Provident Fund (PF) Registration

A fair care.

Get social and economic security, reciprocated.

Benefits

To the employees and then to the employers and vice versa.

  • Saving tool
  • Tax Saving

PF is widely accepted as tax-saving investments. PF Investment is eligible for deduction under section 80C and reduces the taxability of employee. An employee can invest up to 1.5 lakh each year in PF with tax-free proceeds at retirement.

  • Mandatory Compliance

Once an entity crosses the specified number of employees, PF Registration becomes mandatory. Once registered, PF registration cannot be revoked or cancelled even if the number of employees falls below 20.

  • Retirement Planning

PF is an option which serves as an important tool for retirement planning for employees. Accumulated PF proceeds can be used under the MIS scheme for getting a fixed amount per month.

  • Preferred Employer

Employees prefer to work under the employer who has registration under PF. Provident fund registration increases the credibility of the concerned entity. PF registration gives a psychological advantage to an employer who desires to hire and retain talents.

  • Insurance Benefit

There is an insurance scheme linked the EPF contribution. The EPFO has declared the Employees Deposit Linked Insurance (EDLI) Scheme. Under this scheme, if the employee dies during the period of service, then the nominee of the employee will receive a lump-sum insurance amount.

pf-register, Provident Fund (PF) Registration

Procedure

Data collection, application, verification. Registration.

  • Collect relevant employee data and documents.
  • Establishment Registered with EPFO.
  • Register DSC (Digital Signature Certificate) of the Employer.
  • Fill application with all employer details.
  • Submit verified form
  • Get PF registration certificate & Universal Account Number [UAN]
pf-procedure, Provident Fund (PF) Registration

Documents required

Papers of employers, employees and salary information.

Any business that wishes to apply for PF needs to submit the following mandatory documents:

  • PAN card of establishment
  • Certificate of incorporation
  • Cross cancelled cheque of establishment
  • Address proof that is in the name of the establishment. It can be:
  • Rent agreement
  • Water
  • Electricity
  • Telephone bill
  • Specimen signature of directors and authorized signatories
  • Digital signature of the authorized applicant
  • In case of voluntary registration, consent of the majority of employees

In some entities the underlying may also be needed:

  • First sale bill
  • First purchase bill of raw material and machinery
  • GST Registration Certificate
  • Bankers details
  • Record of a monthly employee strength
  • Register of salary and wages

You just need to collect the mandatory documents and send a copy of each document to us. The rest will be handled by the efficient team at Vakilsearch. From filing the form to verification processes and legal formalities, we handle it all!

documents-removebg-preview (1), Companies and OPC Annual Filings, LLP Annual Filing

Why LawDocs?

A great support.

  • The Provident Fund can be a great support, safety and assurance for employees
  • It offers a sense of financial security to the employees.
  • regulated by the Employees’ Provident Fund Organization (EPFO),
  • You do not have to go through the legal complexities of registering for PF.
  • Once we get the required information and the documents, our experts fill the forms accurately and submit them on time.
  • Our team takes the responsibility of follow-ups and deliver you the PF number at the earliest time as possible.
Characteristics-of-Leadership-to-Help-Grow-Your-Business-removebg-preview (1), Companies and OPC Annual Filings, LLP Annual Filing

FAQs

The Employee Provident Fund (EPF) or provident fund (PF) as it is normally referred to a retirement benefit scheme that is available to salaried employees. Under this scheme, a specific amount (currently 12%) is deducted from the employee’s salary and contributed towards the fund.

Every employee is eligible for EPF right from the beginning of his employment. The responsibility of EPF contribution and deduction is of the employer’s.

  • Pension Coverage
  • Cover Of Risk
  • Single Account/One EPF Account
  • Emergency Fund
  • Employee Deposit Linked Insurance Scheme
  • Extended Goals
  • Checking The EPF Balance

Yes. PF has a direct impact on the pension of an employee. The amount contributed by the employer towards EPF, 8.33% of it goes to the EPS, i.e., Employee Pension Scheme.

The employer and employee contribute 12% of the employee’s basic salary towards the EPF scheme. The 12% contribution made by the employer is split in the mentioned ways:

  • EPF Contribution: 3.67%
  • EPS Contribution: 8.33%

Yes, the member is required to take a printout of the claim submitted online and give a copy to the employer after signing it.

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