EPFO Payment Online Process & Steps
The employee Provident Fund Scheme is one of the most useful employee beneficial schemes introduced by the Ministry of Labour. It is one of the ideal retirement funds. It is a type of savings account where both employer and employee contributes an equal amount at regular intervals. Such contributions can be made only by those employers who are registered and employees of registered employers. Employer registration can be either through statute mandate or voluntary.
PF Payment Online
Though contribution to PF account is made both by employer and employee, payment is to be made to PF account by an employer who is registered with PF Act.
From September 2015 all establishments must pay PF online. Online PF payment can be made by the employer either on the EPFO website or through authorized bank website (if the bank allows direct payment through their website) in which the employer has an account and net banking.
Presently EPFO has a tie up arrangement with 10 banks to collect EPFO dues and banks are SBI, PNB, Indian Bank, Bank of Baroda, HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank.
Steps for PF Payment Online
Ensure PF details of the establishment such as establishment ID, Name, address, exemption status, etc. shown are correct
From the ‘Payment’ option drop down select ‘ECR upload’
Select ‘Wage Month’, ‘Salary Disbursal Date’, Rate of contribution, and upload the ECR text file
The uploaded ECR file will be validated for predefined conditions and a screen will appear with the message ‘File Validation Successful. If the ECR file is not validated, an error will throw up. Correct the ECR text file for the specified format and upload it again till it is successfully validated
On the same page TRRN generated will be displayed for the uploaded ECR file. Click on ‘Verify’
Click on the ‘Prepare Challan’ button to generate an ECR summary sheet
Now enter Admin/Inspection Charges and click on the ‘Generate Challan’ Button
Click on the ‘Finalize’ button after verifying the challan amount
Click on ‘pay’ against the relevant TRRN
Select payment mode as ‘online’ and choose from any of the banks appearing in drop down menu and click on ‘continue’
This action will take you to your bank’s internet banking login website where you need to login and make payment through net banking
On successful payment, Payment/Transaction-id will be generated and e-Receipt for transaction confirmation will be populated.
The transaction will be updated at EPFO Portal
The confirmation of payment against TRRN number will be provided by EPFO
Important list of banks that provide online EPF payment services
Along with the list of authorised banks, we have also provided links for specific payment procedure for few banks published on their website:
SBI
PNB
Indian Bank
ICICI
HDFC
Kotak Mahindra
Axis Bank
Bank of Baroda
Created & Posted By Aashima Verma
Accounts Executive at TAXAJ
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