01 Step

Collect your basic details
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02 Step

Submit the necessary documents
( Provide the required documents and get your queries resolved without any delay.)

03 Step

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(We will provide you PF registration letter and Login details.)

• Business Setup proof (Like GST/MSME/Shop & Act)
• PAN of the Owners, Partner, Proprietor, or the Director
• Address proof (can be any utility bill but should not be older than 2 months)
• Aadhar card of Owners, Proprietor, Partner, or Director.
• Cancelled Cheque or Bank Statement
• Digital Signature of the Proprietor/ Partner or Director.
• Hired/ Rented or Leased Agreement If there is any.

Note: Right Consultancy will guide you, how to create, how to send the data & documents in an easy way.

Employee Provident Fund Overview

Employees Provident Fund is a scheme for the Indian Employees that is controlled by the Provident Funds and Miscellaneous Provisions Act,1952. The Employee Provident Fund is regulated under the umbrella of Employees Provident Fund Organization popularly known as EPFO.

All establishments that have employed 20 or more than 20 employees can apply for PF registration in India. In some cases, subject to the circumstances and the exemption establishments employing less than 20 are still eligible for PF registration. The Employee gets an amount that includes the self and employer’s contribution with interest on retirement or resignation.

Benefits of PF Registration Online

1. Pension Coverage

Besides the contribution of the employee to EPF, the employer adds an equal amount which is inclusive of Employee Pension Scheme (EPS). Therefore, EPF saves you a robust pension.

2. Cover of Risk

In case of instances like illness, demise or retirement, Provident Fund helps the dependents of the employee by covering the financial risks they face in such situations.

3. Single Account/one EPF Account

The PF account can be transferred while switching jobs. Universal Account Number (UAN) linked to the Aadhar will start to facilitate the linking of the previous accounts. It can be carried forward to the new employer instead of being closed down. This uniformity ensures that the rate of return is compounded over the years.

4. Emergency Fund

Emergencies are bound to happen at any point of time in life. EPF amount can be of great help during mishaps, illnesses, weddings and educational expenses. Employee can make claims online.

5. Employee Deposit Linked Insurance Scheme

Any person who has PF account is eligible for this insurance scheme that requires only 0.5 % of the salary deduction as premium.

6. Extended Goals

The PF account can be extremely helpful for long-term goals like buying a property or setting up a fund for children.

How to Check the EPF balance

The members who are registered under the UAN portal can get the details which are available at the Employee Provident Fund Organization (EPFO) by just giving a missed call to 011-22901406 from their registered mobile number. If the member’s UAN is linked with the bank’s account number, PAN card or Aadhar number, then the member can easily get the PF balance and previous contribution details

Activated members of the UAN can get to know their previous EPFO balance and PF contribution by sending an SMS to 7738299899 from their registered mobile.

Who is eligible to get EPF registration?

For Employer

PF Registration is mandatory for all the establishments-

That has engaged 20 or more than 20 people.

For any other establishment that has less than 20 people then the central government has to specify the same in the notification on the behalf.

For Employee

Employees drawing less than Rs.15000 per month need to mandatorily become members of the EPF. According to the guidelines, employees whose basic pay is more than Rs. 15000 a month at the time of joining is not required to make any PF contributions.

But an employee who is drawing pay of more than Rs.15,000 can still be a member and make contributions with the employer and the Assistant PF commissioner.

The amount for the contribution of PF

The employer has to obtain the PF registration within 1 month of attaining the strength, in case of failure to abide by applicable penalties. A registered establishment continues under the purview of the Act even in case the No of employees falls below the required limit.

The employer has to contribute 12% of the (Basic Salary + Dearness Allowance + Retaining Allowance). An equal amount of contribution is to be made by the employee. If the establishment has engaged less than 20 employees the EPFO rules state that the contribution rate for both the employees and the employer is limited to 10 %. In most cases the employees who are employed in the private sector it is on the basic salary on which the whole contribution is calculated.

PF contribution

Employee contribution to EPF: 12% of salary

Employer contribution to EPF: 3.67% of salary

Employer contribution to EPS: 8.33% of salary subject to a ceiling of Rs. 15,000 salaries, i.e., Rs. 1,250

Employer contribution to EDLI: 0.50% of salary

Employer contribution to administrative charges: 0.50% or 500 Rs whichever is high

What is the Employees’ Pension Scheme?

8.33% of the employer’s contribution is routed towards the Employees’ Pension Scheme that is calculated at Rs.15,000. The amount routed to the Employee Pension Scheme would be Rs.1250 in case the basic pay of the person is Rs.15,000. If the Basic Pay is less than Rs.15,000 then 8.33% of the amount will be routed and the balance will be retained in the EPF scheme. On superannuation, the employee would receive the full share with the employer's share reserved for credit in the EPF account.

EPF charges

The contribution is rounded to the nearest rupee for each of the employees for the employee share, the contribution towards pension, and the EDLI contribution.

The employer share is the difference between the employee Share and the pension contribution.

The monthly payment amount towards the EPF administrative charges is rounded to the nearest rupee and a minimum of Rs.500 is payable.

In case the establishment has no member in the month the minimum administrative charges applicable will be Rs.75.

The monthly payment amount under the EDLI administrative charges is rounded to the nearest rupee and a minimum of Rs.200 is payable.

In case the establishment has no member in the month, the payable minimum administrative charge is Rs.25

Suppose the establishment is exempted from the PF scheme inspection charges of 0.18% (Minimum Rs 5) is payable in place of the admin charges

In case the establishment is exempted under the EDLI scheme. The inspection charges of minimum Rs.1 @0.005% are payable in place of the administrative charges.

Due date

Before paying the Salary to the employees the employer must deduct the employee's contribution from his wages. Later, the employee portion and the employer’s share will be payable to the EPFO within 15 days of the close of every month.

The EPF stands tall in terms of returns from a debt instrument. The money is sovereign backed and the interest earned is tax-free. The PF enjoys EEE (exempt, exempt, exempt) status as contributions are deductible from the income. Hardly any debt instruments provide such high returns with safety and assurance. Hence, it is better to transfer the PF account at the time of switching jobs and also avoid the temptation to withdraw the money.

PF Registration FAQ's

• 1. Where I can register a PF account?

  PF registration has to be done with EPFO. The PF registration can be done online on the website.

• 2. Who is eligible to get PF Registration?

  For a salaried employee if the Basic and Dearness allowance is less than Rs.15,000 per month then it is mandatory to get the EPF registration by the employer.

• 3. What is the basic limit for PF registration?

  Employees that draw less than Rs.15,000 per month need to get EPF registration mandatorily, and the employee drawing the Pay above the prescribed limit needs to get permission from the assistant PF commissioner to become a member.

• 4. Is PF registration mandatory?

  PF registration is mandatory for all establishments with 20 or more persons, if the establishment has fewer than20 employees still a PF registration would be required. The employee can become eligible for PF right from the commencement of the employment and onus of deduction and PF payment is with the employer.

• 5. How long does it take to obtain PF registration?

  It requires 07 days to obtain PF registration in India.

• 6. Is PF registration mandatory for a Private Limited Company?

  Not every Private Limited Company is required to obtain PF registration.

• 7. What if the employee doesn't have PF?

  If the employee does not want PF registration, he can fill the Form 11 at the time of joining the job. The employee can also submit a letter addressing the employer stating that he wishes to opt out of the Provident Fund Scheme.

• 8. Which PAN is to be entered to obtain PF registration?

  The PAN issued in the name of the business entity is to be used for PF registration.

• 9. Is it necessary to be present physically to obtain PF registration?

  No, with Right Consultancy you can complete the whole procedure online, all you need to do to submit is the documents required.

• 10. How is the PF registration process helpful in pension?

  The PF is directly related to the employee's pension. Apart from the employee’s contribution that is 12% towards the EPF, an equal amount is contributed by the employer, 8.33% from this goes towards the Employee Pension Scheme.