Description
Prop. Documents:
Pan
Aaadhar
Photo
Other Documents:
Electricity Bill
Rental Agreement
Includes:Â Registration
Duration: 7 Working Days
PF Registration
The Provident Funds and Miscellaneous Provisions Act of 1952 governs the Employees Provident Fund, which is a program for Indian employees. The Employees Provident Fund Organization, or EPFO as it is more commonly known, manages the Employee Provident Fund.
In India, applications for PF registration are accepted from all establishments with 20 or more employees. Under certain conditions and in accordance with the exemption criteria, establishments with fewer than 20 employees may remain eligible for PF registration. An amount equal to the employee’s and employer’s contributions, accrued interest, is disbursed to the employee upon retirement or resignation.
Who is eligible to get EPF registration?
For Employer
PF Registration is obligatory for all establishments that meet the following criteria: • Employ 20 or more individuals; • If an establishment employs fewer than 20 individuals, the central government must specify that in a notification issued on its behalf.
For Employee
Employees earning less than Rs.15,000 per month are required to enroll in the Employees Provident Fund (EPF). Employees whose base pay exceeds Rs. 15,000 per month at the time of employment are exempt from PF contributions, per the guidelines.
However, an employee whose annual salary exceeds Rs.15,000 is still eligible to join the PF and contribute alongside the employer and the Assistant PF commissioner.
FAQ
Where do I go to establish a PF account?
Registration for the PF is required through EPFO. On the website, PF registration is available for completion online.
What is the PF registration minimum requirement?
EPF registration is mandatory for employees earning less than Rs.15,000 per month, and employees earning more than the prescribed amount must obtain permission from the assistant PF commissioner in order to become members.
What is the duration of the PF registration process?
20 to 25 days are necessary to acquire PF registration in India
What occurs if the worker lacks PF?
If an employee wishes to avoid PF registration, they may complete Form 11 upon commencing their employment. Additionally, the employee may notify the employer via letter of his intent to withdraw from the Provident Fund Scheme.
Is physical presence required in order to acquire PF registration?
No, the entire process can be completed online with Kanoons; all that is required to submit is the necessary documents.
Who qualifies for PF Registration status?
In the case of salaried employees receiving a monthly Basic and Dearness Allowance of less than Rs.15,000, employer-provided EPF registration becomes mandatory.
Is registration for the PF required?
PF registration is obligatory for all establishments employing 20 or more individuals; even if the establishment has fewer than 20 workers, PF registration remains mandatory. The employee may be eligible for PF from the moment of employment commencement; the employer is responsible for PF deductions and payments.
Is PF registration for a Private Limited Company obligatory?
Private limited companies are not universally obligated to acquire PF registration.
Which PAN must be inputted in order to be registered for PF?
For PF registration, the PAN issued in the name of the business entity must be utilized.
In terms of pensions, how does the PF registration procedure benefit?
The PF is intrinsically linked to the pension of the employee. In addition to the 12% employee contribution to the EPF, the employer also contributes an equivalent amount, of which 8.33% is allocated to the Employee Pension Scheme.
