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Steps for PF Registration

Fill Basic Info.
Upload KYC Documents
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  2499/-

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Inclusive of all taxes

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  • EPF Registration
  • Salary Payroll Format
  • Dedicated EPF Expert
 
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You have to collect following documents / information

Documents Required or PF Registration

Based on the type of entity seeking PF registration, the list of documents required for PF registration would vary as under:

For Proprietorships

  • Name of the applicant
  • Pan card of proprietor
  • Id proof of the proprietor like Driving license/Passport/Election Card
  • Address proof of proprietor.
  • Address proof for the premises.
  • Complete details of the applicant with their residential address and telephone number

For Partnership Firms / LLP / Company

  • 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.
  • 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.
  • 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.

Society / Trust

  • In case of Society, Trust etc, Registration of the organization needs to be done with concerned authority.
  • Certificate of incorporation of society/trust.
  • Moa and Bye Laws of society and trust.
  • Id proof of president and all members of society
  • Complete details of president and all members with their complete address and telephone number.
  • Pan card of society/trust

Common Documents Required for All Entities

  • First sale bill.
  • First purchase bill of raw material and machinery.
  • GST Registration Certificate, if registered under GST.
  • Name of the bankers, address of the bank.
  • Record of a monthly strength of the number of employees.
  • Register of salary and wages, all vouchers, all balance sheets from day one to current date of provisional coverage.
  • Date of joining of employees, fathers name and date of birth.
  • Salary and PF Statement.
  • Cross cancelled cheque.

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FAQ

The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer.

Employees drawing basic salary upto Rs 6500/- (Rs. 15000/- from 01.09.2014) have to compulsory contribute to the Provident fund and employees drawing above Rs 6501/- ( (Rs. 15001/- from 01.09.2014)) have an option to become member of the Provident Fund .

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

Employee who while joining the organisation has a basic salary above Rs 15001/- have an option to either become or avoid becoming member of Provident fund but employees whose basic salary while joining the organisation is less then Rs 15001/- but after some period of time their basic increases above Rs 15001/- have to compulsorily continue to be member of provident Fund.

Employers contribution of 12% of basic salary is totally deposited in provident fund account Whereas out of Employees contribution of 12% , 3.67% is contributed to Provident fund and 8.33% is deposited in Pension scheme.

Nomination Form No 2 has to be filled to become a member of the Provident fund, form is available with HR department.

You just have to fill form no 13 to transfer your P.F amount.

Each member has to make a nomination to receive the amount standing to his credit in the fund in the event of his death. If he has a family, he has to nominate one or more person belonging to his family and none other. If he has no family he can nominate any person or persons of his choice but if he subsequently acquires family, such nomination becomes invalid and he will have to make a fresh nomination of one or more persons belonging to his family. You cannot make your brother your nominee as per the Acts.

For an employee to become eligible for Pension fund, he has to complete membership of the Fund for 10 Years.

When we say continuous service of 10 years in Employee Pension Fund, we mean to say that during services, for e.g., an employee who has worked with X company for say 3 years, then he resigned from that organisation and joined Y company, wherein he worked for 2 years, then resigned from there to join establishment for 5 years but during these 10 years of service he has not withdrawn but transferred his Employee pension fund, then we say continuous service of ten years.

An employee can avail the benefit after completion of 58 years of service.

Employee can withdraw the PF accumulations by filling Forms 19 & 10 C which is available with the HR department.

Form No 19 is for Provident fund withdrawal & Form No. 10 C is for Pension scheme withdrawal.

Compound interest as declared by the Govt. is given for every year of service.

Accounting year is from March to February.

Two kinds of benefits are provided under the scheme :-

a) Withdrawal benefit
b) Benefit of non -Refundable advances

The purpose of the scheme is to provide for

1) Superannuation pension.
2) Retiring Pension.
3) Permanent Total disablement Pension

Superannuation Pension: Member who has rendered eligible service of 20 years and retires on attaining the age of 58 years.

Retirement Pension: member who has rendered eligible service of 20 years and retires or otherwise ceases to be in employment before attaining the age of 58 years.

Short service Pension: Member has to render eligible service of 10 years and more but less than 20 years.

Normally the procedure for receiving P.F & Pension money is , the employee has to fill 19 & 10 c Form and submit the same to PF Desk , which is then submitted to the P.F office after two months, this two months is nothing but a waiting period as the rules are that an employee should not be in employment for two months after resigning if he has to withdraw his P.F amount. After completion of two months the form is submitted to the regional provident fund Commissioner office after which the employee receives his amount along with interest within a period of 90 days.

Previously there was a procedure wherein member use to get P.F through Postal order but now While submitting the P.F form withdrawal form you have to mention your saving Bank account No. & the complete address of the Bank where you hold the account.

PF office sends an annual statement through the employer which gives details about the PF accumulations. The statement contains details like, Opening balance, amount contributed during the year, withdrawal during the year, interest earned and the closing balance in the PF account. This statement is sent by the PF department on completion of the financial year.

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. 6500 p.m. (Rs. 15000/- from 01.09.2014) 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.

No, Where the establishment is closed down and only four security men are employed for keeping a watch over the assets and properties of the establishments, the Act would not be applicable.

Yes, a trainee would be considered as an employee as per the Act but in case the trainee is an apprentice under the Apprentice's Act then he/ she will not be considered as an employee under this Act.

Yes, there is a body called asProvident Fund Appellate Tribunal where an employer can appeal.

In case there is a dispute regarding the applicability of the Act or the quantum of money to be deducted etc. the authority to decide are the

i) Central Provident Fund Commissioner,
ii) any Additional Provident Fund Commissioner,
iii) any Additional Central Provident Fund Commissioner
iv) any Deputy Provident Fund Commissioner
v) any Regional Provident Fund Commissioner or
vi) any Assistant Provident Fund Commissioner

It is the responsibility of the Contractor to deduct the PF and submit a statement to the Principal Employer in the prescribed format by 7th of every month. The Company becomes the Principal Employer would be responsible for the PF deduction of the workers employed on contract basis.

Persons employed by or through a contractor are included in the definition of " employee " under the Employee's Provident Finds Act, 1952, and as such, they are covered under the Scheme.

The Company being the Principal employer is responsible for the PF to be deducted from the Contract workers as well. In case the Contractors fails to deduct and submit the PF dues then the Company has to pay the amount and can later on recover the amount from the Contractor.

Employer cannot be punished or penalized in case there is a delay in the remittance of the contribution on account of delay in Bank or post office.

Arrears are considered to be emoluments earned by the employee and PF is to be deducted from such arrears.

Yes, if an employee desires to contribute an amount at a higher rate of interest than 12 % of basic salary then they can do so but it does not become obligatory for the employer to pay anything above than 12 %. This is called voluntary contribution and a Joint Declaration Form needs to be filled up where the employer and the employee both have to give a declaration as to the rate at which PF would be deducted.

Compound interest as declared by Central Govt. is paid on the amount standing to the credit of an employee as on 1st April every year.


Basic Features

Opening and Investment Limits

You can open a PPF account with a minimum subscription of Rs. 100. You can deposit any amount between Rs. 500 and Rs. 1,50,000 in a year.

Period of Investment

It is a 15-year investment scheme and you can withdraw the funds on maturity.

Interest

A PPF account currently earns an interest of 8.0% as notified by the Government. This interest is completely tax-free in your hand.

Tax benefits

The PPF scheme allows subscribers to enjoy tax exemptions at the time of deposit, accrual of interest, and withdrawal.

Withdrawal Moratoriums

You can make partial withdrawals from your account. Here is a look at the two possibilities.

Transfer-ability

The PPF account can be transferred from any branch of a nationalized bank to the post office and vice-versa.

Loan Facility and Others

The PPF scheme provides account holders the advantage of getting a loan on their accounts.

Special Occasion where EPF helps: In many occasions in the family creates an emergency need of fund. In such a case, EPF helps to withdraw money from the account but in the limit specified. On Marriage, Education needs for self, child or any sibling:
Pension Benefits: Members get the Pension. On the occasion of the death of member Family of the members gets the Pension.