Easy online EPF Registration
with TAXFIN LEGAL.

WHAT IS EPF?

Employee provident fund is scheme regulated under the purview of Employees’ Provident Fund Organization (EPFO) under Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.

Basically EPF is like a benefit to en employee during the retirement provided by employer/ establishment/ organization.

ELIGIBLE CRITERIA FOR EPF REGISTRATION

It is mandatory to all establishment/organization which has 20 or more than 20 employees working. 

If an establishment or factory will be fulfilling the eligibility criteria then they will have to get their EPF registration within 30 days from the eligibility criteria fulfilled.

Note: The Establishment/Organization can take EPF registration on voluntary basis if they have less than 20 employees.

CONTRIBUTION UNDER EPF SCHEME

 Under EPF Scheme all the employees will be eligible for provident fund from the commencement of their employment.

Under EPF scheme both employee and employer will contribute same 12 % percentage of the basic salary into PF account.

Employer:

Under EPF scheme the employer needs to contribute an amount of 12 % of the total monthly salary payable to the employees in form of 8.33% in EPF Pension Scheme and rest in employee PF Account.

Employee:

Under EPF scheme the employee contribute an amount of 12% of his total monthly salary.

Note: If establishment/organization have less than 20 employees then the PF deduction rate will be 10%.

WHAT ARE THE BENFITS OF ESI REGISTRATION

Since TDS is deducted from employees’ salaries, EPF registration is a critical process for Establishments/organization. Furthermore, they would be required to process remittances only after employer’s generated challans through the EPFO employer portal. As a result, they must go through this procedure.

Risk coverage: The Provident Fund’s most fundamental benefit is to cover the risks that employees and their dependents may face as a result of retirement, illness, or death.

Uniform account: One of the most important aspects of the Provident Fund account is that it is consistent and transferable. It is transferable to any other place of employment.

Employee Deposit Linked Insurance Scheme (EDLIS): This scheme is available to all PF account holders. According to it, the life insurance premium is deducted at the rate of 0.5 per cent of the salary.

Long-term goals: Many long-term goals, such as marriage or higher education, necessitate the immediate availability of funds. During such times, the accumulated PF amount is frequently useful.

Emergency needs: Certain unanticipated events, such as marriage or other family gatherings, as well as any mishap or illness, necessitate immediate financial assistance. The PF amount can be extremely beneficial.

Pension coverage: Aside from the employee’s 12% contribution to EPF, the employer contributes an equal amount, which includes 8.33% to the Employee Pension Scheme (EPS)

DETAILS REQUIRED FOR EPF ONLINE REGISTRATION

• Establishment details- Type of Establishment and its corporation date and address;
• Econtacts-Authorized person contact and email details;
• Contact Person- Authorized person details;
• Identifiers-Any Government authorized license/certificate of establishment;
• Employment details- Details of employees, wages Employee strength, Gender, Type of activities, Wages above limit and Total wages.
• Branch/Division Details – if any
• Activities- National Industrial Classification code and nature of business.

DOCUMENTS REQUIRED FOR EPFO REGISTRATION-PROPRIETORSHIP

1. Proof of Identity and Address

• Pan Card -Self Attested
• Aadhar Card -Self Attested
• Copy of Utility Bill (Water Bill/Electricity Bill)-Self Attested
• Digital Signature Certificate (DSC)

2. Name & Registered Office Address Proof

• Firm Name
• Rent Agreement / Copy of Property registration certificate
• Copy of Utility Bill (Water Bill/Electricity Bill)
• Shop and establishment Certificate/GST Certificate/ any

License issued by the government for the establishment

3. Other Details

• Mobile Number
• Email Id
• List of all working employees with their KYC docs
• Cancelled Cheque of Company Bank Account