EPF Registration

Get Online EPF Registration in India

EPF stands for Employee Provident Fund, a scheme governed and regulated by a body named Employee's Provident Fund Organization (EPFO) constituted under Employee's Provident Funds & Miscellaneous Provisions, Act 1952. Apply for EPF Registration in India for Employers.

EPFO is the largest social security organization with a large volume of financial transactions taking place. EPF is the benefit availed to the employee on their retirement in the form of Provident Fund.

What is the Meaning of Employee Under the Employee Provident Fund Registration?

According to section 2(f) of the Employees Provident Funds & Miscellaneous Provisions Act, 1952 an employee includes any form of individual who is carrying out any work with the objective to secure some form of wages. This would also include individual who is considered as any worker getting some proportion of the wages either indirectly or directly. The individuals who are considered as an employee include Full-Time Employees, Part-Time Employees, Work From Home Employees, Contractors, Consultants and Freelancers.

Applicability of EPF Online Registration

EPF registration applies to the following establishments:

• Establishment that is employing 20 or more employees during any time in the previous year
• Factory engaged in any industry having 20 or more employees during any time of the year.
• Central Government, after giving two months notice to the certain establishment for compulsory registration irrespective of their employees. Such an establishment shall get themselves registered immediately upon the receipt of the notice.

The Eligibility Criteria are:

• Compulsory Registration: The organization which has more than 20 employees has to mandatory register according to the requirements of EPFO.
• Voluntary Registration: An establishment which has less than 20 employees can choose for voluntarily registration.
• All Establishments: Any form of organization which is acknowledged according to the requirements of the act will have to register under the Employee Provident Fund.

What is the Benefit of EPF Registration?

• Employer Contributes: The employer contributes some proportion to the EPF fund along with the employee, inclusive of the employee pension scheme (EPS).
• Financial Support: Provident fund acts as financial support at the time of retirement, illness, demise, disability or any similar risk occurred to the employee.
• Carry Forward: PF account of an employee need not to be closed in case the employee switches his job as the same can be carried forwarded.
• Long Term Plans: PF funds can be used by the employee for long term plans.
• Reduces Risk: The employee provident fund reduces the significant proportion of risk that would serve advantageous for both the employees and the dependants.
• One Account: After the employer goes for the online PF registration, a number is provided to the employee which shall stay the same even if the employee changes his job, and stays valid throughout India.
• Employee Deposit Linked Insurance Scheme (EDLI): Under this scheme, it provides benefits with respect to insurance to all the employees. The rate of charge is 0.5% to the account.
• Retirement Savings & Pension: Under the provision of EPF, 12% is deducted and credited to this fund. More than 8.33% from this proportion is credited directly to the requirements of pension.

EPF Registration UAN (Universal Account Number)

Once the establishment is registered in the EPFO portal, it updates the KYC of its employees by generating a Universal Account Number (UAN). Every employee can use their UAN number to claim PF fund, transfer of PF fund online to the bank account, etc.

Contribution Rate

Rate of contribution varies depending upon the number of an employee employed in establishment:

• For Establishment Hiring Employees 20 Or Above: Employer and employee of such establishment shall contribute up to 12% of the employee's salary (Basic wages + Dearness allowances).
• For Establishment Hiring Less Than 20 Employees: Following establishments shall contribute at the rate of 10% of basic wages of the employee — an establishment having up to 10 employees and getting voluntary registration under EPFO; any establishment incurred loss during the previous year; other establishments such as Brick Factory, Jute Factory, Beedi making factory, etc.

Documents Required for EPF Registration

1. PAN Card of the Partner or Proprietor or Director;
2. Aadhar Card of the Partner or Proprietor or Director;
3. Digital Signature Certificate of the Partner or Director or Proprietor;
4. GST Registration Certificate or Shop & Establishment Certificate or any Licence issued by the Government for the Establishment;
5. Hired or Leased or Rented Agreement (if any);
6. Address Proof such as the water bill or electricity bill or telephone bill of the registered office (not older than 2 months);
7. Canceled cheque or bank statement of the company or entity;
8. License proof issued by the Licensing Authority or Identifier.

What is the Due Date for PF Filing?

Before paying the salaries of employees, the employer must deduct the contribution of the employee. The EPFO will thereafter receive both the employer share & employee half within 15 days of the end of each month.

Penalty Prescribed for the Employer's Delay