EPF Registration

Register your business in the Employee Provident Fund Act, 1948 (EPF ACT)

Did your business just hit the threshold that attracts mandatory registration under the EPF act?
Or have you established a new organization that needs it’s EPF registration?
EPF registration process is a very complex one and takes a lot of your productive time to brainstorm and finally get it right. We at ESI, PF & Consultant specialize in the registration of EPF act and other law that apply to your business. No matter how complex the process is, we will get you your EPF registration in the quickest time possible and at the best rate possible.
ESI, PF & Consultant comprises of experts managing the registration process and annual compliances of more than 200 companies in THE_CITY since 1977. Get in touch with in THE_CITY and kickstart your registration process for the EPF act NOW.

About ESI

Benefits

Applicability

Registration

Documents

What is Employee Provident Fund and miscellaneous Act, 1952?

EPF act 1952 is administered by Central Board of Trustees and Employees provident fund organization (EPFO) which comes under the Ministry of Labour and employment. There are 3 main schemes in the EPF act:

Employee provident fund scheme, 1952 (EPF)?

This scheme is meant to promote retirement savings for employees.

Employees pension scheme, 1995 (EPS)

This scheme is meant to provide post-retirement benefits to the employees. 8.33% of the employees salary is contributed by the employer into this scheme so that the employee or his/her nominee can receive pension later in the future. The employee’s basic salary should be a minimum 6500/- to be eligible for this scheme.

Employees deposit linked insurance scheme, 1976 (EDLI)

This scheme is meant to provide relief to the family members of the employee in case of untimely or sudden death.

Applicability of ESI Registration

Which industries and businesses are covered under the EPF act, 1952?

All such industries that are covered under the schedule I of the EPF Act, 1952 are liable to get registered in the EPF scheme if their employee strength is 20 or more, even for one month of a financial year.
For cinemas, the employee strength threshold is 5 or more.

Which employees are covered under the EPF act?

All those employees whose salary (basic+DA) is more than INR 15000 are covered under the EPF act.

Benefits of Registration under ESI

Tax free savings under section 80 of Income tax act if you withdraw your EPF amount after 5 years
Lucrative interest rate of 8% per annum
Post retirement benefits: FULL EPF and EPS amount can be withdrawn at retirement if you have completed 10 years of service.
Your EPF amount can be used towards marriage expenses, death, home loan, construction, etc.
You will get unemployment benefits if you stay jobless for more than 2 months.
Life Insurance: EDLI is an insurance scheme meant to provide financial relief to the family members of an employee who died a sudden death.
The ease of using and tracking the EPF contribution through UAN (Universal account number). Click here to know more about the Huge benefits of UAN number and How to activate your NOW.

What is the EPF registration process?

Mandatory EPF registration

If the employee strength of any eligible organization hits the threshold of 20 even for one month in a financial year, then that organization is liable to apply for EPF registration to avoid several penalties in near future.

Voluntary Registration:

If employer wishes to provide the benefits of EPF to the employees even if the employee strength is less than 20, then he/she can apply for voluntary EPF registration under the EPF act after taking consent from all the employees.

EPF registration process for employers:

The revised process for EPF registration has been made somewhat easier than the previous method but it still is very complex and requires several documents from the employer including a digital signature and PAN.

EPF rates and Calculation:

As we have stated above, the EPF (employee provident fund) contribution goes into the following accounts:

EPF (employee provident fund account)
EPS (employee pension account)
EDLI (employee deposit linked insurance scheme)
ELDI Administration charges (employee deposit linked insurance scheme administration charges)

To understand EPF contribution rates, their breakdown among these four accounts and the salary considered for their calculation, please watch this short videol: Video link.

How we help with EPF registration

ESI, PF & Consultant can help your business obtain EPF Registration in a week, subject to Government processing time.

Application Preparation

An ESI, PF & Consultant EPF Expert will prepare your EPF Application along with the necessary supporting documents that needs to be submitted for EPF Registration.

Application Processing

Once the application is prepared and submitted, the concerned EPF Office will process the application and may request for more information or documents.

ESI Registration

While processing the application, Our EPF Expert will help you respond to any query or request for document (if required) and obtain EPF Registration.

Documents Required For EPF Registration

Employers need to give the following details to successfully register themselves

Name and address of the company
Head office and branch details
Mention date of incorporation/registration of company
Fill up details of employees – total employee strength
Activities the business/enterprise is involved in – i.e. manufacturing, production, service, etc.
Legal details – This is related to legal status of a company, i.e. whether it is a private firm/public company, partnership or society, etc.
Owner details, including designation and address of Directors and partners
Particulars related to wages of employees, i.e. total wages paid out during a month
Details of bank with whom company have banking relationship
PAN details
Basic information of employee (name, date of joining, salary, etc.)

Documents required

Employers are expected to provide certain documents as proof of registration of Employee Provident Fund in order to successfully register, a list of which are mentioned below.

Copy of partnership deed if the company is a partnership firm
A copy of the Certificate of incorporation for a Public or Private Limited Company, issued by the Registrar of Companies
Societies need to provide a copy of their registration certificate
Societies need to provide a copy of the rules and objectives of the society
Public and Private Limited Companies are required to submit a copy of the MOA and AOA
All legal documents required under the Income Tax Act
PAN details of company
Digital Signature Certificate (DSC) Class II
Partition deed
Proof of incorporation – first sales invoice/ license issued by the authorities
Details related to the salary of employees
Balance sheet details

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