Employees Provident Fund, 1952 governs the Employees Provident Fund (EPF). Employees Provident Fund Organization regulates it (EPFO). PF registration is required for any business that employs 20 or more people. PF registration is also available voluntarily for companies with fewer than 20 employees
The employer filing a PF return procedure must follow the Unified Portal for PF Filing's guidelines. Any employer who participates in the Employees Provident Fund System must consider filing the returns on time.
The employer uses this form for a flagship scheme under the Employee Family Scheme, which the employee uses. To complete the preceding, Form 2 must be filed with Form 5. According to the rules, parts A and B must be filed in this section.
This is a monthly compliance and report that must be submitted—any employee who has recently enlisted in the provident fund systems.
This form would include any individual or employee who is not a member of the organization.
This must be filed by April 30th of each year and submitted Form 3A and Form 6A.
In addition, the EPFO is required to furnish the annual account statement for the filings.
Every month, all entities with PF registration must file a PF return. The PF return is due on the 25th of each month. A final PF return is also scheduled on April 25th for the fiscal year concluded on March 31st.
Payments to the Provident Fund (PF) are due on the 15th of each month. Every month, on or before this day, the employer must deposit a total of 12 % or 10% of the employee's earnings into PF. The PF rate of 12 percent would be appropriate for most businesses.
It stands for Universal Account Number. It is a 12- digit number assign to each employee contributing to EPF. This number is allotted by EPFO. For both employers and employees, the Employee Provident Fund has created the Unified Portal to streamline and simplify all parts of the provident fund. Employees with a new UAN can use the Unified Portal to access various services.
TaxDraw is an excellent business platform and a forward-thinking concept that assists clients in India and worldwide with end-to-end incorporation, compliance, advice, and management consultancy services. With TaxDraw, filing PF returns is simple, easy, less expensive, and faster. TaxDraw also makes it simple to file Income Tax Returns, TDS Returns, GST Returns, and ESI Returns, in addition to PF returns.
If the returns are not filed for a length of time after registration, the department may issue a notice or summons to the relevant employer for noncompliance.
After the dues are paid, PF members will get full interest for each due month, with no effect on the interest due on contributions paid.
The EPF returns are based on the UAN, which means that the employer must first register the employees with the EPFO through the employer portal to get the UAN or member id. We will feed the employees' information.
No, the employee can’t edit his personal details like name, date of joining, etc. as given in the EPFO database.