Apply for PF Registration in India
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Our professionals can assist you obtaining PF registration as well in regular PF compliances while you stay relaxed about getting insured under PF without any complications.
WHAT IS EMPLOYEE PROVIDENT FUND(EPF)?
The Employee Provident Fund (EPF) in India is a retirement savings scheme mandated by the government for salaried employees. It is regulated by the Employees' Provident Fund Organisation (EPFO) under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. The EPF is designed to provide financial security and stability to employees during their retirement years.
WHY GET EPF ONLINE REGISTRATION FOR EMPLOYER?
What is a Private Limited Company?
PF Registration is mandatory for all the organizations that have 20 or more employees. Such organizations are required to contribute a fixed amount towards Employee Provident Fund out of employee salary and wages.
If an employer fails to get EPF employer registration, or indulges in false representation of facts to avoid PF payment, he shall be liable for a penalty of INR 5,000/-.
WHAT IS THE PF NUMBER FORMAT?
PF number looks like this:- MH/BAN/0001011/000/0000110. Here are the components in the PF number format:-
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MH: These are 1st 2 characters representing Regional Office code (e.g. MH for Maharashtra)
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BAN: Next 3 characters denote code of Regional Office / Sub-regional Office [e.g. BAN for Bandra (Mumbai-I) EPF office]
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0001011: Next 7 digits depict EPF employer registration code
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000: Successive 3 digits tell the extension assigned to the employer (if it’s 000 then extension is blank).
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0000110: Final 7 digits denote exact EPF account number of the employee
WHEN IS PF REGISTRATION FOR EMPLOYER MANDATORY?
In India, Provident Fund (PF) registration for employers is mandatory under certain conditions as per the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. The specific conditions when PF registration becomes mandatory for employers are as follows:
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Number of Employees:
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PF registration is mandatory for any establishment that employs 20 or more employees.
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Certain categories of establishments may be required to register even if they have fewer than 20 employees, as per notifications by the Central Government.
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Types of Establishments:
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The Act covers a wide range of establishments, including factories, companies, and other businesses. Specific types of establishments listed in the Schedule I of the Act are required to register.
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Voluntary Registration:
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Even if an establishment has fewer than 20 employees, it can voluntarily opt for PF registration with the approval of the EPFO. This is often done to provide benefits to employees and to comply with certain contractual obligations.
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WHAT DETAILS DO I NEED TO GIVE FOR PF REGISTRATION?
Employers need to furnish the following details to get PF registration.
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Name & address of your company
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Head office & branch details
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Date of company incorporation
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Total employee strength
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Type of business activity
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Nature of business.
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Director/partners’ details
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Employee’s Basic details
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Employees’ salary details
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Bank account details of the company
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PAN card
BENEFITS OF EPFO REGISTRATION
The Employee Provident Fund (EPF) offers several benefits to both employees and employers. Below are the key benefits:
Benefits for Employees:
1. Retirement Savings:
- EPF helps employees accumulate savings for their retirement, ensuring financial security when they are no longer earning a regular income.
2. Tax Benefits:
- Employee contributions to EPF are eligible for tax deductions under Section 80C of the Income Tax Act. Interest earned and withdrawals are also tax-free if the employee has completed five years of continuous service.
3. Interest Earnings:
- The EPF balance earns a competitive interest rate, which is compounded annually, thus helping to grow the savings significantly over time.
4. Loan and Advance Facility:
- Employees can take loans or make partial withdrawals from their EPF balance for specific purposes like purchasing a house, medical emergencies, education, or marriage. These loans are typically at low or no interest.
5. Insurance Benefits:
- The Employee Deposit Linked Insurance (EDLI) scheme provides life insurance coverage to employees. In the event of the employee's death, the nominee receives a lump-sum amount.
6. Pension Benefits:
- The Employee Pension Scheme (EPS), a part of the EPF, provides pension benefits to employees after retirement, subject to certain conditions.
7. Universal Account Number (UAN):
- The UAN ensures that employees have a single, lifelong EPF account number, making it easier to manage their PF account, especially when changing jobs.
Benefits for Employers:
1. Employee Retention and Satisfaction:
- Providing EPF benefits can enhance job satisfaction and loyalty among employees, helping in retaining valuable staff.
2. Legal Compliance:
- Ensuring EPF registration and contributions helps employers comply with legal requirements, avoiding penalties and legal issues.
3. Competitive Edge:
- Offering EPF benefits makes the company more attractive to potential employees, giving the employer a competitive edge in the job market.
4. Financial Security for Employees:
- Employers contribute to the financial security of their employees, which can lead to a more motivated and productive workforce.
5. Corporate Social Responsibility:
- By contributing to employees' future financial well-being, employers demonstrate their commitment to corporate social responsibility and the welfare of their workforce.
WHAT DO WE MEAN BY UAN NUMBER?
Universal Account Number (UAN) refers to the unique 12 digit number allotted to the employee. UAN Number records employee pf deposited amount and other relevant information which shall continue throughout the employment period and after retirement also. The same can be obtained only through employer EPF registration code.
WHO APPLIES FOR UAN NUMBER REGISTRATION?
The Employer can generate the employee’s UAN. In the event of change of employment, the previous PF UAN number registration shall be linked to the next employer. Employee needs not to get a fresh EPF UAN registration.
DOCUMENTS REQUIRED FOR PF REGISTRATION
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Registration Certificate GST Certificate, Shopex, COI
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Address proof Electricity Bill, Rent agreement, Telephone Bill, Water bill.
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PAN card Of business entity and all partners/directors.
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Canceled cheque Cancelled cheque is required for authentication of bank details.
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Digital Signature of anyone Director. (Pendrive) DSC will be affixed on the application form.
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Additional Document In case of Company - COI/MOA, In case of partnership firm - Partnership deed.
PACKAGES
Standard
₹ 7999
Plus taxes
PF Registration
DSC Class II for 2 years validity
Premium
₹ 11999
Plus taxes
PF Registration
DSC class II for 2 years validity
PF Return filing for up to 10 employees
Basic
₹ 5999
Plus taxes
PF Registration