PF Registration Has Never Been Easier!

PF registration is mandatory if you have more than 20 employees; why not do your registration conveniently?

How our online PF registration process works:

We collect all the required information

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We ask you to submit the necessary documents

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We get your PF registration done & give you the credentials

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We collect all the required information

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Check the list of documents required to complete the process

Online PF Registration - an Overview

Employees’ provident fund is a social security scheme that helps employees save a small portion of their salary for future benefits.

Every company has to offer its employees an EPF or employees provident fund which is akin to a retirement fund. EPF comes under the purview of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. EPF registration is mandatory for companies with 20 or more employees. PF registration is now done through the MCA portal at the time of incorporation for private limited companies. Employers that have not yet registered for PF can do so online; Vakilsearch offers PF registration in three simple steps:

  • Free consultation and form filling
  • Connect with a dedicated affiliate for data validation
  • Receipt of PF number.

Eligibility

To be eligible for PF Registration, an organisation has to fulfill the following criteria:

  • An organisation with a total employee strength of 20 or more
  • An establishment that has less than 20 workers and has been notified of compulsory registration for not less than 2 months. When a company employs fewer than 20 people, the employer can choose for voluntary PF, which must be reported to the central PF commissioner.

The employer and the employees of an establishment must mutually agree to apply for PF to the central PF commissioner. A notification has to be sent to the official gazette from the date of the agreement.

Every employee is entitled to PF from the start of his or her work. The employer is responsible for PF contribution and deduction. Employees who receive a gross-HRA ceiling of 15,000 can receive PF exemption for the first time; otherwise, all employees will be mandated PF from the start. It is the responsibility of the employer to deduct the PF contribution from the employee's paycheck and remit it on time.

Benefits of PF Registration Online

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.

According to the EPS Act, an employee is entitled to a monthly pension at the time of retirement or superannuation. If the employee is disabled at the time of retirement or superannuation, the employee is entitled to a pension, and if the employee dies, their nominee is entitled to a pension.

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.

Single Account/One EPF Account:

The PF account can be transferred while switching jobs. The universal account number (UAN) linked to the Aadhaar 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.

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. Employees can make claims online.

Employee Deposit Linked Insurance Scheme:

Any person who has a PF account is eligible for this insurance scheme that requires only 0.5 % of the salary deduction as premium. This benefit is paid out in the event of the death of an employee who was a member of the pension plan at the time of death. A maximum of ₹7 lakhs in benefits will be provided.

Extended Goals:

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

Documents Required for PF Registration

Any business that wishes to apply for PF needs to submit the following mandatory documents:

  • PAN card of establishment
  • Certificate of incorporation before Feb 2020
  • Cross cancelled cheque of establishment
  • Address proof that is in the name of the establishment
  • Rent agreement (with landlord owner details like PAN and Aadhaar copy)
  • Water
  • Electricity
  • Telephone bill
  • GST certificate
  • Specimen signature of directors and authorised signatories
  • Digital signature of the authorised applicant
  • In case of voluntary registration, consent of the majority of employees
  • List of directors
  • Directors Aadhaar and PAN card copy.

In some entities the underlying may also be needed:

  • First sale bill
  • First purchase bill of raw material and machinery
  • GST registration certificate
  • Bankers details
  • Record of a monthly employee strength
  • Register of salary and wages.

You just need to collect the mandatory documents and send a copy of each document to us. The rest will be handled by the efficient team at Vakilsearch. From filing the form to verification processes and legal formalities, we handle it all!

Online EPF Registration Procedure for Employers

  • Step 1: Visit the Shram Suvidha Portal
  • Step 2: Sign up for establishment registration
  • Step 3: Login for PF registration after you've completed the signup process
  • Step 4: Enter employee data and upload relevant documents
  • Step 5: Fill application with all the employer details
  • Step 6: Register the DSC
  • Step 7: Click on the ‘submit’ button to submit the verified form
  • Step 8: Get PF registration certificate & universal account number [UAN].

Our expert will be your advisors and consultants for PF online registration and help you get the PF number in 5 to 10 business days (not factoring processing time). On the very first consultation, which is free of any charge, you will get the gist of our PF process. When we work on your behalf, we ensure that the PF application is submitted for the organisation in the prescribed format without any errors. We pledge easy working at the most economical prices.

The EPFO members will be able to keep a tab of their UAN status using online methods. All you need to do is to provide the EPF number and select your state. You will automatically get the UAN status.

All the individuals will have to activate their UAN if they need access to all the direct/online facilities given by the employee provident fund.

Why Vakilsearch?

The provident fund can be a great support, safety and assurance for employees as it offers a sense of financial security to the employees. It is regulated by the EPFO, which is also one of the most well known and biggest social security organisations in India. They handle huge amounts of financial transactions on a daily basis.

The process of applying for the provident fund is also not a difficult task as long as you have a professional to help you sort things out.

  • At Vakilsearch, we guarantee that you do not have to go through the legal complexities of registering for PF
  • Once we get the required information and the documents, our experts fill the forms accurately and submit them on time
  • Our team takes the responsibility of follow-ups and delivers you the PF number at the earliest time as possible.

EPF Registration Glossary

EPF

Employee Provident Fund

Payroll Earnings

Payroll earnings are amounts paid to employees in the form of various salary components such as basic pay, house rent allowance, sales incentives, etc.

Payroll Deductions

Payroll deductions are amounts deducted from an employee's salary (or earnings) by the employer for things such as government taxes and employee benefits programs.

Fixed Pay

Fixed pay is the guaranteed salary that employees get on a monthly basis irrespective of their individual performance, team’s performance, or company’s performance.

Variable Pay

Variable pay, pay for performance, or risk pay, is the compensation, which unlike fixed pay, must be earned every time to be obtained.

Cost to Company (CTC)

Cost to company (CTC) is the total cost of monetary & non-monetary benefits that an employer incurs on an employee during one year.

Allowance

Allowance is the fixed amount paid to employees, in addition to basic salary, for covering expenses of activities such as travelling to the workplace, renting a house, or eating food.

Basic Salary

Basic salary or basic pay, is the first and core component of your salary structure and a lot of other salary components such as HRA, provident fund, gratuity, ESIC, etc. are calculated as % of basic pay.

HRA

House rent allowance (HRA) is the amount paid by an employer to an employee for renting his/her home, as part of the salary.

Medical Reimbursement

Medical reimbursement is the amount paid in form of monthly salary by an employer to an employee, for medical expenditure incurred by the employee as well as his/her family members.

Conveyance Allowance

Conveyance allowance or transport allowance, is an allowance offered by employers to employees to compensate for the cost of travelling from residence to office and vice versa.

Dearness Allowance (DA)

Dearness allowance (DA) is paid to government employees and pensioners in India & Bangladesh to counter the impact of inflation.

Incentive Pay

Incentive pay is the extra payment given to employees for achieving pre-defined goals or targets and is directly linked to an employee's individual performance on the job.

Gross Salary

Gross salary is the total salary that a company actually pays to an employee, before any deductions.

Paid Leave

Paid leaves are the type of leaves from work during which you receive your normal salary.

Leave Encashment

Leave encashment means receiving cash from the employer for unused leaves.

Payroll Cycle

Payroll cycle, payroll period, payroll schedule, payroll calendar, or pay cycle, is the frequency & schedule by which companies pay their employees and run payroll.

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