The purpose of Employee Provident Fund (EPF)
is to provide the social benefits to employees. EPF is regulated by the
Employees' Provident Fund Organization. This EPF scheme is defined under the
Employees' Provident Funds and Miscellaneous Provision Act, 1952. If the
strength of Employees in an organization is more than 20, then it is mandatory
for an organization to acquire EIN No. You can also opt for voluntary EPF
registration even if the strength of your organization is less than 20.
Further,
we will discuss the process of EPF registration, list of documents required for
the registration and few facts regarding it.
What is the procedure of EPF registration?
Let's take a look at the steps to be followed
for the EPF registration-
STEP1: EPFO
Registration
The first step is to visit the website of EPF
registration, where you need to click on the option "Establishment
Registration" on the unified portal
STEP2: Do
read User Manual
Before you register, it is recommended to
download and read the instruction manual. You will get the Instruction manual
by clicking on the link establishment registration.
STEP3: DSC
Registration
For EPF registration, DSC registration has to
be done in prior. If you are already registered, then you just need to put in
your credentials such as Universal Account Number (UAN) and password.
STEP4:
Filling the Employers' Details
Once you are done reading the Instruction
manual, you just need to click on the register button. This will make you land
on the next page, where you will be asked to provide the Employers' details.
Please make sure to fill the details correctly.
List
of Documents required for the EPF registration
There is a list of documents that need to be
submitted at the time of EPF Registration.
The List of Documents includes-
·
Copy of PAN
Card of firm/ Company/ Society/ Trust
·
Copy of
cancelled cheque
·
Partnership
Deed, if you have a partnership firm
·
Certificate
of Registration, if you have a proprietorship/ partnership/ Company/ LLP
·
Certificate
of Incorporation, if you have a company/ society/ trust/ NGO
·
Copy of PAN
cards of Directors/ Partner
·
Copy of
Aadhar Card/ Voter Identity card of Director
Few
Facts Regarding the Employee Provident Fund
1.
For
Employees' Provident Fund, the contribution from both employee and employer is
12% each.
2.
It is
mandatory for the people employed in the factories or establishments to
contribute towards the Employment Provident Funds, irrespective of the wages
and type of employment you are engaged in.
3.
Following
are the employees who are not counted for coverage of a factory-
·
A proprietor
or a partner
·
A contractor
lending the services of his employee
·
An
apprentice engaged under the Apprentice Act, 1961
·
Persons
employed on contract for professional service legal, technical, tax
consultants.
Hope, you have a basic understanding of EPF
registration in India by now. For EPF registration or any information regarding
this, please contact Enterslice.