Employee provident fund (EPF) is a scheme regulated by central government under the employee’s provident fund and miscellaneous provident ACT, 1952 which come into effects from 1951 which extends to whole of India except Jammu & Kashmir. It is regulated under the purview of employees provident fund organization which is one of the world’s largest social security organizations in terms of clienteles and the volume of financial transaction undertaken. All the companies and organization whose strength exceeds a total of 20 employees have to register mandatorily for EPF. The amount contributed to EPF by the employer and employee, in this case is 12% of basic wages along with dearness and retaining allowance, flowerer the companies with a strength of less than 20 can also register voluntarily for EPF for their employees and in this case the amount contributed is 10%.

Documents required for EPF Registration        

 For Proprietorship firm-

  • Application number
  • PAN card
  • ID proof- Driving license/ passport/ voter card
  • Address proof for the premises
  • Residential address proof
  • Telephone number

For society/ trust

  • Certificate of incorporation
  • MOA and by- laws
  • PAN Card number
  • President and members address ID proof

For LLP /company            

  • Incorporation certificate
  • ID proof of directors
  • DSC of directors
  • List of  all directors with address
  • MOA , AOA 

 For Employees

  • Name
  • Father’s  name 
  • Date  of joining
  • Date of birth 
  • Mobile number
  • Postal address
  • Name of nominee
  • Grade
  • Salary
  • Designation
  • ID proof ( Aadhar card / PAN card )
  • Bank A/C number with IFSC code
  • Voluntary application
  • Employee details
  • Signature
  • Date of agreement

For all other entities

  • First sale bill
  • GST registration certificate if registered
  • First purchase bill of raw material and machinery
  • Bank details: Name, address, branch, IFSC code.
  • Register of salary and wages  all vouchers, all balance sheet from day one to current date  of provisional coverage
  • Cross canceled cheque

Breakup of PF Contribution

We arrive at the rate of 12% based on the following sub- division –

  • % of contribution towards EDLI administration charge.
  • 0.5% of contribution towards employee’s deposit linked insurance.
  • 1.1% of contribution towards EPF administration charges.
  • 3.67% of contribution towards employee’s provident fund.
  • 8.33% of contribution towards employee’s pension scheme.

Advantages OF EPF Registration

  • The PF online scheme offers a pre-fixed interest on the deposit held with the EPF India. Additionally, reward extended at maturity further ensure growth in the employees funds and accelerate capital appreciation.
  • Around 8.33% of an employer contribution is directed towards the employee pension scheme. In the long run, the sum deposited towards the employee provident fund helps to build a healthy retirement corpus would extend a sense of financial security and independence to them after retirement.
  • An EPF fund acts as an individual requires emergency funds. 
  • Under section 80C of the India income tax Act, an employee’s contribution towards their account is deemed eligible for tax exemption. Moreover, earning generated through EPF scheme are exempted from taxes. Such exemption can be availed up to a limit of RS. 1.5 lakh.
  • Members of EPF India are entitled to avail benefits of partial withdrawal.  Individuals can withdraw funds from their PF account to meet their specific requirements like pursuing higher education, constructing a house, bearing wedding expenses or for availing medical treatment.

Due Date for PF filling with EPFO

The employer before paying the employee’s salary must deduct the employee’s contribution from his wages. Then the employee portion are payable to the EPFO, within 15 days of the close of every month.

Eligibility for EPF Registration

  • At least 20 individuals is deemed liable to extend benefits of EPF to its employee’s
  • When an employee becomes an active member of the scheme, they are considered eligible to avail several benefits in the form of employees provident fund benefits, insurance benefits and pension benefits.  

EPF Registration Process

1. Establishment Details –

  • Name of the establishment
  • Address
  • Incorporation Date
  • PAN
  • Type of establishment

If the establishment is a factory then the following details must be provided –

  • Factory license number
  • Date of license
  • Place of issue

2. Employee contacts

The employers must provide E-mail id and mobile number of the authorized person.

3. Contact person     

Employers must provide details of the contact person like a manager. The details are required are-

  • Name
  • Date of birth
  • Contact details
  • Gender

4. Identifiers

The identifiers are the license information that the employer needs to provide

  • Employee strength
  • Gender
  • Type of activities
  • Wages above limit 
  • Total wages

5. Branch / Division

Branch details such as name/ premise number and address.

6. Activities

The employer needs to select the type of business and the activities included from the drop down lists available.

How Can Dial on Financial Service Help You?

Dial on financial service’s team can help you in the PF registration. We will try our best to provide you a good service. We provide services at very low price compared to other service provider.

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