Online EPF Registration
Registration starts @ Rs. 5499 (all inclusive)
EPF registration is applicable for all establishment which employs 20 or more persons. IndiaCompliances can help obtain PF registration
PF is one of the main platform of savings in India for nearly all people working in Government, Private or Public sector organizations. It is implemented by the Employees Provident Fund Organization (EPFO) of India. Registration has to be done within One month from the date of hiring 20 employees.
Provident Fund PF is largely an employee benefit scheme prescribed by Government which provides facilities to the employees of an organization with regard to medical assistance, retirement, education of children, insurance support and housing. It is created with the purpose to provide financial security and stability to employees.
The PF contribution by an employer will be tax-free and the amount including interest will be exempt from tax on withdrawal after a specific period. Organizations can also enroll themselves voluntarily under PF laws. Any delay may result in a penalty.
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Important Points in relation to EPF Registration
Employee – 12% of basic salary
Employer – 12% of basic salary
Interest on PF is exempt from tax
Withdrawals at maturity or beyond 5 years
Retirement, resignation and on a loss of income
Emergencies, Death, disability or retrenchment
Online filing of an application
Easy documentation and Faster processing
EMI option Available
Who must register with PF Department?
Any company which has 20 or more employees is required to be registered with the PF Department.
What is the contribution rate to the Provident fund & pension scheme?
12% of the basic salary deposited in provident fund account is contributed by employers, whereas out of employee contribution of 12%; 3.67% is contributed to the provident fund and 8.33% is submitted in Pension scheme
Is employee provident fund is taxable?
Provident fund contribution by the employer & employee is not a taxable income for Income Tax purpose.
What is the required number of employees required for employee provident fund applicability?
Any establishment which employs 20 or more employees, except apprentice and casual laborers, every Employee including contract labor who is in receipt of basic salary up to Rs. 15000 p.m. 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.