PF Registration - For Employers
PF Registration – For Employers Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of Employees’ Provident Fund Organisation (EPFO).
Reta Advisories provides PF Registration starts @4999/-
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As per EPFO guidelines the PF contribution by the employer is 6% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the worker . just in case of establishments during which employees are engaged but 20 or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and also the employer is restricted to 10%. for many employees working within the private sector, it’s the essential salary on which the contribution is calculated. it’s obligatory that employees’ drawing but Rs 15,000 per month, to become members of the EPF. As per the rules in EPF, employee, whose ‘basic pay’ is quite Rs. 15,000 per month, at the time of joining, isn’t required to form PF contributions. Nevertheless, an employee who is drawing a pay of quite Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer.
Important Aspects Relating to PF Registration
Provident fund return must be filed monthly by all establishments having PF registration. PF return is due on the 25th of every month. Every Establishment shall file Final PF return before the 25th of April for the year ended on 31st March.
Provident Fund (PF) payments are due on the 15th of the following month. The employer shall deposit a total of 12% or 10% of the employee wages towards PF on or before due date. For most establishments, the PF rate of 12% would be applicable.
The Employee Provident Fund launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees can use the Unified Portal for various services like PF withdrawal, PF account transfer.
Employees who contributed to PF can withdraw money from their PF account for various reasons by applying through the Unified Portal. PF is often withdrawn for house purchase, medical reasons, marriage or education.