Frequently Asked Questions on EPF Registration

Frequently Asked Questions on EPF Registration

FAQs on EPF Registration


1. 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.

2. 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.

3. WHAT IS PF RETURN FILING PROCEDURE?

Each & Every establishment having employer EPF registration needs to file regular monthly returns on 25th of every month and one annual return before the 25th of April every year.

4. WHAT IS THE DUE DATE FOR PAYMENT OF PF BY EMPLOYER?

The due date for payment of PF by employer having EPF registration is 15th of every month.

5. WHAT IS THE PENALTY FOR DELAY IN PF PAYMENT BY EMPLOYER?

Delay in payment of PF by employer having PF registration will attract penalty as follows:

S.No

Period of Delay

Rate of Penalty

(p.a.)

1.

Upto 2 months

5%

2.

2 - 4 months

10%

3.

4 - 6 months

15%

4.

Beyond 6 months

25%



6. WHAT IS PF?

The Employee Provident Fund or PF  is a perquisite given to the employees over and above their basic salary, which can help them after their retirement, or at the time of any mishappening or emergency.

7. HOW DOES PF REGISTRATION PROCESS HELP IN PENSION?

PF is directly related to the employee's pension. Apart from the employee's contribution of 12% towards EPF, an equal amount is contributed by the employer. Out of this, 8.33% goes towards the Employee Pension Scheme (EPS).

8. WHAT IF PF REGISTRATION IS NOT DONE?

The PF beneficiary will not be able to access the Employer Portal of EPFO and view his PF status unless he has gone through the  PF registration process.

9. WHAT IF AN EMPLOYEE IS NOT REGISTERED IN PORTAL?

Without PF registration, an employee can't view his PF status on the EPFO portal and also he won't be able to claim any PF amount.

10. WHICH PAN IS TO BE ENTERED FOR PF REGISTRATION?

The  PAN issued by the Income Tax Department in the name of the business entity is to be used for PF registration.



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



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