KNOW ALL ABOUT EPF REGISTRATION, STARTING FROM 5,999/- INR

Here is all you need to know about the service you are looking for

PF is one of the main platform of savings in India for nearly all people working in Government, Private or Public sector organizations. It is implemented by the Employees Provident Fund Organization (EPFO) of India. Registration has to be done within One month from the date of hiring 20 employees. Provident Fund PF is largely an employee benefit scheme prescribed by Government which provides facilities to the employees of an organization with regard to medical assistance, retirement, education of children, insurance support and housing. It is created with the purposeto provide financial security and stability to employees. The PF contribution by employer will be tax free and the amount including interest will be exempt from tax on withdrawal after a specific period. Organizations can also enroll themselves voluntarily under PF laws. Any delay may result in a penalty. Ebizfiling will help your organization obtain and manage PF Registration.

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Particulars IEC Registration MSME Registration PF Registration ESIC Registration GST Registration
Governing Authority Ministry of Commerce and Industry Ministry of Micro, Small & Medium Enterprises The Ministry of Labour and Employment The Ministry of Labour and Employment Central Board of Excise & Customs
Under the purview of Central Government Central Government Central Government Central Government Central Government
Taxability on Not applicable Not applicable Salary and wages Salary and wages Goods manufactured, traded and services provided or received
Registration Mandatory for import or export of goods Voluntary Mandatory if employee strength exceeds 20 Mandatory if employee strength exceeds 10 All businesses, whose turnover exceeds prescribed threshold
Filing of Returns Not Required Not Required Monthly Monthly Monthly, Quaterly, Half Yearly and Yearly
Applicable To All importers and exporter All micro, small and medium enterprises Organisations employing more than 20 employees Organisations employing more than 10 employees All businesses, whose turnover exceeds prescribed threshold
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Few points to make your decision easy

Contribution

  • Employee - 12% of basic salary
  • Employer - 12% of basic salary

Tax free earnings

  • Interest on PF is exempt from tax
  • Withdrawals at maturity or beyond 5 years

Financial security

  • Retirement, resignation and on loss of income
  • Emergencies, Death, disability or retrenchment

Quick registration

  • Online filing of application
  • Easy documentation and Faster processing

Benefits

  • Long term investment for employees
  • Pension and Insurance even after retirment

Universal account number

  • Access online through portal
  • Transfer accounts upon change in employment

A small procedure for your quick understanding

Get answers to all your questions here

Who must register with PF Department?

Any company which has 20 or more employees is required to be registered with the PF Department.

What is the time taken to register in EPF?

It will take 10-15 working days.

What is the contribution rate to the Provident fund & pension scheme?

12% of the basic salary deposited in provident fund account is contributed by employers, whereas out of employee contribution of 12%; 3.67% is contributed to provident fund and 8.33% is submitted in Pension scheme.

What is the contribution of employer?

The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer. Employer contribution of 12% of basic salary is totally deposited in provident fund account where as out of Employees contribution of 12%, 3.67% is contributed to Provident fund and 8.33% is deposited in Pension scheme.

What is the basic salary for EPF applicability?

Employees drawing basic salary up to Rs 15000/- have to compulsory contribute to the and employees drawing above Rs 15001/- have an option to become member of the Provident Fund.

Is employee provident fund is taxable?

Provident fund contribution by the employer & employee is not a taxable income for Income Tax purpose.

What is the required number of employees required for employee provident fund applicability?

Any establishment which employs 20 or more employees, except apprentice and casual laborers, every Employee including contract labour who is in receipt of basic salary up to Rs. 15000 p.m. is covered by the Act. Any establishment which has been covered under the Act once shall continue to be governed by the Act even if the number of persons employed therein at any time falls below 20

Still have confusion?

Don’t worry!! Our expert will help you to choose best suitable plan for you. Get in touch with our team to get all your queries resolved. Write us on info@ebizfiling.com or call us @+91 8262 990 990.

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