EPF Registration For Employers

EPF Registration For Employers

EPF Registration For Employers


Employees Provident Fund [EPF] is a scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the purview of Employees’ Provident Fund Organisation (EPFO) which is one of the World’s largest Social Security Organizations in terms of clientele and the volume of financial transactions undertaken. The Employee Provident Fund or PF is a retirement saving scheme provided by the government for all salaried employees in India, on which fixed interest is regularly paid.

The Employee Provident Fund is a perquisite given by the employer to their employees over and above their basic remuneration.


Applicability of EPF Registration for Employers


EPF registration is mandatory for all establishments-

  • which is a factory engaged in any industry having 20 or more persons, and
  • to any other establishment employing 20 or more persons or class of such establishments which the Central Government may, by notification specify in this behalf.

Central Government may apply any establishment employing less than 20 employees after giving not less than two months’ notice for compulsory registration

Where the employer and majority of employees have agreed that the provisions of this act should be made applicable to the establishment, they may themselves apply to the Central PF Commissioner. The Central PF Commissioner may apply the provisions of this Act to that establishment after passing the notification in the Official Gazette from the date of such agreement or from any subsequent date specified in the agreement.

Some establishments having less than 20 employees would also be required to obtain PF registration but that is voluntary registration. All the employees will be eligible for a PF from the commencement of their employment and the responsibility of deduction & payment of PF lies with the employer.

The PF contribution of 12% should be divided equally between the employer and employee. The employer’s contribution is 12% of basic wages plus dearness allowance plus retaining allowance. If the establishment has employed less than 20 employees, PF deduction rate will be 10%.


Steps For EPF Registration for Employers

The person needs to follow the under mentioned steps given below

Step 1- Register the organization with EPFO

Visit the website and register the organization with EPFO. In the home page of the Unified portal, there is an option called “ESTABLISHMENT REGISTRATION”.

Step 2: Read the User Manual

Click on the “ESTABLISHMENT  REGISTRATION” and it will take you to the next page where you will get an “INSTRUCTION MANUAL”. A new user must download and read the instruction manual completely before registration process.

Step 3: Register DSC

The employers who are already registered can login with their credentials i.e. with the Universal Account Number [UAN] and password. This instruction manual will explain the process of Employer Registration which is to be followed by registration of DSC [Digital Signature Certificate] of the Employer. Getting DSC registered is a pre-requisite to submitting a fresh application for ERF registration.

Step 4: Fill the Employer’s Details

Tick on “ I have read the instruction manual” completely. Click on “REGISTER BUTTON” given below. This will take you to the new page where all the employer’s details need to be filled in. The fields marked with the red star (asterisk) are mandatory to be filled in.

Step 5: Fill the details correctly





  • First Name: The first name, middle name and last name should be entered exactly as furnished to the Income Tax Department. Any variance in the name of the Income Tax Department will lead to rejection as and when data is verified online.
  • Employer PANAfter entering the employer’s PAN, a message will appear that shows employer is not registered previously. PAN will also be verified like name and an online application will be permitted.
  • User Name: One can select the username of its choice. The system will automatically show whether the same username is available or not.
  • Hint Question/ Answer: One can select the hint question and hint answer of its choice which will be helpful to the person in case one forgets the password. After filling up this, the registration process gets completely and you need to fill the CAPTCHA Code (Characters are shown in the image) then click on GET PIN button.
  • Mobile PIN: The person will get the Pin number on the same mobile number with which you registered and then click on “I agree to the above declaration “
  • Activate E-mail link: An e-mail link will be sent to the given e-mail id which is to be activated to enable the submission of an application for online registration of Establishment.

Documents Required For EPF Registration

The list of documents required for PF registration would vary as per the type of entity who wishes to register themselves which are as follows 

Proprietorship Firms
Society/Trust
Partnership Firms
LLP / Company
Employees
Applicant’s Name.
Certificate of incorporation
Certificate of Registration Firms
Incorporation Certificate
Name


Father’s Name

Date of joining

PAN Card.
MOA and Bye-Laws
Partnership deed
ID proof of Directors
Date of birth


Mobile number

Postal address

Id proof – Driving license/Passport/Voter Card.
Pan card number
Id proof of partners – Driving license/Passport/Voter Card
DSC of Director
Name of nominee


Grade

Salary

Address proof for the premises.
president & members


Address

ID Proof

 

List of all partners with


Address

ID Proof

List of all directors with


Address

ID Proof

Designation


ID proof (Aadhaar Card/ PAN Card)

Bank A/c number with IFSC code

residential address proof


Telephone number



MOA, AOA
Voluntary application


employee details

Signature

date of agreement

For All Other Entities

  • First sale bill.
  • First purchase bill of raw material and machinery.
  • GST Registration Certificate, if registered
  • Bankers details- name, address, branch, IFSC code
  • 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.
  • Salary and PF Statement.
  • Cross cancelled cheque.

What are the benefits of EPF registration?


Given below are the benefits of getting EPF registration:

  1. Risk coverage: The most fundamental benefit of the Provident Fund is to cover the risks employees and their dependents that may arise due to retirement, an illness or their demise.
  2. Uniform account:  One of the most important aspects of the Provident Fund account that it's steady and transferable. It can be carried forward to any other place of employment.
  3. Employee Deposit Linked Insurance Scheme:  This scheme is for all the PF account holders. According to it, 0.5% of the salary is deducted from the life insurance premium.
  4. Long-term goals: There are many long-term goals such as Marriage or higher education that require the urgent availability of funds. The accumulated PF amount often comes handy during such occasions.
  5. Emergency needs: There are certain unanticipated occasions like marriage or other family occasions, any mishappening or illness that require urgent finance. The PF amount can be of great help.
  6. Covers pension: Apart from the employee’s 12% contribution towards EPF, an equal amount is contributed by the employer, which includes 8.33% towards Employee Pension Scheme (EPS).

For more information on this visit www.taxaj.com
Posted by Pooja
Team Taxaj

    • Related Articles

    • EPF Registration Process Online Filing

      EPF Registration For Employers – EPF Employer Login, Registration Employees Provident Fund (EPF) is a scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the purview of the Employees’ Provident ...
    • Step by Step guide for EPF Registration for Employer

      EPF Registration Online Process for Employer Online registration is important for employers as they deduct the TDS from employees’ salary. In order to register online, you will be required to create an account first. PF registration is obligatory for ...
    • Is Employees Provident Fund Compulsory?

      The Employee Provident Fund Organization (EPFO) runs the Employee Provident Fund (EPF) scheme. The scheme aims to provide retirement benefits and social security. But, making contributions to the scheme is not always mandatory for employees. EPF ...
    • EPF Voluntary Registration Process & Filings

      Employees Provident Fund (EPF) is a scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the purview of the Employees’ Provident Fund Organisation (EPFO) which is one of the world’s largest social ...
    • Difference between EPF and EPS in India

      Employee's Provident Fund (EPF) and Employee Pension Scheme (EPS) are framed under the Employee's Provident Fund & Miscellaneous Provisions Act, 1952. The schemes are administered by the central board of trustees that consist of representatives of ...