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EPF Registration

Employee Provident Fund

Brief

Employees Provident Fund is a scheme for the Indian Employees that is controlled by the Provident Funds and Miscellaneous Provisions Act,1952. The Employee Provident Fund is regulated under the umbrella of Employees Provident Fund Organization popularly known as EPFO. All establishments that have employed 20 or more than 20 employees can apply for PF registration in India. In some cases subject to the circumstances and the exemption establishments employing less than 20 are still eligible for PF registration.

Who is eligible to get EPF registration?

For Employer
PF Registration is mandatory for all the establishments-

  • That has engaged 20 or more than 20 people.
  • For any other establishment that has less than 20 people then the central government has to specify the same in the notification on the behalf.

For Employee

  • Employees drawing less than Rs.15000 per month need to mandatorily become members of the EPF. According to the guidelines, employees whose basic pay is more than Rs. 15000 a month at the time of joining are not required to make any PF contributions.
  • But an employee who is drawing pay of more than Rs.15000 can still be a member and make contributions with the employer and the Assistant PF commissioner.

The amount for the contribution of PF

The employer has to obtain the PF registration within 1 month of attaining the strength, in case of failure to abide by applicable penalties. A registered establishment continues under the purview of the Act even in case the No of employees falls below the required limit.

The employer has to contribute 12% of the (Basic Salary + Dearness Allowance + Retaining Allowance). An equal amount of contribution is to be made by the employee. If the establishment has engaged less than 20 employees the EPFO rules state that the contribution rate for both the employees and the employer is limited to 10 %. In most cases the employees who are employed in the private sector it is on the basic salary on which the whole contribution is calculated. 

Documents Required for Registration

The employer has to attach the following documents with the registration form:

1. PAN of the Partner, Proprietor, or the Director
2. Address proof (can be any utility bill but should not be older than 2 months)
3. Aadhar card of Proprietor, Partner, or Director.
4. Canceled Cheque Or Bank Statement
5. Digital Signature of the Proprietor/ Partner or Director.
6. Hired/ Rented or Leased Agreement If there is any. 

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