EPFO: What is Annexure K and what it is used for?
EPFO: What is Annexure K and what it is used for?
EPFO Annexure K: Annexure K is a document which mentions the details about the Employees’ Provident Fund (EPF) accountholder, his accumulations with interest, his service history, date of joining and date of exit and employment details including past and present MID (Member ID). This document is required by field office or a trust to effect transfers in an account.
Details that must be shared in Annexure K while transferring fund from previous account to current account:
The month-wise amount of the employee share of contribution of the EPFO member
Tax deducted at Source or TDS if any deducted
Details of month-wise contribution of previous years and all subsequent previous years must be shared through Annexure K
Opening and Closing balance along with withdrawals.
It will have to be shared separately for taxable and non-taxable part.
The Employees’ Provident Fund Organisation which runs the scheme has also tweeted on this from its official Twitter Handle @SocialEPFO.
See Tweet Here:
Also Read: TDS on EPF withdrawal – When and how it is applicable? 6 lesser know factsEPFO is one of the World's largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken. At present it maintains 24.77 crore accounts (Annual Report 2019-20) pertaining to its members.
The Central Board of Trustees which administers the retirement fund body operates these three schemes - EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.