I'd say it's a PG rated version of the R-rated "Seinfeld." Urkel is the PG-rated version of Kramer. Jaheel White even said it himself. It's also cheesier. I don't like the show myself, but it's stupid in a funny way (not the other way around). I just watch the show to see how the writers made a fool of themselves. However, "Family Matters" also seems like the kinda comedy you'd find in Ghana and South Africa, and in that, it's cleverly done. I've seen shows from those countries, "Family matters" is pretty similar.
I've seen many episodes of both shows, and I see no real connection between the two. I'm sure there are some loose correlations, but that's true of most sitcoms. Also, Seinfeld really isn't that funny to me. I usually watch it with other people who really enjoy it, but I've noticed most of the things they laugh at don't seem very funny to me. Not true with Family Matters - it's not a great show, but easily funnier and more entertaining than Seinfeld. In fact, I think Seinfeld is probably the most over rated show ever.