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EPF REGISTRATION

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Define EPF (Employee Provident Fund)

EPF stand for “Employee Provident fund”. EPF is deduction from employee’s monthly salary. You may know it as that maddening, indefinable portion of your monthly salary that isn’t able to spend. EPF is a retirement benefit scheme that’s available to all salaried employees. This scheme is maintained and overseen by EPFO (Employees Provident Fund Organisation of India and reputated company with above 20 staffs is required by law to register with the EPFO. Under the EPF scheme, an employee has to pay a certain contribution towards the scheme and equal contribution is paid by the employer. It is lump sum amount for employee including self and employer’s contribution with interest on both, on retirement. According to EPF rules and regulation, employee whose ‘pay’ more than Rs. 15000 p/m is at the time of joining, is not eligible and is called non-eligible employee.

Employer’s and Employee’s contribute towards EPS and EPF

Scheme Employer’s contribution of basic pay Employee’s contribution of
EPF 3.67% 12%
EPS 8.33%
Employer’s and Employee’s contribution towards EPF

The contribution of the employee towards EPF is 12% p/m of basic wages and DA (Dearness allowances). And the same rate is contributed by employer towards EPF also. According to the EPFO rules, the contribution rate of for both (Employer and Employee) is limited to 10%. For most workers are belong to the sequestered sector, it is the basic salary on which the contribution is considered. The entire 12% of your contribution goes into your EPF account along with 3.67% (out of 12%) from your employer, while the balance 8.33% from your employer’s side is averted to your EPS (Employee’s Pension Scheme).

Nomination of EPF

EPF (Employee Provident Fund) has also provided nomination facility. Any employee if registered under EPF scheme can nominate your parent, spouse or children. But you can’t nominate your brother or sister for EPF. Any nominationmade by such member in favour of person not belonging to his family will be invalid. It is (nomination) is necessary. For the purpose of engaging a nominee is to have someone who is trusworthy and liable to handle the nominator’s asset after his expiry.

Who is Eligibility for EPF Registration?

Registration of EPFis compulsory for organisations/companies which employee more than 20 persons, including promised and permanent workers. Which company grow to a strength of 20 members are expected to register themselves under one month from the time of managing this strength, with fines applicable for delays in registration.Co-operative societies are expected to register if their workers strength increase to 50 or more and registered organisations continue to be under the purview of the rules and regulations.

Process for Employers towards EPF Registration

    The process for employers towards EPF registration employers need to provide the following details to successfully register them.

  • Basic details of employee (date of joining, name, salary etc.)
  • PAN details, name and address of company, details of head branch, bank details with who company has banking relationship.
  • Total employee’s strength; fill up details of employees, owner details including designation and address of directors.
  • Legal deatils

LIST OF DOCUMENT


  • PAN Card of company/proprietor/partnership/LLP.
  • Aadhar card of directors/ partners/proprietor
  • List of employee minimum of 10(format porvided by us).
  • In case of company MOA, AOA & COI is requried.
  • In case of partnership/ LLP partnership deed is requried.
  • Premises proof (rent agreement, electricity bill, NOC form landlord etc.)
  • Cancelled cheque
  • Dsc of authorised director/partner/proprietor

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