As an employee in India, you must have heard about the Employee Provident Fund (EPF) Account. This is a government-mandated retirement savings scheme meant to benefit employees. It helps them save for their retirement.
This blog post will guide you through making EPF payments online using the SBI EPF account. Let’s get started!
Table of contents
How Can You Make an SBI EPF Payment Online?
You can make your payment by following the below-given steps.
- Visit the State Bank of India EPF portal, and log in using your SBI EPF account credentials.
- Once you log in, click on the ‘EPF Payment’ option.
- Fill in all the required details, such as your EPF account number, establishment code, and extension code.
- Once you enter the details, the portal will automatically verify them and show you the due amount.
- Select your payment modes, such as NEFT, RTGS, or internet banking.
- As you select your payment mode, you will be redirected to the payment gateway, where you can make your payment.
- After making your payment, you will receive a confirmation message and an electronic receipt.
EPF Payment Online
You can also make EPF payments online via UPI (Unified Payment Interface). Following are the steps to do so:
- As the first step, register your UPI ID with your SBI EPF account.
- After registering, log in to the State Bank of India EPF portal and click the ‘EPF Payment’ option.
- Select UPI as your mode of payment and enter your UPI ID.
- You will be redirected to your UPI app. Here, you will need to enter your UPI PIN to complete the payment.
Which Banks are Approved for EPF?
Banks like Axis Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank are approved for the EPF. If you have an account with any of these banks, you can easily manage your EPF account online through their portals.
Wrapping Up
Needless to say that the State Bank of India EPF account is an efficient way for the employees to manage their respective EPF accounts. With the option of making online EPF payments, employees can now contribute to their retirement savings scheme without having to visit a bank. They also don’t need to fill out any paperwork. All the steps mentioned above will help you make your EPF payments hassle-free with just a few clicks of a button.
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Frequently Asked Questions (FAQ’s)
What is the SBI EPF Account?
The State Bank of India offers the SBI EPF account. Its objective is to manage its EPF contributions online.
Can I make State Bank of India EPF payments online through the SBI EPF account?
Yes, you can make the EPF payments using the SBI EPF account. As a user, you can do this by using various payment modes like NEFT, RTGS, and internet banking.
Which banks are approved for EPF?
Other banks apart from SBI that approve the EPF include Axis Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank.
Is it mandatory to have an EPF account?
Yes, for employees in India who are earning less than 15,000 monthly income, they must have an EPF account. However, people making more than INR 15,000 can opt out of the scheme.
