 |
| BENEFITS >>
Statutory Benefits |
|
|
|
|
| |
|
Withdrawal of Fund Balance with
Interest and Dividend
|
|
| |
| Although
Employees' Provident Fund [EPF] which requires
that a compulsory age be completed to claim
the fund balance, members of ETF do not have
to wait till they complete a specified age to
withdraw their fund balance. |
| However, the following
points must be noted: |
|
|
Cessation of employment is compulsory
if a withdrawal claim is to be made.
|
|
|
Reason for cessation could be
retirement, resignation, dismissal,
vacation of post, etc.
|
|
|
A member is not entitled to make a second / subsequent claim until lapse of 5 years from the date of previous withdrawal of fund balance. Exceptions to this rule are:
|
|
|
|
|
Reaching the age of 60 years
|
|
|
Migrating for permanent
residence
|
|
|
Joining state
service which entitles the
member to a pension
|
|
|
Termination of
employment due to permanent
disability
|
|
|
Death of a member |
|
|
|
|
| General
Instructions for making a withdrawal Claim
|
|
| |
| Those eligible
to make a withdrawal claim should pay
attention to the under-mentioned points: |
|
|
Processing of
claims has been computerized
significantly. It is therefore
necessary that the claim application
form should be legibly and correctly
filled to avoid data errors. Name,
address, bank account details, etc.
should be in BLOCK CAPITAL LETTERS.
|
|
|
A separate
application form is required for each
Employer, if the member had worked for
more than one Employer.
|
|
|
The member must
have a bank account in his/her name or
jointly. A photocopy of the bank
passbook or statement showing such
details as the bank name, branch,
account number, account-holder's
address and national identity card
[NIC] number, etc. should be attached
to the claim application.
|
|
|
A copy of NIC
certified by the Employer should be
submitted.
|
|
|
In case of in the
member’s name given in the claim
application is different from that
appearing in Returns, Annual Member
Statement, in the NIC or the Bank
Account, a letter from the Employer
certifying that those names refer to
one and the same person should be
submitted.
|
|
|
In cases where the
institution / company where the member
was employed is not in operation and
whereabouts of proprietor, partners or
directors are not known, a form VI(D)
titled Letter of Indemnity [specimen
is given in Appendix ] should be
completed by the member and certified
by Grama Niladhari and Divisional
Secretary. This Letter of Indemnity
should be submitted along with the
claim application as per instructions
given therein, in addition to Form
VI(C).
|
|
| Members cannot, while
being employed, make a claim for withdrawal of
fund balance made up of contributions from the
current employer, even if they have completed
five years of service. |
|
|
| |
|
Methods of Settling Claims |
|
| |
|
|
Normal system |
| |
Claims are paid within 21 working days subject to availability of returns and submission of required documents which mention above. |
|
|
Special
system |
|
|
Claims are paid
within 10 working days subject to
producing documentary proof in support
of the urgency, for instance migration,
sickness/surgery, redeeming of pawned
articles, family expenses such as
weddings, educational expenses etc.
|
|
|
Express
claims system |
|
|
Claims are paid within two working days. Before accepting claims, the Board will ensure that contributions and returns have been received by the Board from the respective employees. An official service fee is charged for each claim, depending on the value of the claim.
|
|
|
|
Value
of the
claim
|
Fee
|
| Up to Rs.
100,000/- |
Rs. 1,000/-
|
| Rs. 100,001/-
to Rs. 1,000,000/- |
Rs. 2,000/-
|
|
Over Rs. 1,000,000/- |
Rs. 3,000/- |
|
|
|
The number of claims
accepted on this basis per day is
limited to 65. |
|
|
Withdrawal
claims are accepted and processed at the
following offices of the Board : |
|
|
Head Office. Labour
Secretariat, Narahenpita, Colombo 5.
|
|
|
Regional Offices at
Gampaha, Kandy, Matara, Kurunegala and
Badulla
|
|
|
Claim applications may also be handed over to
other Regional Offices of the Board. |
|
|
| |
| |
|
|
|
|
|
|
|
