EPF Registration

PF Registration - An Overview

Employees’ Provident Fund is a social security scheme that helps employees save a small portion of their salary for future benefits.

Every company has to offer its employees an EPF or Employees Provident Fund which is akin to a retirement fund. EPF comes under the purview of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. EPF registration is mandatory for organizations with total employee strength more than 20. Such employers can opt for online PF registration from Vakilsearch. Companies can register for employee provident fund, in 3 easy steps:

  • Free consultation and form filling
  • Connect with a dedicated affiliate for data validation
  • Receipt of PF number

Eligibility for EPF Registration for Indian employers

To be eligible for PF Registration, an organization has to fulfill the following criteria:

  • A factory with the total employee strength of 20 or more.
  • An establishment that employs more than 20 persons. Here, the Central Government defines the class of such firms.
  • An establishment that has less than 20 workers and has been notified of compulsory registration for not less than 2 months.

    Companies with less than 20 employees (Note: Such companies must issue a notice to the Employees’ Provident Fund Organization in 2 months or less than that)

    The employer and the employees of an establishment must mutually agree to apply for PF to the Central PF Commissioner. A notification has to be sent to the Official Gazette from the date of the agreement.

Every employee is eligible for PF right from the beginning of his employment. The responsibility of PF contribution and deduction is of the employer’s.

Benefits of PF Registration Online

Pension Coverage

Besides the contribution of the employee to EPF, the employer adds an equal amount which is inclusive of Employee Pension Scheme (EPS). Therefore, EPF saves you a robust pension.

Cover of Risk

In case of instances like illness, demise or retirement, Provident Fund helps the dependents of the employee by covering the financial risks they face in such situations.

Single Account/one EPF Account

The PF account can be transferred while switching jobs. Universal Account Number(UAN) linked to the Aadhar will start to facilitate the linking of the previous accounts. It can be carried forward to the new employer instead of being closed down. This uniformity ensures that the rate of return is compounded over the years.

Emergency Fund

Emergencies are bound to happen at any point of time in life. EPF amount can be of great help during mishaps, illnesses, weddings and educational expenses. Employee can make claims online.

Employee Deposit Linked Insurance Scheme

Any person who has PF account is eligible for this insurance scheme that requires only 0.5 % of the salary deduction as premium.

Extended Goals

The PF account can be extremely helpful for long-term goals like buying a property or setting up a fund for children.

EPF registration procedure for employers

  • Collect relevant employee data and documents.
  • Establishment Registered with EPFO.
  • Register DSC (Digital Signature Certificate) of the Employer.
  • Fill application with all employer details.
  • Submit verified form
  • Get PF registration certificate & Universal Account Number [UAN]

Our expert will be your advisors and consultants for PF online registration and help get the PF number in 5 to 10 business days (not factoring processing time). On the very first consultation, which is free of any charge, you will get the gist of our PF process. When we work on your behalf, we ensure that the PF application is submitted for the organization in the prescribed format without any errors. We pledge easy working at the most economical prices.

The EPFO members will be able to keep a tab of their UAN status using online methods. All you need to do is to provide the EPF number and select your state. You will automatically get the UAN status.

All the individuals will have to activate their UAN if they need access to all the direct/online facilities given by the Employee Provident Fund.

Documents required for PF Registration

Any business that wishes to apply for PF needs to submit the following mandatory documents:

  • PAN card of establishment
  • Certificate of incorporation
  • Cross cancelled cheque of establishment
  • Address proof that is in the name of the establishment. It can be:Rent agreement
  • Water
  • Electricity
  • Telephone bill
  • Specimen signature of directors and authorized signatories
  • Digital signature of the authorized applicant
  • In case of voluntary registration, consent of the majority of employees

In some entities the underlying may also be needed:

  • First sale bill
  • First purchase bill of raw material and machinery
  • GST Registration Certificate
  • Bankers details
  • Record of a monthly employee strength
  • Register of salary and wages