Provisions of PF
Process of EPF Registration
There are generally no compulsory registrations required to be taken by the Sole Proprietor. However, following voluntary registrations may be taken if the owner wishes to expand the business:
The Ministry of Labour & Employment has developed a unified Web Portal 'Shram Suvidha' portal for registration under Employees' State Insurance Act (ESI) ACT-1948. User is required to register himself on the same.
After Employer Registration, DSC Registration is required for submitting a fresh application for EPF Registration.
The application needs to be filled where all the basic details are required to be entered such as Name of Entity and PAN etc.
After filling the application, final submission is made on the portal. Thereafter, registration certificate is issued by the department.
Documents required of Proprietor/Partner/Director
PAN Card & Aadhaar Card
Documents for the Entity
PAN Card of the Firm/Company/Society
Cancelled Cheque bearing the name of company and account number
Address Proof of the Premises
Business Registration Documents
Business Registration Documents (Company – Certificate of incorporation; Proprietorship – Certificate of Registration; Partnership Firm – Partnership Deed)
List of employees
List of employees working in the entity with their name, date of joining, salary etc.
- Who should get this registered?
All the establishments who employ 20 or more people are mandatorily required to get themselves registered with the PF Department. 20 employees here include contract employees like housekeeping, security or other contractual workers in the business.
The registration may also be obtained voluntarily by any establishment who doesn’t meet the aforementioned criteria but is willing to provide the advantages of Provident Fund to its employees.
- Why should you get this registered?
It is a mandatory registration for the employers who meet the eligibility criteria. Registration is required to be done within a month of completing the employee strength of 20. Delay in registration may also attract penalty.
How StartUp Movers can help you?
HOW STARTUP MOVERS CAN HELP YOU?
- Obtaining PF Registration
- Assistance in PF Payment
- Computation of PF
- Payroll Management
- Filing of PF Returns
Frequently asked questions
12% of the Basic Salary plus Dearness Allowance plus Retaining Allowance needs to be contributed each by the Employee and Employer. Out of employees’ contribution, 3.67% is contributed to Provident Fund and 8.33% is contributed to Pension Scheme.
Normal duration of completion of EPF Registration is 4-7 working days.
It is specifically barred under Section 12 of the EPF&MP Act, 1952.
In the absence of wages and employer, no recovery can be affected. Any contribution by the member needs to be matched with the employers’ share of contribution.
No. The Provident Fund enjoys protection against attachment by any Court also as per the Provisions of EPF&MP Act, 1952.
Establishments which engage less than 20 employees or meet certain other conditions, as per the EPFO Rules, are required to contribute only to the extent of 10%.
The procedure of Registration is online and a scanned copy of documents is required to be mailed.
Yes. The member can pay voluntary contribution in excess of his normal contribution of 12% of INR 15,000. The total contribution (voluntary plus mandatory) can be up to INR 15,000 per month. The employer may restrict his own share to the statutory rate. Member can also contribute on higher wages i.e., greater than INR 15,000 after getting permission from APFC/RPFC as per the provisions of para-26(6) of the Scheme.