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PF Registration - For Employers
Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of the Employees’ Provident Fund Organisation (EPFO). PF registration is applicable for all establishment which employs 20 or more persons. PF registration can also be obtained voluntarily by establishments having less than 20 employees.
The PF contribution paid by the employer is 12% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In the case of establishments that engage less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and employer is restricted to 10%. For most employees working in the private sector, it’s the basic salary on which the contribution is calculated.
It is obligatory that employees drawing less than Rs 15,000 per month become members of the EPF. As per the guidelines in EPF, an employee, whose ‘basic pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer.
Important aspects of PF Registration
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- 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
Society / Trust
- In the case of Society, Trust, etc, registration of the organization needs to be done with the 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 the president and all members with their complete address and telephone number.
- PAN card of society/trust
For Partnership Firms / LLP / Company
- Name of the partnership firm or LLP or Company
- Certificate of Registration Firms in case of a 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.
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 the current date of provisional coverage.
- Date of joining of employees, father’s name, and date of birth.
- Salary and PF Statement.
- Cross cancelled cheque.