Following categories of the Employers and Employees are required to obtain EPF registration:
S.no. |
Types of organization |
Specific
laws
|
1.
|
For
Factories
|
Having
20 or more employees during any time of the year engaged in any industry
|
2.
|
Any
other establishment
|
Having
employing 20 or more employees during any time in the previous year
|
3.
|
Any
other Establishment
|
Compulsory
registration irrespective of their employees when the Central Government,
after giving two month's notice to the particular establishment. Such
establishments shall have to get themselves registered immediately upon the
receipt of the notice with department.
|
4.
|
For
any employee
|
Earning
less than INR 15000/- per month.
|
No, You will not get interest on the withdrawn amount. However, the amount remaining in the EPF account will continue earning interest.
You have to activate UAN by registering at the EPF member portal before you can process claims or withdraw funds online.
It is recommended that you transfer your fund from the old PF account to a new one. If you withdraw the amount before 5 years of service, the withdrawn amount is taxable and should be mentioned under income from other sources while filing ITR.
12% of the employee’s salary goes towards contribution to Provident Fund. Also, Employee State Insurance Corporation(ESIC) is deducted on gross salary which is 1.75% from the employee contribution & 4.75% from the employer contribution.
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