Registration

Employee Providend Fund (EFP) Registration

Mandatory where 20 employes/workes worked

No Need for Physical visit to Deptt

Hurry Up..!!!

Generally Takes 7-15 days

Employee Providend Fund (EFP) Registration

Employee Providend Fund (EPF)

About:-

EPF is known as PF. Provident Fund is another name for “Pension Fund”. ts purpose is to provide employees with lump sum payments at the time of exit from their place of employment. The primary purpose of PF is to help employees to save a fraction of their salary every month so that he/ she can use the same in an event that the employee is temporarily or no longer fit to work or at retirement. Employers and employees both contribute @12% of wages in contribution account.

As per the new rule, EPFO allows withdrawal of 75% of the EPF corpus after 1 month of unemployment. The remaining 25% can be transferred to a new EPF account after gaining new employment. As per the old rule, 100% EPF withdrawal is allowed after 2 months of unemployment.

Applicability:-

Employee Provident Fund (EPF) is required to provide wider benefits to the workers on the completion of their employment. Every establishment with 20 or more employees should register under the EPF office. With the amendment in the rule of EPF, the limit of the minimum employee is 10 employee. The establishment has to register if it has 10 or more employee under the Employee Provident Fund

Types of Provident Fund:- There are 4 categories of it.

Statutory Provident Fund.
Recognized Provident Fund.
Unrecognized Provident Fund.
Public Provident Fund.

Features:-

The interest earned from funds held in the EPF account is fully exempted from tax. Withdrawals at maturity or after completion of 5 years are also completely tax free
The Contributions made by an employee towards the EPF fund are tax deductible under 80C
Amount accumulated provides financial security during retirement
During emergencies like medical treatment, financial issues, premature withdrawal of the EPF funds are allowed
An employee can withdraw the accumulated amount in the EPF account 2 months after resignation
The accumulated amount is passed on to the employee’s nominee to provide financial stability after 2 months when the employee is declared legally dead
EPF balances can be withdrawn, if the employee is not in a position to work any longer
The employer also contributes towards employee’s pension fund(EPS) along with provident fund, which can be used by the employee upon retirement.

Required Documents:-

Name of the company.
Date of the setup of the organization.
Scanned copy of the company’s PAN (Proprietor’s, in case of proprietorship concern).
Scanned copy of the licenses available in the name of the company. (like GST).
Scanned copy of cheque of company’s bank account.
Address of the company with address proof.
List of Directors / Partners.
Address proof of Proprietor / Director / Partner of the company.
Email address, Mobile number of Proprietor / Director / Partner of the company.
Copy of First sale bill / Job work bill and First purchase bill.
The monthly strength of employees from the date of setup.

Current list of employees with their details:-

Name
Father’s Name
Date of joining
Date of birth
Mobile number
Postal address
Name of nominee
Grade
Salary
Designation
ID proof (Aadhaar and PAN)
Bank A/c number with IFSC code

Digital Signature of the Proprietor / Director / Partner