- 1 What is EPF and ETF in Sri Lanka?
- 2 How can I check my EPF balance in Sri Lanka?
- 3 When can EPF be withdrawn in Sri Lanka?
- 4 Who introduced EPF in Sri Lanka?
- 5 Who are not eligible for EPF?
- 6 How is salary calculated in Sri Lanka?
- 7 How can I check my provident fund balance?
- 8 How can I pay EPF in Sri Lanka?
- 9 How can I check my provident fund balance online?
- 10 Is EPF taxable in Sri Lanka?
- 11 What is the retirement age for EPF?
- 12 Who are eligible for EPF?
- 13 How can I get my EPF money?
- 14 How can I pay my EPF Bill?
What is EPF and ETF in Sri Lanka?
As young adults entering the workforce, terms like Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) may often fly over our heads. According to the EPF Act, you, as an employee, have to contribute 8% of your salary each month to this fund, while your employer adds a further 12%.
How can I check my EPF balance in Sri Lanka?
logging to the service at the Sri Lanka country portal www.srilanka.lk or to the View Member Balance at the ETF website using individual log-in account.
When can EPF be withdrawn in Sri Lanka?
The EPF members are eligible to claim their retirement benefits (contributions and accumulated interest) upon reaching the retirement age of 50 years for females and 55 years for males.
Who introduced EPF in Sri Lanka?
The Employees’ Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP.
Who are not eligible for EPF?
As per the rules, in EPF, employee whose ‘pay’ is more than Rs 15,000 a month at the time of joining, is not eligible and is called non-eligible employee. Employees drawing less than Rs 15,000 a month have to mandatorily become members of the EPF. 5
How is salary calculated in Sri Lanka?
To calculate the monthly salary, you need to firstly add in all types of payments an employee is due for a month. After calculating the total amount that is due, you can then subtract any deductions such as PAYE, EPF, ETF, salary advances, and no-pay leaves.
How can I check my provident fund balance?
PF Balance Check Through a Missed Call
- Give a missed call to 011-22901406 from your registered mobile number.
- After placing a missed call, you will receive an SMS providing you with your PF details.
How can I pay EPF in Sri Lanka?
Remit contributions to the EPF through one of the following mode of payment. EPF remittances through cash or cheque are accepted at all branches of the People’s Bank. Dully fill the EPF payment cheque or cash slip which could be obtained at the People’s Bank.
How can I check my provident fund balance online?
To check your EPF account balance on the EPFO portal, you must have an active Universal Account Number (UAN). To check your balance, you will have to visit https://passbook.epfindia.gov.in/MemberPassBook/Login.jsp and enter your UAN and password. The website allows you to view and download your EPF account statement.
Is EPF taxable in Sri Lanka?
Concessionary tax rates Accumulated employers’ contribution to an approved or regulated provident fund, when withdrawn, is exempt from tax.
What is the retirement age for EPF?
Ans: A member is eligible for pension on superannuation at the age of 58 years. If a member leaves employment between 50 and 57 years he can avail the early (reduced) pension.
Who are eligible for EPF?
EPF eligibility criteria If you are a salaried employee with a (basic + dearness allowance) less than Rs. 15,000 per month, it is mandatory for you to be opened an EPF account by your employer.
How can I get my EPF money?
EPF withdrawal can be done through the UAN member portal. The member has to first activate his UAN and then log in to the portal for online withdrawal. The portal can also be used to transfer funds from his old PF account to a new account. Other online services such as eKYC, contact details update, etc.
How can I pay my EPF Bill?
- Login to the Unified web portal of EPFO using your ECR portal credentials.
- Complete the details as required in the portal for generation of TRRN and generation of challan.
- After finalizing the challan, select “Pay” option and then the “online” option.