Provident Fund Registration - Overview
Employees Provident Fund (EPF) is a scheme launched and administered by the Provident Funds and Miscellaneous Provisions Act, 1952, for the Indian employees that enable them to save a small portion of their salary for future benefits. EPF is regulated under the Employees Provident Fund Organization also called EPFO.
All organizations or companies that have employed 20 or more than 20 employees can apply for PF Registration in India. In certain circumstances, organizations having less than 20 employees are also eligible for PF Registration. Employers can opt for PF Registration online from Tax Seva Kendra and get registration easily in simple steps and affordable rates.
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Provident Fund Registration Package
- What we provide
- Documents required
- PF Registration Certificate
- Free Consultancy
- PAN Card of the Proprietor/Partner/Director.
- Proof of address-Electric bill/ water bill/Telephone bill of the Registered Office (not older than 2 months).
- Aadhar Card of Proprietor/Partner/Director.
- Shop and establishment Certificate/GST Certificate/ any License issued by the government for the establishment.
- Digital Signature of the Proprietor/Partner/Director.
- Cancelled Cheque or Bank Statement of Entity.
- Hired/Rented/Leased Agreement, if any.
- License Proof issued by the Identifier/Licensing Authority.
PF Registration is compulsory for the organization:
- That has employee strength of 20 or more.
- That has less than 20 employees that have been notified by Central Government as certain class of firms.
The main objective of PF Registration is to provide a certain amount of financial benefit to the employees of establishments in India.
Let us look at some of the advantages of PF Registration.
Fund for emergencies: Emergencies can happen at any point of time in life. EPF can be of great help during the time of such emergencies such as medical needs, mishaps, treatments, wedding, educational expenses etc.
Risk coverage: In case of circumstances like illness, retirement, death or incapability, PF helps the dependents of the employee by providing risk coverage.
Linked Insurance scheme: Any employee having a PF account is eligible for this insurance scheme. This requires a premium of only 0.5% from the salary.
Single EPF account: The PF account of an employee can be transferred while switching jobs. This is done through the Universal Account Number (UAN) that is linked to the Aadhar number, which is carried forward with the new employer instead of closing the account. This ensures that the rate of return is compounded over the years.
Pension Benefit: Along with the EPF, the company also adds an equal amount that is inclusive of Employees Pension Scheme. This gives you more financial coverage as pension.
Any organization wishing to register for EPF must submit the following documents.
- Company PAN Card
- Certificate of Establishment
- Canceled cheque/bank statement
- Company address proof
- Digital Signature of the authorized applicant
- Valid ID proof of the directors and authorized signatories
In some organizations following documents may be required:
- First sale receipt
- Statement or register showing employee strength
- Monthly wages or salary of the employees
- GST Registration
Online PF Registration process is simple as mentioned below:
Step 1: Go to the EPFO Website and select "Establishment Registration"
Step 2: Register and sign up on USSP. This will pop up once you go through the first step.
This page will require the employer to provide the Name, Email, Mobile Number, and Verification Code and then select the ‘Sign Up’ for creating the account.
Step 3: Now log in to the UUSP and select the “Registration for EPFO-ESIC” on the left-hand side of the screen. “Apply for New Registration” on the right side of the screen will appear and select the same.
Then the employer has to select the option "Employees' Provident Fund and Miscellaneous Provision Act, 1952" and click on the "Submit" button.
Upon submitting, "Registration Form for EPFO" page will open and the employer has to fill in the Details of the organization, contact information, Employment Details, Branch, Division and activities etc.
Step 4: After filling up the form, the applicant needs to upload his Digital Signature Certificate and attach requisite documents and upload them. This completes the application which will be notified to the applicant via message or email from UUSP stating that the application has been submitted and registration has been completed. Obtain PF Registration certificate online.
Online PF Registration is obtained within 20 to 25 days.
We at Tax Seva Kendra have advisors and consultants for PF Registration and will provide you free consultation for online PF Registration and help you get PF Registration certification in the quickest possible time. Our experts will fill up the forms accurately and submit them once you provide us with the required documents. We ensure to deliver you the PF Registration certificate at the earliest time possible and offer you the best possible rates so you can easily avail our service.
Where to register for EPF account?
PF registration is done with EPFO. There is online process to get the registration done.
Who can get PF Registration?
For a salaried employee if the basic salary is below Rs.15,000 per month then it is compulsory to get the EPF registration by the employer.
What is the PF contribution rate?
Both the employee and the employer give 12% of their salary. The PF rate is 10% for companies having less than 20 employees.
How PF Registration help in pension coverage?
8.33% of the total amount contributed by the employer goes into the EPS.
How many days are required to obtain PF Registration certificate?
It usually takes 20 to 25 days. But we can help get the PF number within 10 to 12 working days.
What if an employee does not want a PF account?
An employee if does not want to have a PF account can opt out of PF scheme by giving a letter to the employer stating his wish. Or he can also fill up the form 11 while joining the job.
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