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EPF Registration Online
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Employees Provident Fund is a scheme for the Indian Employees that is controlled by the Provident Funds and Miscellaneous Provisions Act,1952.
An Overview
Employees Provident Fund is a scheme for the Indian Employees that is controlled by the Provident Funds and Miscellaneous Provisions Act,1952. The Employee Provident Fund is regulated under the umbrella of Employees Provident Fund Organization popularly known as EPFO. All establishments that have employed 20 or more than 20 employees can apply for PF registration in India. In some cases subject to the circumstances and the exemption establishments employing less than 20 are still eligible for PF registration. The Employee gets an amount that includes the self and employer’s contribution with interest on retirement or resignation.
Who is Eligible to Get EPF registration?
For Employer
PF Registration is mandatory for all the establishments
- That has engaged 20 or more than 20 people.
- For any other establishment that has less than 20 people then the central government has to specify the same in the notification on the behalf.
For Employee
- Employees drawing less than Rs.15000 per month need to mandatorily become members of the EPF. According to the guidelines, employees whose basic pay is more than Rs. 15000 a month at the time of joining are not required to make any PF contributions.
- But an employee who is drawing pay of more than Rs.15,000 can still be a member and make contributions with the employer and the Assistant PF commissioner.
EPF Charges
- The contribution is rounded to the nearest rupee for each of the employees for the employee share, the contribution towards pension, and the EDLI contribution.
- The employer share is the difference between the employee Share and the pension contribution.
- The monthly payment amount towards the EPF administrative charges is rounded to the nearest rupee and a minimum of Rs.500 is payable.
- In case the establishment has no member in the month the minimum administrative charges applicable will be Rs.75.
- The monthly payment amount under the EDLI administrative charges is rounded to the nearest rupee and a minimum of Rs.200 is payable.
- In case the establishment has no member in the month, the payable minimum administrative charge is Rs.25
- Suppose the establishment is exempted from the PF scheme inspection charges of 0.18% ( Minimum Rs 5 ) is payable in place of the admin charges
- In case the establishment is exempted under the EDLI scheme. The inspection charges of minimum Rs.1 @0.005% are payable in place of the administrative charges.
Due Date
- Before paying the Salary to the employees the employer must deduct the employee’s contribution from his wages. Later, the employee portion and the employer’s share will be payable to the EPFO within 15 days of the close of every month.
- The EPF stands tall in terms of returns from a debt instrument. The money is sovereign backed and the interest earned is tax-free. The PF enjoys EEE ( exempt, exempt, exempt) status as contributions are deductible from the income. Hardly any debt instruments provide such high returns with safety and assurance. Hence, it is better to transfer the PF account at the time of switching jobs and also avoid the temptation to withdraw the money.
Document Required
Pan Card of Partners, Proprietor, or the Director
Aadhar card of Proprietor, Partner, or Director
Address proof (can be any utility bill but should not be older than 2 months)
Canceled Cheque Or Bank Statement
Digital Signature of the Proprietor/ Partner or Director
Hired/ Rented or Leased Agreement If there is any
EPF Registration Online
Registration
Frequently Asked Questions
PF registration has to be done with EPFO. The PF registration can be done online on the website.
aFor a salaried employee if the Basic and Dearness allowance is less than Rs.15,000 per month then it is mandatory to get the EPF registration by the employer.
Employees that draw less than Rs.15,000 per month need to get EPF registration mandatorily, and the employee drawing the Pay above the prescribed limit needs to get permission from the assistant PF commissioner to become a member.
PF registration is mandatory for all establishments with 20 or more persons, if the establishment has fewer than 20 employees still a PF registration would be required. The employee can become eligible for PF right from the commencement of the employment and onus of deduction and PF payment is with the employer.
It requires 20-25 days to obtain PF registration in India.
Not every Private Limited Company is required to obtain PF registration.
If the employee does not want PF registration he can fill the Form 11 at the time of joining the job. The employee can also submit a letter addressing the employer stating that he wishes to opt out of the Provident Fund Scheme.
The PAN issued in the name of the business entity is to be used for PF registration.
No, with IndiaFilings you can complete the whole procedure online, all you need to do to submit is the documents required.
The PF is directly related to the employee’s pension. Apart from the employees contribution that is 12% towards the EPF, an equal amount is contributed by the employer, 8.33% from this goes towards the Employee Pension Scheme.