REGISTER FOR EMPLOYEE PROVIDENT FUND
Provident fund is another name for Pension Fund. The purpose of the Provident Fund is to provide the Lump Sum payment to the employees at the time of completion of their employment. The provisions relating to the Employees Provident Fund Scheme (EPF) contained under The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. The EPF scheme requires the employee to pay a certain sum of contribution towards the scheme and the equal amount is contributed by the employer. The Employee shall be eligible to get the lump sum amount contributed by him and the employer at the time of their Completion of employment.
Registration with EPF (Employee’s provident fund department) department is mandatorily required when there are more than 20 employees or it can also be taken voluntarily.
Applicable Government Fee for EPF Registration
1 day to gather necessary documents
2 days to prepare necessary details and upload information.
5-6 working days for Government Processing Time.
Copy of Incorporation Document (like partnership deed/MOA and COI)
Relevant Extracts of Books of Accounts
Shops & Establishment Registration Certificate/Factory Licence.
List of Directors/Partners/ owners along with their residential addresses
Copy of PAN of Firm/Company/Proprietor
Copy of PAN and Adhaar of Director/Partner/Proprietor.
Documents of Employees.
Other details and documents as required.
Employees receiving Basic and DA (Dearness allowance) equal to or less than Rs.15,000/- are covered under EPF Act. In case
The contribution by the Employer towards EPF is 3.67% of Basic plus DA and 8.33% toward EPS (Employee Pension scheme), thus total contribution of 12% of Basic plus DA or 12% (3.67%+8.33%) of Rs. 15000/- whichever is lower.
The contribution by the employee is 12% of Basic and DA, however he may opt for higher deduction at his will.
Any employer can opt for registration under EPF Act voluntarily. However, there is mandatory requirement of registration of establishment where the number of employees employed in the establishment is 20 or more.
Covered establishment is an establishment belonging to the class of industries / other establishments, which has been listed in the schedule appended to the Employees’ Provident Fund and Miscellaneous Provisions Act 1952 and where 20 or more persons are employed
The liability under the Act will continue even if number of employees falls below 20.
A Consolidated electronic challan cum Return (ECR) to be filed monthly.
Due date of deposit of EPF contribution is 15th of following month with no grace period.