|1||Will a member get any interest payments on accumulated provident fund balance?||Member can earn interest on the cumulative provident fund, but the percentage varies year to year and the same is declared by the Monetary Board with the concurrence of the Minister and the Minister in charge of the subject of Finance.|
|2||How long will it take a member to receive the employee balance statements?||EPF Department will send half yearly statements of accounts of members to employer in every 6 months’ time and employer need to distribute member statements among the employees.|
|3||How can a member re-nominate beneficiaries?||It is possible to cancel an existing nomination and re-nominate beneficiaries at any given time. Duly completed Form “J” should be sent to the Labour Office of the area where you live for re-nominating beneficiaries.|
|4||When can a member get benefits?||1. After retirement age.
2. Retire due to marriage (Females only).
3. When migrating to another country on a permanent VISA.
4. When member ceases to be employed by reason of a permanent and total incapacity for work and is certified by a registered medical practitioner to be unfit for work any longer for that reason.
5. When member ceases to be employed by reason of in a covered employment and takes up pensionable employment in the public service or in the Local Government.
|5||What is the retirement age?||Being a male, attains the age of fifty-five years, or, being a female, attains the age of fifty years, and such member ceases to be in such employment.|
|6||When can a member claim benefits if she leaves service on the ground of a marriage||When leaving service on grounds of marriage as stipulated below (For female Employees)
|7||Who is eligible for prior retirement benefits?||Members can apply for a housing loan,
To start the process, visit the nearest Labor office with a latest EPF balance sheet.
|8||what happened to the balance of Member’s Account if EPF housing loans are not paid on time?||Housing loan defaults (unpaid instalments) plus a surcharge interest will be deducted from the balance of Members Accounts.|
|9||Who is eligible to 30% pre-retirement benefit?||The active member who have contributed 10 years and having more than Rs.300,000 balance at EPF is eligible to apply for the housing and medical purpose.|
|10||What should a member do if the name is not correctly appeared in a statement?||You should check the databases of both EPF Department of the Central Bank and Department of Labour to get the name corrected. This can happen due to an erroneous name entering at any data entry point such as “B” Card, C-Form etc.
Summarized steps shall be;
|11||What documents need to submit for a Name or/and NIC amendment?||· A request letter from the Employer
· Certified Copy of NIC
· Certified Copy of “B” Card
|12||What should a member do, if he/she get to know that the employer has not correctly credited EPF contributions?||Member should immediately make a formal complain to the Department of Labour.|
|13||How can a member get a balance confirmation or Contribution History Report for the Visa purpose?|
|14||How can a member check member balance?||· By visiting EPF Department of Central Bank located at Lloyd’s Building, No 13, Sir Baron Jayatilleke Mawatha, Colombo 1. with your NIC and or “B” Card where a printed statement can be obtained free of charge.
|15||What is the mailing address of the EPF Department?||Superintendent, Employees’ Provident Fund Department, Lloyd’s Building, No 13,Sir Baron Jayatilleke Mawatha,Colombo 1.|
|16||Does EPF pay loan installments on behalf of the members?||No, it is the responsibility of the member to pay the loan installments as agreed with the Bank.|
|17||What are the documents to be submitted to Labour Department to request a refund?||The eligible applicant should duly fill and submit a Form “K” along with the “B” card to the nearest Labour Office. Please contact the nearest Labour Office for more information.|
|18||If the member is deceased, what is the procedure of knowing the balance?||Only Labour Office can provide a balance statement to a legal heir in case of a deceased member.|
|19||How long will it take a member to receive a refund after Commissioner of Labour sent payment order (Determination Letter) to the CBSL?||If the details of your claim application do not have inconsistencies with details of the EPF database, the refund amount will be credited to the bank or will be issued a cheque within two working days.|
|20||How will the refund payments be made?||The refund amount which does not exceed the Rs. 5,000,000/- will be credited to the bank account provided by the applicant through Sri Lankan Inter Bank Payment Systems (SLIPS).
The refund amount exceeds Rs.5,000,000/- will be issued a cheque and mailed to the address provided by the applicant in the refund claim form.
|21||What are the purposes to obtain EPF 30% pre-benefits?||EPF 30% pre-benefits will be paid for housing purposes or medical treatments only. You may refer Prior Retirement Benefits in the website for details.|
|22||How to aware on the updation of contributions earned through court cases?||Inquire from the relevant Labour Office and then from the EPF by Cheque Number, Period, Case No. and Employer No.|
|23||How to claim unpaid balances?||EPF pays, unpaid balances automatically on a monthly basis and if not received, submit duly filled part payment application|
|24||Is it mandatory to withdraw funds immediately attaining the retirement age?||No, can apply at your convenience|
|25||Are EPF refunds taxable?||No, EPF refunds are non-taxable.|
|26||What should a member do when there are blank cages in members Statements of Accounts?||Make sure whether particular contributions are paid on timely by employer and if yes, please inquire the reasons for non-updating members accounts from the EPF and ask employer to submit correct “C” Forms/text files accordingly.|
|27||Can a member make a new refund request to Labour Department after first claim?||Cannot request within 5 years of first claim|
|28||What need to do refund a part payment, if the previously given bank account is closed or inactive after first claim?||Amended determination letter from relevant Labour Office by mentioning new bank account along with part payment application need to be submitted to the EPF.|
|29||How can a member get a contribution history report to meet visa requirement?||By visiting EPF office at No. 13, Lloyds Building, Sir Baron Jayathileke Mawatha, Colombo 01 with the relevant “B” cards, Pasport & NIC
By sending a request email along with the scanned copies of NIC, “B” card &BOI page of Passport to email@example.com
|30||How can a member register for online EPF account enquiry facility?||Log in to Central Bank web-site (www.epf.lk) and download the application form (WR1 Form).
Fill the application form and send it via registered post with a copy of your NIC which is certified by employer.
Postal Address: -Superintendent, Employees’ Provident Fund , No 13, Lloyds Building, Sri Baron Jayathileke Mawatha, Colombo 1
|31||How can a member obtain a copy of refund statement (RS/RC)?||By sending a request letter with a copy of the NIC|
|32||How can a member apply for the balance payment?||Post or submit a part payment application to EPF Department, No 13, Lloyd’sBuilding, Sir Baron Jayathileke Mawatha, Colombo 01 or email/fax the payment application|
|33||How long will it take a member to receive the balance payment?||Within two weeks, after updating the contributions.
|34||How can a member get balance payment urgently, if it isn’t updated yet?||Member should contact Current Contribution Division or E- Collection Division of the EPF Department of Central Bank|
|35||How can a member obtain the refund when it was returned due to incorrect/closed bank account?||When you receive a letter from EPF, visit the respective Labour Department with correct details.
|36||How to get the refund payment if the refund cheque has not received or if the cheque has misplaced?||After expiring the validity period of the cheque, new cheque can be requested from Refund Payment Division of the EPF department.|