.jsp
Q- Digital Life Certification submission for EPFO Pension:
The Jeevan Pramaan App is available in App Catalog in the TAB. Branches are requested to keep the biometric machines activated and input the details needs to provide for submission of Digital Life Certificate. More details kindly refer the Cir. No. 12519.
