What are the Compliances in (EPF) Employee Provident Fund?
EPF Compliance Checklist: This important Provident Fund note is something you just cannot miss
EPF Compliance Checklist: Employee Provident Fund or EPF aims to provide wider benefits to the workers on the completion of their service period.
EPF Compliance Checklist: Employees' Provident Fund or EPF aims to provide wider benefits to the workers on the completion of their service period. Every recruiter with 20 or more employees should register under the Employees' Provident Fund Organisation or EPFO. With the amendment in the rule of EPF, the limit of the minimum employees is 10 in certain cases. The recruiting company has to register with the EPFO if it has 10 or more employees under the EPF. However, very few employees know the EPF Compliance that falls under the EPF Act.
"EPF is a benefit for the employees during their retirement. EPF is a social security fund created for the purpose of providing financial security and stability during retirement." EPF applies to any person who is employed for work of an establishment or employed by the contractor in or in connection with the work of an establishment and drawing salary up to Rs 15,000 per month. The salary is calculated as Basic Salary plus Daily Allowance.
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