EPF Registration
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EPF Registration
What You Need to Know
The Employees Provident Fund Organization (EPFO) of India implements it. The Employees Provident fund Organization (EPFO), India, implements it. The registration must be completed within one month of the date that 20 employees are hired. PF is a great way to offer social security for employees.
The Provident Fund PF, as prescribed by the government, is a scheme of employee benefits that provides assistance to employees in the areas of medical aid, retirement, child education, insurance and housing. The purpose of the fund is to give employees financial stability and security.
Contribution to EPF
- Both Employer and employee must contribute to the EPF.
- The employer deducts the employee’s share of EPF (Employee Contribution Fund) from his salary.
- The employer must deposit his EPF contribution along with the employee’s share.
- The employer’s contribution would be 12 % and the employee’s would also be 12 %.
Why should I contribute to the EPF?
- Employer contributions to PF are tax-free.
- After a certain period, the amount plus interest is exempted from tax.
- Organizations can also voluntarily enroll under PF laws.
Note:Â Delays in the registration of EPFs (Employee Provident Funds) can result in penalties.
EPF Registration Process for Employers: Step by Step
No physical documents are needed to register online. Documents required to fill out the online registration form include:
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Steps
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Details
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1. Register Your Organization with EPFO
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The first step in registering your business with EPFO is to visit the website and click on "ESTABLISHMENT EPF REGISTRATION". You can easily register your company with EPFO on their website by clicking "ESTABLISHMENT EPFO REGISTRATION".
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2. Please read the User Guide
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After you have completed the first page, you will be directed to the "INSTRUCTIONS MANUAL" on the next page. Downloading the manual and reading the instructions thoroughly is a good idea for all users before continuing with the EPF registration.
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3. Register DSC
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After an employer creates its unique login credentials, viz. The Universal Account Number [UAN] can be used to login at any time and download the instructions. DSC [Digital Signature Certificate] is one of the requirements for online EPF registration. DSC is a safe way to sign a document, and it authenticates your employer's identity.
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4. Please fill in the employer's details
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By clicking "I have read this instruction manual", you confirm that you have thoroughly read and understood all of the details. Click the "REGISTER BUTTON". You will be redirected to a page where you need to fill in all of the details about your employer. Fields marked with a star (red) are required and should be filled out with care.
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5. Fill in the details correctly
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Name:The exact name as it appears in the Income Tax Department document must be entered. Your application will be rejected if the name is not exactly what it should be.
Details of PAN Card of the Employer: After entering the PAN card details of the employer, a message appears that indicates employer has not been registered before. PAN will confirm the name of the candidate and allow an online application once the PAN details have been verified.
Choose a Username: Select a username. If the username you want is available, the system will accept it. Otherwise, you'll have to select another username.
PIN for mobile: You will receive a number of PIN on your registered mobile number. Click on the "I accept the above declaration" link once you have received the link.
Verify your email: You must verify your email before submitting your application. You will receive an email with a link to verify your email address. Click on the link to confirm your email address.
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EPF Registration: Key Features
Contribution
-Employee’s contribution: 12% of basic salary
-Employer – 12% of basic salary
Tax-free Earnings
-Tax-free interest on PF
-Withdrawal at maturity or after 5 years
Financial security
-Retirement, resignation on loss of income
-Emergencies, death or disability
Quick Registration
– Online submission of a form
-Documentation is easy and processing is faster
Benefits
-Employees’ long-term investments are a good investment
-Pension & Insurance after retirement
Universal A/c number
-Portals allow you to access online services
-Transferring accounts when changing jobs
Documents required for EPF registration
The employers must file EPF returns 15th of subsequent month . For the return filing, the following documents are needed
Employer's contribution amount to EPF
Employee's contribution amount of EPF
ECR (Electronic Challan cum Return) Challan copy
Details of UAN (Universal Account Number), with KYC compliance, of employees
Frequently Asked Questions
How do I register my employees' EPF accounts?
Follow the steps below to register for EPF.
- Register your organization with EPFO.
- Read the User Manual thoroughly.
- Register for the Digital Signature Certificate.
- The employer and employee details must be filled in correctly.
These simple steps will help you to easily register your employees for EPF.
How do I check the balance of my EPF?
By obtaining your Universal Account Number (UAN) you can check the balance of the Employees Provident Fund.
You can check your EPF account easily online once you have received your UAN by visiting the EPFO site. Employees’ Provident Fund Organization
How Many employees are required for EPF account registration?
EPF is an employee-based social security program that helps employees save a portion of their income for future needs.
EPF is compulsory for all establishments, but certain conditions must be met.
- Establishments with 20 or more employees
- The Central Government may, by giving a notice in writing of at least two months to all establishments with less than 20 workers, bring them under EPFO jurisdiction.
- If both the employee and the employer have accepted the provisions of the act, they can then directly contact the central PF commissioner.
Is the Employee Provident Fund (EPF), mandatory?
Contribution to the EPF is compulsory for those with a salary of up to INR 15,000. Those earning more than 15,000 can opt in voluntarily.
Is EPF Online Registration Mandatory?
All establishments must register an EPF account, but certain conditions have to be met.
- Establishments with 20 or more employees
- The Central Government may, by giving a notice in writing of at least two months to all establishments with less than 20 workers, bring them under EPFO jurisdiction.
- If both the employee and the employer have accepted the provisions of the act, they can then directly contact the central PF commissioner.
What is UAN in EPF account registration?
EPF UAN registration is a unique number that is assigned to an individual when he joins EPFO. EPF account registration gives you an EPF-UAN which you can use to access all services related to your EPF online. EPF account services, such as withdrawals, EPF balance checks, EPF loan applications, EPF UAN registration, etc. Registration of EPF accounts is required to perform all services.
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