EPF Registration | MyCompanywala

EPF Registration


EPF Registration is mandatory for all those organizations having 20 or more employees. Such organization

  • Drafting of Application for EPF registration
  • Filing of all application with the department
  • Liasioning with the department 
  • Procurement of EPF Establishment Number

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What is EPF?

    • The EPF conspire was introduced under the Employees' Provident Fund and Miscellaneous Act of 1952. It is a reserve funds plot that permits salaried workers to save a specific piece of their month to month salary. Much the same as the employee, the Company additionally adds to the PF Account of the workers.
    • The employee and the employers contribute 12% of the monthly income + Dearness Allowance (if any) in the EPF Account each month. While the employee contribution of 12% is put into the EPF Account, only 3.67% of the 12% contribution of the employer goes into EPF. The remaining 8.33% of the employer is put into Employees’ Pension Scheme (EPS).
    •        Also, workers (employees) do have the choice to expand their EPF commitment intentionally. This extra commitment over as far as possible is added to their Voluntary Provident Fund (VPF). The VPF also acquires intrigue simply like EPF. Nonetheless, on account of VPF, the business isn't required to coordinate the higher commitment of the employee.
  • EPF Registration for Employers and Employees - Eligibility

    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.



  • Documents required for EPF registration

    • PAN card
    • Address Proof
    • ID proof
    • GST registration certificate
    • Sale bill and purchase bill
    • Salary and PF account details
    • Banking Details
    • Cross cancelled Cheque
    • Copy of partnership deed when it is a registered partnership firm.
    • A copy of the Certificate of incorporation when it is a Public or Private Limited Company
    • A copy of their registration certificate in case of society.
    • A copy of MOA and AOA
    • A copy of the rules and objects of the society.
    • Legal documents required under the Income Tax Act.

    Frequently Asked Questions

    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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