EPFO is a popular scheme of savings. It is known as the Employees provident fund or EPF. To get a jobs in EPFO one has to crack the exam conducted by the organization. The base of EPFO works under accountancy. The best commerce tutors help the student to look forward to a career in EPFO. It is a jobs in epfo with different benefits and processes. Similarly, let us understand the importance of the job in the blog by the tuition teacher for commerce.
Eligibility to become a member and get jobs in EPFO.
The eligibility to get a jobs in EPFO which is available in both-
Public and private sectors.
It simply means that every employee can become a member of the employee’s provident fund. There are organizations with 20 individuals that help with extra benefits. All the active members are considered to avail of the benefits, pensions, and insurance from the employees’ provident fund. Hence, The best commerce tutors share the benefit of the employee provident fund scheme with the student.
It has to extend in the array of benefits. It inculcates security and financial stability. The list of benefits to employee provident fund employees is claimed through different schemes. The scheme is discussed in commerce classes near me. The students wait for the special class and book in advance. Not every teacher briefs the idea on this topic. Therefore, the scheme is as follows-
Corpus for retirement
Mostly 8.33% is directed to the contributor of the employee pension scheme. In short, the total amount deposited to the provident fund of employees helps to build a healthy retirement corpus. These are extended with interdependence and financial security after retirement.
Section 80C according to the Indian income tax act briefly states that the individual is eligible for tax exemption. If there is a PF account then those awnings which are generated through the EPF scheme can be exempted. The exemption limit can go up to rupees 1.5 lakh.
Basically, there is no uncertainty in the emergency Corpus. Be financially prepare for the situation provides a deal with the exigencies. Therefore, an employment provident fund requires an individual emergency with unwarranted deals and exigencies.
The provident fund offers the prefix interest. It is an offer in the deposit with employment provident fund that rewards a maturity with and acceleration to capital appreciation.
Easy Premature Withdrawal
The easy premature withdrawal avail benefits of partial withdrawals. It is an individual fund that helps to meet specific requirements For instance, constructing a house, bearing wedding expenses, higher education, and medical treatment.
The five beneficial themes play an important role to lead a proper life. Tuition near me for commerce makes the student understand the pattern of the exam by best commerce tutors
EPFO conducts exams for jobs in EPFO in two stages.
- Part I is exam conducts with .
- Part II is an interview.
The written exam covers 100 marks with 75% weight age and 2 hours exam. The interview comprises one hour with 100 marks and 25% weight age. However, the subject which covers the exam are-
- General English.
- Current affairs and development issues.
- Individual ideas Indian polity and economy.
- General principles of accounting.
- Industrial relations and labor laws.
- General science and knowledge of computer applications.
- General mental ability and quantitative aptitude.
- Social security’s of India.
- Upsc conducts exam for EPFO. The organization releases the number of vacancies every year with an updated 7th pay CPC. Similarly, Tuition for class 11 commerce near me enables the student to focus on the aim of EPFO. The present pay scale for EPFO officers is near about rupees 55,200. The grade pay for entry-level is 4800. However, there is different allowances like-
- Provident fund
- Medical facility
- Loan facility
- Gratuity convenience
- Mobile and facility insurance.
Know about the increment and promotion in EPFO
In the first stage, the candidate enters as an enforcement account officer, assistant Provident Fund Officer, regional Provident Fund Officer II, regional Provident Fund Officer I, additional Central Provident Fund Officer II. The enforcement officer initially accounts for 2-period probation briefed by best commerce tutors.
The rate of interest offered by the employee provident fund scheme is not fixed. Presently, the rate is 8.55%. These and interest are paid on the operative accounts. These are set up with employment provident funds that do not accurately reflect the interest. calculation of interest is on the basis of each month salary. This method helps to calculate the specific interest for each month. So that, employment provident fund organizations place a dual role to oversee the implementation. The officers in the cadre of employment provident fund organizations assess the financial liability of different organizations from end to end. Therefore , The administrator of every additional fund that comes across various zones.
You must know under what circumstances the employee provident fund can be withdrawn?
The commerce coaching near me for class 11 explains that the people who are in a mood to withdraw the employee’s provident fund can follow-
- After retirement, if the period of unemployment extends more than 2 months.
- While changing the job from one profession to the other.
The circumstances through which the individual has to go are-
- Higher education
- Repayment of loan
- Loan for the housing property
- Constructing and purchasing land
Criteria to submit an online form for employment provident fund is described by tuition for class 12 commerce near me. The different manpower at present is 20000 engaged in employees provident fund organization. There is 850 commissioner cadre who are recruited directly. The subordinate officers are also recruited with promotion and social security assistant.
What is the job profile of EPFO
The job profile of EPFO is of great responsibility. These students are selected on the basis of the written exam and interview. It plays several roles in shaping the future of India. So that, Commerce tuition near me explain the profile in the bullet points below-
- Maintaining the bank statement, MIS return, cash book, and verification.
- Educating the employers about the prescribed form.
- Serving the warrant and summons to the defaulting employer.
- General administrative accounts recovery and enforcement cash.
- Making sure the grievances of employees are addressed.
- Serving the requirement coverage of potential categories and establishment.
- Serving warrants and summons for the defaulter employer.
There are different promotions and growth opportunities in EPFO. The career growth of EPFO
If you have thought of clearing the EPFO exam then you must hire from the best commerce tuition provider. Learn from a commerce tutor near me and see yourself in the department. It is one of the most reputed primary jobs in EPFO. Other subjects are important just to clear the exam. But commerce with accountancy plays a major role in public provident funds. Hence, you should learn from the best commerce tuition near me and excel yourself. However, if you want to make your dream come true then start now. Study with focus and pass out class 11 and 12 with the best grip in accountancy.