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PROVIDENT FUND (PF) REGISTRATION

Register for PF @ Rs 6999 (Professional fee)
    • Get PF Registration Certificate
    • Dedicated Account manager
    • Time required: 3-4 working days
    • 100% Online Process

What is Provident Fund Registration?

Provident fund or employee provident fund is another name for a pension fund that is governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Its purpose is to provide employees with lump-sum payments at the time of exit from their place of employment. The Employees’ Provident Fund Organization (EPFO) is the government body corporate that regulates the law and the scheme of EPF. Provident fund registration is mandatory for all the establishments having 20 or more employees. An establishment having less than 20 employees can register themselves voluntarily under the Act.

The employer is responsible for deducting PF from the salary as per applicable rates and liable to deposit the same within due time to the government. Due date of deposit PF is 15th of every month. PF returns are filed on a monthly basis on the 25th of each month. Apart from the monthly return, one final return is also filed every year. Provident Fund Registration once done will continue for the lifetime of the entity in spite of the fact that the number of employees falls below 20.

Features

Saving tool

Employees can save a considerable amount of money through PF over the period of time. Along with additional contribution from the employers, employees also stand to gain higher returns with interest on the accumulated fund.

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.

Requirements

    • If Number of employee exceed 20 than mandatory registration.
    • Organization can opt for Voluntary registration
    • Organizations need to pay Contribution at specified rate and within specified due dates.
    • The employer can seek exemption from P.F. Scheme for the entire establishment if the majority of the employees also consent for exemption, subject to certain conditions governing grant of exemption and certain formalities
    Company Details
    • Incorporation Certificate
    • ID proof of DirectorsDSC of Director
    • List of all directors with Address and ID Proof
    • MOA, AOA
    • Mobile Number and Official ID of all Directors
    • Board resolution
    Employee Details
    • Name, Father’s Name, Date of joining
    • Date of birth, Mobile number, Postal address
    • Name of nominee, Grade, Salary
    • Designation, ID proof (Aadhaar Card and PAN Card)
    • Bank A/c number with IFSC code
    • Voluntary application, employee details, Signature, date of agreement
    Common Documents Required
    • First sale bill.
    • First purchase bill of raw material and machinery.
    • GST Registration Certificate if registered under GST.
    • Name of the bankers, address of the bank.
    • Record of a monthly strength of the number of employees.
    • Register of salary and wages, all vouchers, all balance sheets from day one to current date of provisional coverage.
    • Date of joining of employees, fathers name and date of birth.
    • Salary and PF Statement.
    • Cross cancelled cheque

PF Registration Process

  • 1
    Basic Documents

    Arrange and provide basic documents as per the list provided by us.

  • 2
    Payment of Fees

    Make the payment of registration fees.

  • 3
    Initiate Process

    An application is to be filed online.

  • 4
    Key Deliverables

    Get the PF Registration certificate

Price

Standard

6999

8399
  • PF registration for upto 20 Employees
Get Started

Basic

9999

11999
  • PF registration for upto 30 Employees
Get Started

Premium

24999

29999
  • PF registration for upto 50 Employees
Get Started

Frequently Asked Questions (FAQs)

PF stands for provident fund. It is a pension fund which provides the employee with a lump sum amount at the time of retirement. It is a saving which accumulates during the service period. Pension is contributed by employee and employer both.

EPF is covered under the Provident Fund and Miscellaneous Provision Act 1952. According to the Act, The following establishment covered under the following need to take mandatory EPF registration:

  • Factory engaged in any industry having more than 20 or more employees.
  • Any other establishment or class of establishment as may be notified by the central government having 20 or more employees.

An establishment having less than 20 Employee may apply for Voluntary Registration under the PF Act.

Registration in PF is completely online. Registration can be done at https://registration.shramsuvidha.gov.in/user/login. Download the user manual for establishment registration and follow the steps given in the manual.

It is partly paid by the employer and partly by the employee. Together, this fund is accumulated over the years of service and withdrawn as per the convenience of the employee within the provisions of the law.

Employee contribution to PF fund is 12% while gross employer contribution comes to 13.61% of Basic and DA. Employer contribution includes Admin Charges.

PF Payments are due on 15th of Each month. PF return must be filed by all entities by the 25th of each month. One Final return is required to be filed on 25th April for the year ended on 31st March.

Registration under EPF cannot be cancelled until and unless the entity wounded up and closed down.PF Commissioner may consider special cases where employer undertake that there is no employee left and in future, no employee will be hired. After the presentation of all documents to the satisfaction of the commissioner, cancellation may be granted.

Once registered under EPF, all the compliances need to be done necessarily irrespective of the fact that the number of employees reduces from 20.

UAN stands for Universal Account Number. It is employee Recognition Number under EPF. It is unique for every employee and remains the same throughout employment. Member ID may be changed on account of jobs under a different employer, but UAN will remain the same. One can get his UAN number by using Member ID, name, Date of birth and mobile number on https://unifiedportal-mem.epfindia.gov.in/memberinterface/.

  1. Make sure that The UAN has been seeded and KYC is done by your current employer
  2. After Switching Submit composite Declaration Form (F-11) to the new employer
  3. New Employer upload the Information in Member portal
  4. Auto transfer of PF Balance initiate from Previous employer to New employer and an intimation will be sent by SMS and Email.
  5. Once registered under EPF, all the compliances need to be done necessarily in spite of the fact that the number of employee reduces from 20.

An employee declaration is a written and signed form that needs to be submitted by the employees to its employer for complying with the rules of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Form no 11 is the employee declaration form that needs to be duly filled with employee details and signed by them for the EPF scheme.

Yes, the PF registration will help in the collection of pensions as PF registration has a direct impact on the pension scheme. Out of the total EPF contribution made by the employer towards the Provident fund, 8.33% goes into the Employee Pension Scheme, which is used for collecting pensions after the retirement of the employee.

Yes, you can apply for PF online using the Shram Suvidha link of Ministry of Labour & Employment. You can check further details here.

The interest rate on EPF for 2018-19 has been set at 8.65%. The rate of return is better when compared with other debt instruments which have a degree of risk involved.

It is illegal to withdraw money at the time of switching the jobs as it can be transferred once you join a new job. However, you can withdraw your EPF money if you have not joined any other job for a period of two months from quitting the earlier job.