Provident Funds acts as a social security tool for individuals of which Employee Provident Fund (EPF) is one of the major forms. In India, Employees Provident Fund (EPF) is a scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 and is regulated by the Employees’ Provident Fund Organisation (EPFO).
EPF registration is mandatory for establishment with more than 20 employees or Co-operative Societies with more than 50 employees. Entities are required to register themselves within a month of attaining the minimum strength, with penalties applicable for delays in registration. Voluntary registration is possible in case an establishment does not have the minimum prescribed strength. Employer shall be responsible for deduction & payment of PF.
EPF registration process is done by furnishing the relevant information and documents about the establishment. In the offline process, the applicant has to fill-up and submit hard copy of the relevant Form.
Basic information about the establishment is filled and submitted.
Establishment Login ID is generated after verifying Mobile Number and Email ID.
Login with the Credentials shared to complete the Form.
DSC registration is required once the registration of the establishment has been completed.
EPF certificate is issued along with the Unique Identification Number.
Download the Letter/Certificate issued, along with other required documents to the concerned EPF Office.
While a PF Code can be obtained soon, within 3 business days, registering the DSC may take 2 – 3 weeks.
PF registration is mandatory for establishment with more than 20 employees or Co-operative Societies with more than 50 employees. It is likely very soon, the threshold limit will be dropped from 20 to 10 employees.
Yes, registering with EPFO and regularly contributing to the EPF is mandatory for applicable organizations
An employee earning more than Rs. 15,000 per month in basic salary plus dearness allowance. Basic salary generally includes all payment and perquisites which are not added or taken-off based on certain employment criteria (viz. bonus, overtime, deductions for office cab or other facility etc).
A provident fund account is to be opened only by the employer on behalf of the employee in India. No individual can open a Provident Fund account in his or her name.