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PF Registration & Compliance

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PF Registration

Under Employee Provident Fund an employee has to pay a certain contribution towards the scheme and an equal contribution is paid by the employer. The employee gets a lump sum amount including self and employer’s contribution with interest on both on retirement. A minimum yearly deposit of Rs.500 is required to open and maintain a PPF account. A PPF account holder can deposit a maximum of Rs.1.5 lacs in his/her PPF account per financial year. There must be a guardian for PPF. Any amount deposited in excess of Rs.1.5 lacs in a financial year won’t earn any interest.

The contribution paid by the employer is 12% of basic wages plus dearness allowance plus retaining allowance. An equal contribution is payable by the employee also. In the case of establishments which employ less than 20 employees or meet certain other conditions, as per EPFO rules the contribution rate for both employee and the employer is limited to 10%. On retirement the employee will get his full share plus the balance of employee’s share retained to his credit in EPF a/c.

There is a lock in period of 15 years and the money can be withdrawn in full after its maturity period. After 15 years of maturity, full PPF amount can be withdrawn and all is tax free, including the interest amount as well.

Provident Fund return must be filed by all entities having PF registration every month. PF return is due on the 25th of each month.further, a final PF return is due on the 25th of April for the year ended on 31st march and Provident Fund payments are due on the 15th of each month.

For claiming final PF settlement one has to retire from service after attaining 55 years of age. The total EPF balance includes the employees’ contribution and that of the employer along with the accured interest.

To withdraw money one may use UAN based Form 19 and in effect by pass the employer signature requirement. The UAN is a 12-digit number allotted to employees who is contributing to EPF will be generated for each of the PF member by EPFO.

The member who is unable to withdraw PF for any reason can withdraw consent of employer. They can submit FORM 19 for EPF and FORM 10C for EPS with any of the following officials attestation to EPFO office in which in which their EPF account is maintained.

  • Name of the applicant.
  • Pan card of the proprietor.
  • Id proof of the proprietor like Driving license/Passport/Election Card.
  • Address proof of proprietor.
  • Address proof for the premises.
  • Name of the partnership firm or LLP or Company
  • Certificate of Registration Firms in case of Partnership firm. Incorporation Certificate in case of LLP or Company.
  • Partnership deed in case of partnership firms or LLP. MOA and AOA copy in case of Private Limited Company.
  • Id proof of Partners –Pan card /Election Card / Passport/Driving license in case of Partnership Firm or LLP. ID proof of Directors in case of company.
  • Address proof for the premises in all cases.
  • List of all partners with telephone number and address proof of all partners in case of Partnership Firm or LLP. List of all Directors with contact details in case of Company