Is joining of accounts necessary, as in the case of EPF, if there are more than one Employers?
Unlike EPF, member's accounts are not amalgamated in the ETF. Members can have several accounts in the ETF and could be claimed submitting separate withdrawal forms for each employment.
(2)
Can a member claim the balance lying to his/her credit in once every five years without leaving employment?
No. It is only upon cessation of employment that a withdrawal claim for refund of contributions can be made. Changing from a company to another company in the same group is not considered a cessation of employment.
(3)
What is the "Five Year Rule?"
Once a withdrawal is obtained, a member has to wait for five years from the date of cessation of employment relating to the last refund claim to make another withdrawal even if the employment changed.
(4)
Can a member obtain a loan from the Fund, say a certain percentage of the total balance available in the member account for any personal reason?
No facility is available for such loans. However, under 'Viyana' Housing Loan Scheme, members can obtain housing loans at lower rates of interest.
(5)
How can a member obtain a housing loan under the 'Viyana' Housing Loan Scheme?
Loans are granted by NDB Bank subject to terms and conditions agreed upon with the ETF Board. Basic requirements for this benefit is having a minimum of five years' continuous membership with the ETF and having the required balance in the member's account. More details can be obtained from NDB Bank.
(6)
How would a member's family benefit from the welfare benefits available from the Fund?
Only the member is eligible for ETF benefits. The only exception is Year Five Scholarship Benefit Scheme where members' children get the benefit.
(7)
What is the age limit for benefit schemes?
For all benefit schemes, the maximum age limit is 70 years.
(8)
Are there any benefits for children of ETF members?
Yes. Members' children who pass Year Five Scholarship Examination conducted by the Department of Examinations with higher marks qualify for financial awards of Rs. 15,000/-. The number of beneficiaries per year is 3000.
