Documents Required to Open Provident Fund Account

Documents Required to Open Provident Fund Account

The two types of Documents Required to Open Provident Fund Account are:

• Birth & pension certificate,
• Death certificate.

PENSION CERTIFICATE:

To open the provident fund account the member should accompany joint photograph along with the application. The return capital or commutation should be mentioned clearly to open the account. You need to submit another document which includes the details of the branch in the specified bank. The birth certificates of children should be submitted.

DEATH CERTIFICATE:

If the member is not executed by any nomination then the certificate needs to be submitted by the family members. The employer certificate should state the death details of the member who had died to open the provident fund account.

Documents Required to Open Provident Fund Account includes the subscriber’s account. The account is prepared with the name of each subscriber and members should follow the conditions and rates of subscriptions. The amount of subscriptions fixed can be,

• Reduced once during the course of year.
• It can be increased twice during the course of year.
• It can be increased or reduced based on the subscription.

BASIC WAGES:

You can earn basic wages after submitting the documents required to open provident fund account. These wages are given based on their duty, leave or during holidays which will be paid as cash. The cash value for food concession also given to the members.

BENEFITS:

• The provident fund members can withdraw the full amount during their retirement from service after age of 55 years.

• Full amount can also be withdrawn by the member from the provident fund under the following sequences: The member who has not attained the age of 55 years.

• The payment of provident fund can be made after complementing a continuous period of not less than two months. After that withdrawal is made by the member