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PF Registration Online for Employer

Legal services
PF Registration Online for Employer

There is a legal process called EPF registration, also known as Employee Provident Fund Registration, which has been approved by the Indian government in order to ensure that salaried employees in the organized sector are financially secure during retirement, in times of financial hardship, and if the employee passes away, as they would have been financially secure before they retired. The income generated by employees' and employers' contributions is called employee and employer contributions. According to the Employees Provident Fund Organization of India, this is the most convenient, secure, and easily accessible form of retirement benefit that exists in our country today:

  • It is possible for any company operating in India with 20 employees or more to voluntarily enroll in the scheme (under certain circumstances I believe government policy will permit companies with fewer employees to register).
  • It is recommended that business units that plan to hire the mentioned number of employees apply for EPF registration within a month of hiring the employees. There may be legal action taken against units that fail to do so.
  • An employee pension fund is a mutual contribution fund in which equal contributions are made both by the employer and by the employee based on the employee's salary.
  • People earning up to INR 15,000 per month in an organized sector that is eligible for EPF should apply for this scheme. Those who earn salaries over this amount when they join the company need not be members, however, if they avail of the facility with the consent of their employer and Assistant PF Commissioner, no limitations will apply to them.
  • They may be liable for penalties in the event that they are late in registering. nThe facility is available to the public, private companies, and governmental organizations.

EPF benefits for employers

  • This provides financial security to the employees and their dependents at the time of retirement, sickness, and death.
  • Employee provident funds, which are funds maintained by both the employer and the employee, consist of a pension plan which provides their financial security when they retire.
  • There is one important thing to note about Life Insurance is that it is an optional plan, which only applies to those with pension accounts, as part of the pension scheme.
  • It is possible for a member of a pension scheme to borrow money or take out a partial withdrawal in case of unforeseen expenses, such as illness, disability, moving, or unforeseen expenses.
  • This type of funding is perfect for people with long-term goals, such as purchasing a home, marrying their child, and completing higher education.
  • If employment changes, funds can be transferred and uniformly maintained and carried over for the next year.
  • Some businesses are allowed to claim tax benefits for government contributions to the Employee Provident Fund, an employee benefit program.
  • Under section 80C of the Income Tax Act, the contributions of employees to their pension funds are exempt from taxation. Income from EPF is also exempt from taxation.

Employer's EPF Registration Documents

  • There will be a database maintained by the Income Tax Department which will contain the name of the applicant. It is important to note that an applicant can be either a sole proprietor, partnership, or corporation, all of which can be standing alone. It is important for the applicant to identify the business proprietor prior to filling out the application.
  • In addition, make sure you have the contact details of (as applicable) Partners/Directors, such as their telephone number, address, etc. The contact details of the Proprietor are also essential.
  • In order to participate in the process of securing a partnership, Ltd., Company, Society or Trust, the Managing Member must provide details and provide identification of each member. Ownership: Proof of ownership using documents such as Aadhaar/Voter ID/Passport, etc.
  • Copies of the PAN cards of the business applicants
  • If the company is a company or LLP, the certificate of incorporation needs to be provided.
  • A copy of the deed of partnership and the certificate of registration is needed to complete the application.
  • Bye-Laws, or the Memorandum of Association, of a society or trust.
  • Please find below the address of the business
  • In the event that you own the Registered Office, you are required to submit property papers.
  • It is mandatory to have a legal agreement for the lease or rental of the Registered Office.
  • The first sales and purchase invoice (raw materials, machinery, etc.) is also the first sales and purchase bill.
  • The detailed details of the business unit's bank account can be found in the following table
  • Make sure you check with the account number and name that are preprinted on the check.
  • In the event that GST is registered, the GST Registration Certificate should be obtainable
  • In order to ensure that employees are correctly identified, we collect the following information: employee capacity (monthly report), employee name, DOB, important personal information, date of employment, register of salaries and wages, etc.

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