PF Registration

7,999.00

All Inclusive Fees

(EMI: Rs.750.57 for 12 months)*

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Description

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PF Registration

Overview

Employees Provident Fund [EPF] is a basically a scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the guidelines of Employees’ Provident Fund Organisation (EPFO) which is one of the World’s largest Social Security Organizations in terms of trade and the volume of financial transactions undertaken. Basically, EPF is usually like a benefit to an employee during the retirement which is provided by the organization. The Employees’ Provident Fund (EPF) is funds which is built through regular, monthly, contributions made by an employee and his/her employer to offer social security benefits to employees of a particular organization at the time of retirement, death.

EPF registration is mandatory for organizations which has total employee strength more than 20. Such employers can opt for online PF registration from Registration SEVA.

EPF scheme is very useful for all employees for saving anamount after their retirement. Under this scheme, an amount is subtracted from their monthly salary and is put into an account called EPF account. The amount credited in the EPF account is provided to the employees post their retirement.

Advantages

In recent years, Employees Provident Fund Organisation has been coming up with many advantages for EPF (Employee Provident Fund) subscribers. Few of the advantages of EPF are:

  • Pension Coverage

In addition to the contribution of the employee to EPF, the employer also adds an equal amount which is inclusive of Employee Pension Scheme (EPS). Therefore, EPF saves you a strong amount of pension.

  • Risk Coverage

In case of cases like illness, death or retirement, Provident Fund helps the dependents of the employee by covering the financial risks they face in such situations.

  • Emergency Fund

Emergencies are unlikely to happen at any point of time in life. Hence, EPF amount can be of great help during any kind of casualties, diseases, weddings and educational expenses. Employee can thus make claims online.

  • One Single Account/ EPF Account

The PF account can be transferred while changing jobs. Universal Account Number(UAN) linked to the Aadhar will start to facilitate the linking of the previous accounts. It can be carried forward to the new employer instead of being closed down. This uniformity ensures that the rate of return is compounded over the years.

  • Employee Deposit Linked Insurance Scheme

Any person who holds a PF account is also eligible for this insurance scheme that requires only 0.5 % of the salary deduction as the premium.

  • Helpful in Long Term Goals

The PF account can be very helpful for long-term goals like buying a property or setting up a fund for children.

Meaning of Employee for PF

  • Full-time employees
  • Part-Time Employees
  • Working at Home
  • Contract Employees / Full-time Consultants

Eligibility Criteria

To avail the EPF registration, the employer must fulfil the following criteria as listed below:

  • The factory musthave 20 or moreemployees;
  • For any other establishments with 20 or more employees, Central Government defines the classes of such establishments;
  • Every employee is eligible for PF right from the beginning of his employment. The employer is responsible for PF contribution and deduction.
  • Any establishment with less than 20 employees has received a notice for compulsory registration for not less than two months;
  • If the number of employees is less than 20, the establishment can also choose voluntary registration. But the deduction, in this case, would be 10%.
  • This scheme is not applicable in the region of Jammu and Kashmir.

Documents Required

We can divide the list of documents requirement as per the type of entity which may include:

  • Proprietorship Firms
  • Partnership Firms
  • LLP/Company
  • Society/Trust
  • Employee

    In case of Proprietorship Firms

    • Applicant Name
    • PAN card of the firm
    • ID Proof like Driving License/Passport/Voter ID Card
    • Address proof of the premises
    • Residential Address proof with telephone number

    In case of Partnership Firm

    • Certificate of Registration of Firm
    • Partnership Deed
    • ID Proof of partners like Driving License/Passport/Voter ID Card
    • Address proof and list of all partners

    In case of LLP/Company

    • Certificate of incorporation issued by the Ministry of Corporate Affairs
    • MOA and AOA
    • PAN card of the LLP/Company
    • List of members or directors
    • Cross cancelled cheque of establishment
    • Address proof which must be in the name of the establishment which can include:
    1. Rent agreement
    2. Water Bill
    3. Electricity Bill
    4. Telephone bill
    • Sample signature of directors and/or authorized signatories
    • Digital signature of the authorized applicant
    • Consent of the majority of employees, in case of voluntary registration by an establishment.

In case of Society/Trust

  • Certificate of Incorporation
  • MOA and other bye-laws
  • PAN Card of the Society/Trust
  • President and Members address proof

In case of Employees

  • Name of the employee
  • Fathers Name
  • Date of Joining
  • Date of Birth
  • Mobile Number
  • Residence Address
  • Name of Nominee
  • Grade and Salary
  • Designation
  • ID Proof like Aadhar Card/PAN Card
  • Bank Account Number with IFSC Code
  • Other Employee details
  • Signature

In some entities the following may also be required:

  • First sale bill
  • First purchase bill of raw material and machinery
  • GST Registration Certificate
  • Bankers details
  • Record of a monthly employee strength
  • Register of salary and wages

You just need to collect the mandatory documents and send a copy of each document to us. The rest will be handled by the efficient team at Registration SEVA. From filing the form to verification processes and legal formalities, we handle it all!

Registration Process

Registration of EPF may be compulsory or voluntary depending upon the circumstance. Following is the step-by-step procedure for EPF Registration by an Employer:

Step 1: First of all, the employer needs to register the organization for which he needs to visit the official website of EPFO and has to click on the option “Establishment Registration”.

Step 2: After clicking “Establishment Registration”, you will be directed to the next page where the manual can be downloaded. The new user must download and read the User Manual properly before he proceeds further.

Step 3: Now click on the button called “Sign Up”

Step 4: After clicking “Sign Up”, the portal will ask you to enter the details like Name, Email address, Mobile Number and other mandatory details as required. After this, click “Sign Up” which will create your account

Step 5:After all this, an option will come which says “Registration for EPFO-ESIC”

Step 6:The next page will give you an option called ‘Apply for New Registration’. Clicking on that will give two options called ‘Employees’ State Insurance Act, 1948’ and ‘Employees’ Provident Fund and Miscellaneous Provision Act, 1952’, which can be checked and then click on the ‘Submit’ button. Further, it will lead you to enter the details like Establishment Details, eContacts, Contact Persons, Identifiers, Employment Details, Particulars of workers, Branch/Division, Activities, and Attachments.

Step 7: After entering all the details correctly, click on the “Submit” button to submit the registration, post which it will ask to register Digital Signature Certificate (DSC) which is mandatory for a fresh application.

Now, you will receive an email from Shram Suvidha with a confirmation that the registration has been completed.

Why Choose us for PF Registration?

  • Best services at minimum price
  • Registration SEVA has a team of experienced and qualified professionals
  • No hidden charges.
  • 100% Client satisfaction
  • End to end assistance.
  • Absolute clarity and proper updates
  • Trusted by clients from all over India

FAQ

01. Who must register with PF Department?

Any company which has 20 or more employees is required to be registered with the PF Department.

02. What is Mandatory and Voluntary PF registration?

The provident fund is a social security scheme having the government guarantee to its members. The provisions of the PF Act apply to the establishment based on the number of employees. Registration with the Provident Fund Organisation is mandatory for establishments employing 20 or more employees. However, it can also be taken on a voluntary basis with the consent of its employees. A copy of the declaration by the majority of the employee of opting for voluntary registration is attached with the Form.

03. Is employee provident fund being taxable?

Provident fund contribution by the employer & employee is not a taxable income for Income Tax purpose.

04. What is the UAN?

The UAN number is the short form of Universal Account Number Identification Number allotted by the EPFO to its members, this acts as an account number for the employees. The establishment needs to allot UAN number to all existing employees immediately after registration of the establishments.

05. What is the rate of contribution for EPF?

Provident fund is a social security scheme, where both employers, as well as employee, contributes to the fund as a percentage of the basic wages.The contribution is as under

  1. By Employee: 12% of the Basic Wages [10% in case the number of employees is less than 20]
  2. By Employer: An employer has to pay its share of contribution in the following parts
  • Employee Provident Fund (EPF) = 3.67% (1.67% in case of less than 20 employees)
  • Employee Pension Scheme = 8.33%
  • Employee Deposit Linked Insurance (EDLI) = 0.5%
  • Admin Charges for EPF = 0.5%
  • Admin Charges for EDLI = Nil

06. What are the timelines relating to PF compliances?

PF Payments are due on 15th of Each month. PF return must be filed by all entities by the 25th of each month. One Final return is required to be filed on 25th April for the year ended on 31st March.

0.7Can I withdraw my EPF money If I switch my job?

It is illegal to withdraw money at the time of switching the jobs as it can be transferred once you join a new job. However, you can withdraw your EPF money if you have not joined any other job for a period of two months from quitting the earlier job.

0.8 Can an Employee Apply for PF Transfer On Employment Change?

Yes. An employee must apply for PF transfer to the present establishment by filling due forms.

0.9 Is There Any Age Restriction to Become the Member of Provident Fund?

No. There is no age restriction for Provident Fund membership.

10. For How Long Can a Member Retain PF in his Account?

Till the amount of Provident Fund is withdrawn, a member can retain membership. However, in the absence of any contributions for more than 3 years, interest stops getting credited to the account after the 3rd year.