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Provident Fund Registration
@ 4,999/-

Employees’ Provident Fund is a social security scheme that helps employees save a small portion of their salary for future benefits. EPF registration process is mandatory for organizations with total employee strength more than 20. Contact us for assistance.

 

Provident Fund Registration

Employees Provident Fund is a scheme for the Indian Employees that is controlled by the Provident Funds and Miscellaneous Provisions Act,1952. 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.
 

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.

Benefits of Provident Fund Registration

Pension Coverage

Besides the contribution of the employee to EPF, the employer adds an equal amount which is inclusive of Employee Pension Scheme (EPS). Therefore, EPF online saves you a robust pension.

Cover of Risk

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

Single Account/One EPF Account

The PF online account can be transferred while switching 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.

Emergency Fund

Emergencies are bound to happen at any point of time in life. EPF amount can be of great help during mishaps, illnesses, weddings and educational expenses. Employees can make claims online.

Employee Deposit Linked Insurance Scheme

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

Extended Goals

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

Documents Required For PF Registration

Any business that wishes to apply for PF needs to submit the following mandatory documents:

  • PAN card of establishment;
  • Certificate of incorporation;
  • Cross cancelled cheque of establishment;
  • Address proof that is in the name of the establishment. It can be:
  • Rent agreement;
  • Water;
  • Electricity;
  • Telephone bill;
  • Specimen signature of directors and authorized signatories;
  • Digital signature registration of the authorized applicant;
  • In case of voluntary registration, consent of the majority of employees.

In some entities the underlying may also be needed:

  • 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.

Provident Fund Registration Process

  • Collect relevant employee data and documents
  • Establishment Registered with EPFO online Registration
  • Register DSC (digital signature certificate) of the employer
  • Fill the application with all employer details
  • Submit verified form
  • Get PF registration certificate & Universal Account Number [UAN]