Provident Fund Registration

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EMPLOYEE PROVIDENT FUND (EPF)

EPF stands for Employee Provident Fund.

The Provident Funds and Miscellaneous Provisions Act, 1952 requires registration for any factory listed in schedule I of the Act or any establishment notified by the central government that employs 20 or more workers. The registration is optional for businesses with fewer than 20 employees. Employers must calculate PF for workers earning Rs. 15,000/- or less per month, but PF is optional for workers earning more than Rs. 15,000/- per month. The employer must deduct 12 percent of the employee’s basic salary plus DA and pay an equal amount to the PF department. additionally, the employer must contribute 0.5% of the employee’s basic salary+DA to the worker Deposit Linked Insurance Scheme and 0.5% of the employee’s basic salary+DA to the PF department as administrative fees. 8.33 percent of the employer’s 12 percent contribution are going to be allocated to the pension scheme, while the remaining 3.67 percent are going to be allocated to the Provident Fund.

Purpose of Employees Provident Fund & Miscellaneous Provision Act:

  • Goals of the employees The Employees' Provident Funds and Miscellaneous Provisions Act passed in 1952, may be referred to as the Provident Fund and Other Provisions Act since it creates Deposit-Linked Insurance Funds, Pension Funds, and Provident Funds for factory and other workers. The Act's purpose is to offer industrial employees' families timely financial support and social security in times of need.
  • Employees' Provident Funds and Miscellaneous Provisions Act, 1952 establishes provident funds, pension funds, and deposit-linked insurance funds for factory and non-factory employees. Together, these schemes provide employees with adulthood and survivor benefits, long-term protection and security for the worker and his family after his death, and timely advances, including advances during sickness and for the purchase/construction of a homestead during the membership period.

Who is required to register for EPF:

  • Who is required to register for EPF
  • Any other establishment employing twenty or more individuals or class of such establishments that the Central Government may specify in this regard by notification in the Official Gazette.

Who is not required to register for EPF:​

  • Any other organization that is a part of or controlled by the Central Government or a State Government and whose employees are eligible for contributory provident fund benefits or old age pensions under any plan or regulation that the Central Government or the State Government has created that governs such benefits.
  • Any other organization that is owned by, controlled by, or subject to the jurisdiction of the Central Government or the State Government and whose employees are eligible for contributory pensions or old age benefits under any program or regulation established by the Central Government or the State Government that governs such benefits.
  • Any other establishment established pursuant to a Central, Provincial, or State Act whose employees are entitled to the advantages of contributory provident fund or old age pension in accordance with any scheme or rule enacted under that Act governing such benefits.

Who is an Employee consistent with EPF:

An “Employee” refers to a person who is employed for remuneration in any kind of work, manual or otherwise, in or in reference to the work of an establishment and who receives his remuneration directly or indirectly from the employer, including:

  • Employed by or through a contractor in reference to the establishment's operations;
  • engaged as an apprentice, but not as an apprentice under the Apprentices Act of 1961 or the establishment's standing orders.

The definition of “employee” includes a part-time employee who is engaged for any add the organization, a sweeper who works twice or 3 times per week, an evening watchman who patrols the shops in the neighborhood, a gardener who works ten days per month, etc.

In Bikaner Cold Storage Co. Ltd. v. Regional P.F. Commissioner, Rajasthan, 1979 Lab. I.C. 1017, the Rajasthan supreme court ruled that people employed in the establishment’s regular course of business should be considered to be employees for the purposes of Section 1(3)(a), and people employed temporarily should be considered to be employees for the purposes of Section 1(3)(b) (a). Temporary workers are not covered by EPF, according to the Supreme Court’s ruling in P.F. Inspector v. Hariharan, AIR 1971 S.C. in 1519.

Employer Responsibilities:

  • Employers are required to register their establishments with the EPFO upon crossing the eligibility threshold of 20 or more employees of specified establishment types. Other establishments that aren't mandated by law to register may register voluntarily.
  • Deduct employee contribution from employee wages, add matching employer contribution, EDLI contribution, and administrative fees, and immediately remit to EPF together with prescribed return. (last day of the month is that the 15th) The timely payment of EPF contributions is in the best interest of businesses. On April 16, 2012, the Federal Reserve Bank of India issued a directive requiring all Scheduled Commercial Banks to ensure that all statutory dues, including EPF dues, are paid annually by the borrower. Establishments utilizing Bank credit from any Scheduled full service bank are required to annually certify this fact to their auditors.
  • Enroll all eligible employees (permanent or temporary) on its payroll – wages up to Rs 15,000 at the time of hire. If they so choose, enroll employees who earn quite $15,000 per annum.
  • Before releasing payment to contractual employees who belong to an EPF-registered organization, verify the status of their EPF contributions. Before making payments to contractors, the Principal Establishment should confirm that contractors have remitted EPF contributions. If remittance isn't made, deduct the quantity from contractor payments and remit to EPFO.
  • Confirm that each one employees have a UAN that is KYC (Aadhaar, checking account, PAN) compliant (Universal Account Number). Generate a UAN and upload KYC information for a replacement employee.
  • Update the family information and nomination of all EPF-member employees.

What Benefits are Available to Employees?

Listed below are the available employee benefits at the organization.

Pension:

 it’s advantageous for employees because they receive pension upon retirement.

Insurance:

If an employee dies during their employment, the worker Deposit Linked Insurance scheme will pay out the insurance amount. Six lakhs of rupees maximum are going to be paid.

House Construction:

When an employee needs funds for the development of his home, he can request some of his PF from the department.

Daughter's Wedding:

 If an employee needs money for his daughter’s wedding, he can withdraw some of his PF account.

Education:

If the worker requires funds for further education, he or she may withdraw funds from the PF.

How to Register a Business under EPF

Now Establishment EPF registration filings are streamlined through a single window. Documents required and Step-by-Step EPF Registration Process are often found below.

Documents Required

For Sole Proprietorship
  1. PAN, Aadhaar Card, Voter ID, Passport, and driver's licence.
  2. Latest passport size photograph
  3. Employer Declaration format example
  4. List of Employees and their titles, if any Mobile Number of the Owner
  5. Proprietor Email id
  6. Registered Office Location the foremost recent power bill, a non-objection letter, and an affidavit from the owner, if the property is owned, are acceptable evidence.
  7. If the property is rented, the owner will provide a rental agreement.
For Other Businesses
  1. Partners or Directors PAN, Aadhaar, Voter ID, Passport, or driver's licence.
  2. Directors or Partners' most up-to-date passport photos
  3. Employer Declaration format example
  4. List of Employees and, if applicable, their titles Directors/Partners Mobile Number
  5. Director/Partner Email Adresse
  6. Partnership Certificate of Registration of Business Partnership Deed or Memorandum of Association, Articles of Association, or LLP Agreement firm/LLP/Company PAN
  7. Board Decision
  8. Registered Office Location the foremost recent power bill, a non-objection letter, and an affidavit from the owner, if the property is owned, are acceptable evidence.
  9. If the property is rented, the owner will provide a rental agreement.

Three-Step Registration:

Documents Prepared

Through Companies - One-Hour House Job

We will prepare all documents for online uploading via the web portal of the EPF Department

Online Submissions

Via EPF Web Portal - One-Hour Task

We will upload the documents to the EPF web portal and include your digital signature, or we'll upload the form using Aadhaar authentication.

Online Registration Certificates

Less Than Three Days

After review, the Officer will approve the shape and issue you the Certificate of Registration Online via their web portal. you'll then enroll eligible employees and update their Know Your Customer (KYC) details.

What are the Returns required by EPF?

The following are the required Employee Provident Fund returns.

Form 9 Revised - return consolidated of employees admitted as members:

Due Date - must be submitted during registration.

The Form No. 9 (Revised) prescribed under Paragraph 36(I) of the Employees' Provident Funds Scheme, 1952 may be a consolidated return of the employees admitted as members of the EPF, EPS, and EDLI Schemes at the time of the establishment's initial coverage under the Act. This return will only be received once during the coverage period.

Form 5A - Return of Ownership: After Registration Deadline

The employer's initial return is this one. Every employer shall provide in duplicate to the Regional Commissioner in Form No. 5A attached hereto details of all the branches and departments, owners and occupiers, directors, partners, managers or the other person or persons who have ultimate control over the affidavit in relation to a factory or other establishment to which the Act applied on the date of the Employees' Provident Funds (Tenth Amendment) Scheme, 1961, or is applied then.

Form 2 Revised- Declaration of Nomination: maturity - to be submitted at the time of joining by the employee

Every member (i.e., employee) of the Fund is required to submit a Form 2 (Revised) declaration and nomination naming one or more beneficiaries to receive his account balance within the event of his death. this type must be submitted in order to declare and nominate an employee. When an employee joins the organization, he will submit the shape.

Form 5 - Monthly Employee Joining Report:

Due Date - 15 days after the end of the month

It is a monthly report containing information about new employees admitted to the Fund during the month. Forms 5 and 10 are combined into one form, with Form 10 columns printed on the rear. The submission deadline for this return is that the 15th of the month.

15 days after the top of the month, Form 10 - Employee Monthly Cessation Report - is due.

On or before the 15th of every month, Form No. 10 are going to be received with a monthly return of subscribers leaving service during the previous month. it's a monthly report containing information about employees who left the organization in a given month.

maturity for Form 12A - Monthly Payment Report is 25 days after the end of the month.

In accordance with Paragraph 38 (2) of the Employees' Provident Fund Scheme, the employer is required to submit a monthly statement in Form -12A within 25 days of the top of each month, detailing the entire number of employees and subscribers under the Employees' Provident Fund, Pension Fund, and Insurance Fund, the entire amount of wages, employer's share of Employees Provident Fund contribution, member's share of Employees Provident Fund contribution, Pension Fund and Insurance Fund contribution, and Administrative charges.

Form 3A Revised - Annual Distribution Card: maturity - One month after the end of the fiscal year

The employer must prepare a Form-3A contribution card for every employee who was in his employ at the start of the schemes or who was hired after that date and who is required or entitled to become or is a member of the Fund. The shape 3A (Revised) must also include the details of contributions recovered to the Pension Fund and the duration of non-contributory service. Form 3A should be submitted for data entry in preparation for annual account compilation. Computers are going to be used to verify the accuracy of contributions. Form 6A (Revised)/OCB Register (Revised) should be appropriately modified for recovery/adjustment, as applicable, supported the final verified total of Form 3A's checklist.

Form 6A Revised - Annual Contribution Consolidation

Within one month of the end of the fiscal year

The employer is required to submit the consolidated annual contribution statement in Form 6A, which details the total amount of recoveries made during the currency period from the wages of each member, as well as the total amount contributed by the employer on behalf of each member during the currency period. During the course of the inspection, the Enforcement Officer will verify the duplicate copy of this return and ensure that the reconciliation has been properly executed (i.e. with Form-12A). Employers must submit Form 6A (Revised), the consolidated annual contribution statement, within one month of the end of the fiscal year, along with Form 3A contribution cards (Revised).

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Let's Deal With Your Confusions

PDF means employee provident fund.

EPFO means employee provident fund organization.

EPS is short form for employee provident scheme.

EDLI stands for Employee Deposit Linked Insurance.

Employers with 20 or more workers are required to register with the PF.

It is optional for employees under 20.

12 percent of his basic salary in addition to DA.
In addition to matching the employee's contribution, the employer must pay 0.5 percent towards the employee deposit linked insurance scheme and 0.5 percent towards administrative fees.

Registration for PF is conducted entirely online, and registration is free.

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