EPF Registration
An Overview
EPF Registration
Employee Provident Fund (EPF) is an abbreviation for Employee Provident Fund, which is a scheme governed and supervised by the Employee Provident Fund Organization (EPFO), which was formed under the Employee Provident Funds & Miscellaneous Provisions, Act 1952.
EPFO is one of India’s largest social security organisations, with a significant volume of financial transactions. EPF offers many incentives to employees in the form of Provident Fund during their retirement years.
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EPF Registration
Benefits
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EPF Registration
Documents Required
Employers are expected to present certain documents to successfully register EPF as proof in order. A list mentioned below are the documents required for online EPF Registration
In case the company is a registered partnership firm, a copy of partnership deed is required
- A copy of the Certificate of incorporation is needed in case of a public or Private Limited Company and it should be issued by the authorized Registrar and rules and objects of the society
- Societies must submit a copy of their registration certificate
- Private and Public Limited Companies required to submit a copy of MoA and AoA
Along with the mentioned above documents, all legal documents or proofs are required under the Income Tax Act such as PAN details of the company, Partition Deed
- Proof of incorporation such as first sales invoice/ license granted by competent authorities
- Salary information of employees
- First sale bill of the company
- Details of balance sheet
- Salary and PF statement
- The total number of employees who worked for the organization for the month
If the organization has registered under GST, the certificate should be submitted
- Cross cancelled cheque of the company
- Bank details-name, branch, and address of the bank and IFSC code of the branch,
- Details of machinery and raw material purchased – the first time purchase
EPF Online Registration Eligibility
The following establishments are required for EPF registration:
Any establishment with 20 or more staff or employees at any time during the previous year Factory or manufacturing firm that employs 20 or more people at any time during the previous year
The Central Government will provide a two-month notice period during which a specific establishment, regardless of its employees, must complete the registration process. Upon receipt of the notice, such an institution will be registered immediately.
Process - Registration online
In India, the procedure for obtaining EPF registration online is as follows:
Employers have the option of starting the EPF registration process online or offline. In the current situation, the most preferred mode of registration is online, and it is also the most simple. The prescribed registration form for EPF registration can be downloaded from the Employees’ Provident Fund Organization’s official website (EPFO). To successfully complete the registration process, employers must follow the steps outlined below. .
- The first move is for the employer to register the company at the EPFO website, https://www.epfindia.gov.in/site en/index.php. and then select the ‘Establishment Registration’ tab.
- If you are a new user, download the user manual and read it fully before registering or seek proper advice from an expert after clicking on “Establishment Registration.”
Then, to build your account, click the ‘Sign Up’ button and enter the required information, such as your name, email address, phone number, and verification code.
- Fill out a new registration form with the employer’s information, including Establishment Details, Employment Details, Contact Persons, Branch/Division, eContacts, Identifiers, Worker Particulars, Activities, and Attachments.
- Fill in all of the necessary information for each chapter.
- Return the document along with the employer’s DSC (Digital Signature Certificate) after you’ve completed it (DSC).
Once the registration is completed successfully, the department issues the EPF certificate. The Unique Identification Number is found on Form 5 of the certificate.
Following receipt of the registration certificate, the applicant must change or update the KYC of each employee by linking the Aadhar card, bank balance, and other necessary details to generate the employee’s UAN number.
Frequently Asked Questions
Yes, 8.33 percent of the employer’s EPF contribution is deposited in the Employee Pension Scheme (EPS), which can be withdrawn when an employee retires.
8.33 percent of the employer’s EPF contribution is banked in the Employee Pension Scheme (EPS), with the remaining 3.67 percent bifurcated into the EDLI account.
An employer is responsible for all amounts deducted from employee wages that are deposited, as well as paying the employer’s share.
This scheme applies to all businesses or firms with a workforce of 20 or more workers.
This EPF scheme does not apply to retired employees, employees who are transmigrating abroad for the purpose of permanent relocation, apprentices or interns, and so on