Provident Fund Registration

Provident Fund

Provident Fund refers to worker’s social safety zone where they must contribute a portion of their salaries and employers are required to contribute on behalf of their workers. The money in this fund is paid out to the retirees or in sometimes to the disabled who cannot work.
ESI registration also becomes an important aspect of the organization if it falls under the criteria of ESI registration. However for knowing more about PF registration send us your query immediately.




PF Registration Documents include:

  • Present and 1st Partnership Deed/Memorandum and Articles of Association while the firm was established
  • List of 10/20 Employees showing basic details such as Father’s Name, Date of Joining and Rate of Basic +DA (Dearness Allowance) salary of each employee
  • Month wise Employment Strength from starting till end date
  • List of Directors/Partners
  • Copy of First Sale Bill/Job Work Bill and first Purchase Bill
  • Bank Account Details (Two Cancelled Cheque or Bank Certificate)
  • Copy of Current month bank statement
  • Residential Proof of the Employer (Driving License/Ration Card/Passport/Identity Card/Aadhar)
  • Copy of Central Excise Registration
  • Copy of Two work Order
  • Copy of Rent Agreement
  • Copy of C.S.T./L.S.T. Registration Certificate./DVAT
  • Copy of Central Excise Registration
  • Copy of Service Tax Registration
  • Copies of Income Tax PAN No. /Copy of Application applied for PAN No
  • Advance Six month ESI contribution pay order in favor of “SBI A/c ESIC.”
  • Declaration forms of all employees
  • 30 Pages of Letter Heads


Procedure for Registration:

  • Going to Employer Registration head under epfindia.gov.in
  • Filling all necessary information to register as a new employer (Name, PAN, Username etc)
  • Uploading of Digital Signature and obtaining Digital Signature Certificate (DSC) for the employer after filling all necessary details
  • Filling OLRE (Online Registration of Establishment) Application for obtaining PF Code Number. One needs to comply with all pf registration rules.
  • Uploading OLRE Application along with all necessary Documents
  • Downloading the PDF file for future reference after uploading becomes successful.


Facts



  • EPF Registration is mandatory when employing 20 or more employees
  • Filling all necessary information to register as a new emplFor Cinema theatres, on employing 5 or more employees, EPF is necessary to be done
  • Voluntary organizations engaged in leprosy eradication program need not apply for PF registration


FAQs :


1. What is PF registrstion?

Provident fund is a government mandated financial security which is extended to the employees of an organization having more than 20 individuals on its payroll. It is regulated by the Employees Provident Fund Organization (EPFO).


2. What is the contribution of PF both by employer and employee?

The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer.


3. Is it compulsary for all the employees to contribute to PF??

Employees drawing basic salary upto Rs 6500/- (Rs. 15000/- from 01.09.2014) have to compulsory contribute to the Provident fund and employees drawing above Rs 6501/- ( (Rs. 15001/- from 01.09.2014)) have an option to become member of the Provident Fund.


4. Which form has to be filled while becoming the member of PF?

Nomination Form No 2 has to be filled to become a member of the Provident fund, form is available with HR department.


5. Whether the member is required to be registered on Member Portal to file the claim online?

Yes, the member is required to be registered on Member Portal to file the Transfer Claim online. The detailed process flow for the registration is available at the link available on the Homepage of EPFO website www.epfindia.gov.in


6. What happens of the employer does not register?

The online generation of challan will not be possible if the employer has not registered his/her establishment. The employer has to register and create his/her user id & password for accessing the Employer Portal of EPFO.


7. Do we get any interest on amount which os deposited in the PF account?

Compound interest as declared by the Govt. is given for every year of service.


8. What are the benefits provided by Employee Provident Scheme?

Two kinds of benefits are provided under the scheme-
a) Withdrawal benefit
b) Benefit of non -Refundable advance