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EPF Registration

know all about PF Registration process

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EPF Registration

what is EPF

​The Employee Provident Fund or PF is a retirement saving scheme provided by the government for all salaried employees in India, on which fixed interest is regularly paid.

The Employee Provident Fund is a perquisite given by the employer to their employees over and above their basic remuneration.

PF Registration is mandatory for all the organizations that have 20 or more employees. Such organizations are required to contribute a fixed amount towards Employee Provident Fund out of employee salary and wages.

If an employer fails to get EPF employer registration, or indulges in false representation of facts to avoid PF payment, he shall be liable for a penalty of INR 5,000/-.

online EPF registration

​PF number looks like this:- MH/BAN/0001011/000/0000110. Here are the components in the PF number format:-

    MH: These are 1st 2 characters representing Regional Office code (e.g. MH for Maharashtra)
    BAN: Next 3 characters denote code of Regional Office / Sub-regional Office [e.g. BAN for Bandra (Mumbai-I) EPF office]
    0001011: Next 7 digits depict EPF employer registration code
    000: Successive 3 digits tell the extension assigned to the employer (if it’s 000 then extension is blank).
    0000110: Final 7 digits denote exact EPF account number of the employee


PF registration for Employer is compulsory if:-

    He owns a factory having 20 or more people, or
    Any other organization / foundation with 20 or more employees or
    The class of such organizations whom the Central Government may, by notice would specify for compulsory EPF employer registration.

Given below are the benefits of getting EPF registration:

    Risk coverage: The most fundamental benefit of the Provident Fund is to cover the risks employees and their dependents that may arise due to retirement, an illness or their demise.
    Uniform account:  One of the most important aspects of the Provident Fund account that it's steady and transferable. It can be carried forward to any other place of employment.
    Employee Deposit Linked Insurance Scheme:  This scheme is for all the PF account holders. According to it, 0.5% of the salary is deducted from the life insurance premium.
    Long-term goals: There are many long-term goals such as Marriage or higher education that require the urgent availability of funds. The accumulated PF amount often comes handy during such occasions.
    Emergency needs: There are certain unanticipated occasions like marriage or other family occasions, any mishappening or illness that require urgent finance. The PF amount can be of great help.
    Covers pension: Apart from the employee’s 12% contribution towards EPF, an equal amount is contributed by the employer, which includes 8.33% towards Employee Pension Scheme (EPS).


 

What You Need To Know

Each & Every establishment having employer EPF registration needs to file regular monthly returns on 15th of every month and one annual return before the 15th of April every year.

Documents For EPF Registration


  • Registration Certificate GST Certificate, Shopex, COI​


  •     Address proof Electricity Bill, Rent agreement, Telephone Bill, Water bill.


  •     PAN card Of business entity and all partners/directors.


  •     Canceled cheque Cancelled cheque is required for authentication of bank details.


  •     Digital Signature of anyone Director. (Pendrive) DSC will be affixed on the application form.

  •     Additional Document In case of Company - COI/MOA, In case of partnership firm - Partnership deed.

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