Employee Trust Management Services includes employee trust funds administration and management. The trusts for which these services are applicable are Exempt PF Trusts, Gratuity fund trusts and Superannuation trusts. For unexempt PF Trusts we liaison and undertake all compliances with the Regional Provident Fund Commissioner. Liaison with LIC or insurance providers in case of Gratuity and Superannuation funds being managed by LIC or any other insurance provider.
Trust details, Trust Rules and relevant information including Trustee information and date-based interest rates and loan rates.
- Exhaustive loan module to encompass complete workflow from loan application through loan sanction and disbursement. The Loan rules stated in the PF Rules inline with the PF Act allowing scrutinising of PF loan applications. Only trustee authorization can override approved applications.
Trust Fund Administration & Management..
- Detailed settlement report which includes netting of outstanding loans and allows for multiple settlements to take care of arrears, changes
- Complete financial accounting of trust accounts provided at Year closing
- Automatic B/S and P & L generation
- Member statements
- Other facilities available to the employer and employee
- Transfer in and out Statements/Returns on a monthly basis
- Documents module (receipts, payments, JE)
- Multiple bank accounts per trust
- Trust interest at simple/compound rests
- Bank reconciliation with passbook
- Nominee tracking
- Missing / incomplete address and nominee reports
- Investment management
- Investment advisory services and quotes of best buys and sells. The quotes and recommendations are purely advice and it is not binding on the client to consider these quotes at the time of investment, the client is free to choose any investment.
- Cash flow statement giving details of inflows from contributions, redemptions and interest expected from which investment and when, and outflows due to settlements, loans, investments, transfers.
- Investment pattern summary for analysis and action
Web interface for Employees
- Employee login
- Pay-slip queries
- Downloading loan application forms, trust nomination forms, etc.
- Submitting loan applications
- Query of intent
- Query of applicable wage structure
- Investment declaration