PF Registration

In 1952, the PF (Provident Fund) or EPF scheme was introduced under the Employee’s Provident Fund and Miscellaneous Act. All the rules and regulations are defined by the Employee Provident Fund Organization. The EPFO’s activities are managed by the Ministry of Labour and Employment.

In this process, the employer will collect an amount by deducting it from your monthly remuneration. As you start working in a firm, both you and the organization contributes 12% of your basic remuneration into the EPF account. This salary includes any dearness allowance provided by the company. You will receive a fixed level of interest on this amount based on the rules set by the EPFO. The total amount that you receive along with the interest is tax exempted.

Applicability of PF

EPF registration is mandatory for all establishments

Which is a factory engaged in any industry having 20 or more persons, and

To any other establishment employing 20 or more persons or class of such establishments which the Central Government may, by notification specify in this behalf.

Central Government may apply any establishment employing less than 20 employees after giving not less than two months’ notice for compulsory registration.

As per the rules, in EPF, employee whose ‘pay’ is more than Rs. 15,000 per month at the time of joining, is not eligible and is called non-eligible employee. Employees drawing less than Rs 15000 per month have to mandatorily become members of the EPF. However, an employee who is drawing ‘pay’ above prescribed limit (at present Rs 15,000) can become a member with permission of Assistant PF Commissioner, if he and his employer agree.

Amount of PF Contribution

The PF contribution paid by the employer is 12% of (Basic Salary + Dearness Allowance + Retaining Allowance). An equal contribution is payable by the employee. In case of establishment which engages less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. For most employees working in the private sector, it’s the basic salary on which the contribution is calculated.

Employees Pension Scheme

Out of employer’s contribution, 8.33% will be routed to Employees’ Pension Scheme, which is calculated at Rs 15,000. The amount routed to EPS would be Rs. 1250 For employees whose basic pay amounts to Rs. 15,000 or more. However, If the Basic pay is less than Rs 15,000 , then 8.33% of such amount would be routed to EPS, the balance will the retained in the EPF scheme. On superannuation, the employee would receive the full share plus the balance of employer’s share reserved for his credit in EPF account.

Breakup of PF Contribution

We arrive at the rate of 12% based on the following sub-division:

  • 3.67% of contribution towards Employees/ Provident Fund.
  • 1.1% of contribution towards EPF Administrative Charges.
  • 0.5% of contribution towards Employees’ Deposit Linked Insurance.
  • 0.01% of contribution towards EDLI Administrative Charges.
  • 8.33% of contribution towards Employees’ Pension Scheme.

Rate of Contribution of P.F.

Particulars PF ESP Admin. Charges Total
Employees Contribution 12 % NIL NIL 12%
Employees Contribution 3.67 % 8.33% 1.61% 13.61%
TOTAL 15.67% 8.33% 1.61% 25.61%

Due Date for PF Filing with EPFO

The employer before paying the employees salary must deduct the employee’s contribution from his wages. The employee portion and employer portion are payable to the EPFO, within 15 days of the close of every month.

Documents Required for EPF Registration

PAN details of Organization

Copy of certificate of incorporation or partnership deed

Public and private Limited Companies need to submit copy of memorandum and Articles of Association.

Proof of incorporation – first sales invoice/license issued by competent authorities

Salary details of employees

Copy of bank statement/Passbook.

Contact Number and E-Mail id of the Applicant

Address Proof of the Organisation

Pricing

Normal

Starting at Rs.7,499/- Onwards
  • EPF or ESI Registration for less than or equal to 20 employees.

Standard

Starting at Rs.14,499/- Onwards
  • EPF or ESI Registration for less than or equal to 40 employees.

Executive

Starting at Rs.24,499/- Onwards
  • EPF or ESI Registration for more than 40 employees.

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Frequently Asked Questions

For registration in EPF do I need to be present in person?

The entire procedure is 100% online and you don’t have to be present at our office or any other office for registration. A scanned copy of documents has to be sent via mail.

Time taken to register in EPF?

We will take 4-5 working days.

Will PF registration help in collection of Pensions?

Yes. PF has a direct impact on the pension of an employee. The amount contributed by the employer towards EPF, 8.33% of it goes to the EPS, i.e., Employee Pension Scheme.

What is employee declaration?

Every employee of the establishment has to furnish a declaration in Form number 11, the purpose of the form 11 is to give details of the employee to the company/employer for the purpose of doing compliance of the provisions of the PF Act and schemes thereof.

What is the UAN?

The UAN number is the short form of Universal Account Number Identification Number allotted by the EPFO to its members, this acts as an account number for the employees. The establishment needs to allot UIN number to all existing employees immediately after registration of the establishments.