Employee’s Provident Fund (EPF) is a retirement benefit scheme for the employee which is governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is one of the most important investment schemes for the salaried class of our country. An establishment has to compulsorily register under PF, if it employs more than 20 employees. PF is mandatory for all employees whose monthly salary is less than Rs 15,000. For such employees earning more than Rs 15,000, they can either voluntarily opt out of making contribution to the provident fund or make contribution to the provident fund only after taking permission from the employer & assistant commissioner of PF.
EPF contribution consists of 2 parts – Employee’s Contribution & Employer’s Contribution. Employers have to make a contribution equal to the employee’s contribution. At the time of retirement or during the course of his employment, the employee can withdraw the amount from his accumulated corpus in the Provident Fund account.
The Employee Provident Fund has launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees who have the newly allotted UAN can use the Unified Portal for various services.
Who can apply for EPF Registration?
- Individuals, startups, business owners, and entrepreneurs.
- Private and public limited companies
- Sole proprietorship
- Partnership firm
- Limited Liability Partnerships (LLPs)
- Self Help Groups (SHGs)
- Co-operative societies
- Hindu Undivided Family (HUF)
- Trusts
- Association of Persons
- One Person Company (OPC)
- Local Authority
List of Documents for EPF Registration
Following are the documents required for EPF Registration:
- Pan Card of the Person to be registered
- Aadhar Card
- Proof of constitution of business (Certificate of incorporation, Partnership deed etc)
- Identity and Address proof of Promoters/Partners/Sole proprietor with Photographs
- Address proof of the place of business (Copy of rent agreement, utility bill etc)
- Bank Account statement/Cancelled cheque ( required for authentication of bank details.)
- Letter of Authorization/Board Resolution for Authorized Signatory (In case of company)
- SalesTax / Service Tax / Shops & Establishment Act registration Certificate (If Any)
- Copy of P&L and balance Sheet last 3 years
- Digital Signature
- Type of business activity
- Nature of business.
- Employee’s Basic details
- Employees’ salary details
- Total employee strength
- EMail ID
- Mobile No.
- More Others documents are required as per registration of the Firm / Company
PF return Due Dates
- PF 15th of Every Month Monthly Challan remittance to Bank
- 25th of Every Month Monthly PF Returns
- 30th April Yearly Returns