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Employees who have contributed to PF can withdraw money in their PF account for various reasons by applying on the Unified Portal. PF can be withdrawn for house purchase, medical reasons, marriage or education of family members.
Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of Employees’ Provident Fund Organisation (EPFO). PF registration is applicable for all establishment which employs 20 or more persons. PF registration can also be obtained voluntarily by establishments having less than 20 employee.
The PF contribution paid by the employer is 6% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In case of establishments which engage 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%. For most employees working in the private sector, it’s the basic salary on which the contribution is calculated.
It is obligatory that employees’ drawing less than Rs 15,000 per month, to become members of the EPF. As per the guidelines in EPF, employee, whose ‘basic pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing a pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer.
Once the application is prepared and submitted, the concerned ESI Office will process the application and may request for more information or documents.
While processing the application, an IndiaFilings ESI Expert will help you respond to any query or request for document (if required) and obtain ESI Registration.
An IndiaFilings ESI Expert will prepare your ESI Application along with the necessary supporting documents that needs to be submitted for ESI Regisration.
IndiaFilings.com can help your business obtian ESI Regisration in 12 to 20 days, subject to Government processing time.
Provident fund return must be filed by all entities having PF registration every month. PF return is due on the 25th of each month. Further, a final PF return is due on the 25th of April for the year ended on 31st March.
How does PF&ESIC registration helps you:
An Establishment or business is mandatorily required to obtain PF registration. if total employee strength is 20 or more. PF registration can be obtained voluntarily by establishments having less than 20 employees. Provident fund Registration certificate should obtain within 30 days from the date of completing 20 employees
WE TAKE CARE OF YOUR COMPLIANCE
The Employee Provident Fund has launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees who have the newly allotted UAN can use the Unified Portal for various services.
To improve ease of doing business, all services relating to provident fund like PF registration, PF return filing and payment of PF contribution has been made available online through the Unified Portal.
We can help you get PF registration in 5 - 10 working days. Our services are best in class and is at a reasonable cost (INR 4,999/- per registration)
Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date every month. For most entities, the PF rate of 12% would be applicable.