Provident Fund is helps employees to save a some portion of their salary for future benefits. It is a social security scheme. It is retirement benefit scheme, employees have a choice to register in Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. If any organization have more than 20 employees then EPF registration is mandatory to such organization.
There are 3 steps:
First is form filling and fees consultation
Second is for data validation connect with a dedicated affiliate
Last is receipt of PF number
Logon to the Provident Fund Registration portal
Then select the option “establishment registration”.
Then select ‘download manual’
Click on the ‘sign in’ button for login.
Enter your personal details on portal.
Apply for fresh registration.
Then Click on ‘submit button’.
Input your digital signature.
To be eligible for PF Registration, an organization has to fulfill the following criteria:
Total employees strength s more than 20 in a factory.
More than 20 employees employed in an organization. A government defines the class of such firms.
Even if establishment has less than 20 employee. it has been notified for compulsory registration for not less than 2 months.
Such Companies has less than 20 employees. It must has been notified to EPF organization within 2 months or less than 2 months.
Do Application of PF to the central PF commissioner. For that employer and employee of establishment are mutually agree for application. And such agreement has to be sent to the official gazette
PF contribution and deduction is responsibility of the employer. From the beginning of employment of employee is eligible for PF.
Due Date for PF |
---|
Payment: 15th of every month |
Returns: May 25th of every month |
It covers pension also. The employer contribute equal amount with employee contribution to EPF which is inclusive of EPS (Employee Pension Scheme). It’s a robust pension saves in EPF.
It covers risk also. The financial risk face by dependants of employee in case of instances like retirement or demise, illness, PF helps them to face such situation.
Pf account is a single account. In case of switching jobs this account transferred to the new employer instead of closed down. It will facilitate to link the previous account because Universal Account Number (UAN) linked to the Aadhar. The rate of return is compounded over the years is Ensures by this uniformity.
EPF amount is great help at the time of emergency, because it happens at any time in life. In case of education expenses, wedding, illness employee can make claims online.
Employee deposit 0.5% of the salary deduction as premium for insurance scheme any person who has PF account is eligible for this insurance scheme.
PF account help for extended gosls like buying any property or collect funds for children.
Give a missed call to 011-22901406 from their registered mobile number then the member can easily get the PF balance and previous contribution details. Members are registered under UAN portal and UAN linked with Bank Account Number, PAN or Aadhar.
Also activate member of the UAN send an SMS to 7738299899 from their registered mobile to know their EPFO and PF contribution.
Required Documents and data of employee collected
Register establishment with EPF organization.
Make Digital Signature Certificate of employer (DSC) and register DSC
Fill the application form, fill the details of employer.
Submit form (verified).
You registered under PF. PF registration certificate and universal account number (UAN) issued.
Establishment PAN card
Certificate of incorporation of establishment
Establishment cross cancelled cheque
Proof of address in the name of the establishment (Rent agreement, sale deed, water bill, electricity bill, telephone bill etc.)
Specimen signature of authorized persons
DSC of Authorized person
Majority consent of employees in case of voluntary registration
GST Registration certificate
Bank Details
Employees strength record monthly
Salary and wages registers
Sale bill
Purchase bill of machinery and raw material