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Provident Fund (PF) Registration

The PF contribution paid by the employer is 12% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In case of establishments which employing less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. In most of the cases, for employees working in the private sector, PF Contribution is calculated on the basic salary.

Employees Provident Fund (EPF) is a scheme covered under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. Provident Fund (PF) registration is applicable for all establishments with 20 or more employees. PF registration can also be obtained voluntarily by establishments having less than 20 employees.An equal contribution is payable by the employee. In case of establishments which employing less than 20 employees or meet certain other conditions, as per the EPFO rules.

PROVIDENT FUND (PF) REGISTRATION

 

Basics

 

Employees Provident Fund (EPF) is a scheme covered under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. It is regulated by the Employees’ Provident Fund Organisation (EPFO). Provident Fund (PF) registration is applicable for all establishments with 20 or more employees. PF registration can also be obtained voluntarily by establishments having less than 20 employees.

 

The PF contribution paid by the employer is 12% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In case of establishments which employing less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. In most of the cases, for employees working in the private sector, PF Contribution is calculated on the basic salary.

 

It is mandatory that employees’ drawing less than Rs 15,000 per month, to become members of the EPF. As per the rules in EPF, employee whose ‘pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Also, an employee who is drawing a pay of more than Rs 15,000 can still become a member with permission of Assistant PF Commissioner and with the consent of the Employer.

 

The UAN (Universal Account Number) is a 12-digit unique number that has been allotted to every PF member by EPFO. The UAN controls all PF accounts of an employee and it can be functioned as one account. Hence employees inconvenience due to shift of job resolved.

 

Advantages

 

1. EPF account balance earns interest even in Idle Status.

2. Savings platform that helps employees save a fraction of their salary every month that can be used in the event if in future employee unable to work, or upon retirement.

3. Housing Loan can be availed.

Documents


Passport Photo

Passport Photo of all parties


PAN Card

PAN Card of all parties


Aadhaar Card

Aadhaar Card of all parties


Other Documents

Other documents will be intimated through e-mail

FAQ

An Employee Provident Fund is a scheme that has been put in place for all salaried employees working in any organization with 20 or more employees. The Employee Provident Fund Organization of India or EPFO has provided for all organizations to put a portion of employees' salaries into the provident fund.

For registration on Member Portal, the member shall first click on the link “Member Portal” under category “FOR EMPLOYEES” on the Home page of EPFO website www.epfindia.gov.in.

PF has to be deducted monthly and these monthly savings get accumulated and can be accessed as a lump sum amount at the time of retirement, or end of employment. Thus it’s a social security scheme.

Organizations with 20 or more employees are required by law to register for the EPF scheme, while those with fewer than 20 employees can also register voluntarily. Employees drawing a salary higher than Rs.15,000/- per month, are termed as non-eligible employee and it is not mandatory for such employees to become a member of the EPF.

The Employees' Provident Fund Organisation launches the Online Registration of Establishments (OLRE) Portal, for allotment of the PF Code number. Employers applying for Online Code may contact toll-free No. 1800118005 between 09:45 AM to 05:15 PM on any working day for any query in this regard.

As per the rules of EPF, employee whose salary is more than Rs.15,000/- a month at the time of joining, is non-eligible employee. Employees drawing less than Rs.15,000/- per month have to mandatorily become members of the EPF.