Rapport HR Takes Care of Your EPF

MyTaxAdviser is India's one of the leading tax consultant and financial services company.

Our services are GST registration, Section 8 company, EPF & ESI registration, Income tax return and more.

Our Professional use their expert knowledge and experience to help many small businesses succeed through improving business practices and profits in areas they might not have considered.

In this, employer and employee both contribute a certain percentage of employee’s salary and employee gets lump sum amount of both contribution (employer and employee) at retirement along with interest.EPF RegistrationAll Organizations, whether Government or Non-Government can obtain EPF Registration.

EPF Registration online is mandatory for the organization/ establishments as follow:-If it is a factory or any organization or establishment engaged in any industry having 20 or more employees.Class of establishments which is notified by central government.Registration must be obtain within 1 month of employing more than 20 employees.

If Central Government make it compulsory for class of establishments then it will provide a not less than two month notice to register at EPF.Employer or majority of employees can themselves apply to Central PF Commissioner for register under EPF provision.

The Central PF Commissioner will pass notification in the Official Gazette and the provision will be apply to such establishment from the date of such agreement or any subsequent date as agreed.Documents Required by Other Entities:-First sale and Purchase BillGST Registration CertificateBank detailsSalary details of employeesBalance sheet detailsAll legal documents which might be required under the Income tax act.Fill up details of employees – total employee strength, Gender, Type of Activities, Wages above limit, Total Wages.The type of the business undertaken by the organizationLegal details – This includes the legal status of a companyMention date of incorporation/registration of the company and Partition deed, if any.In case of factory then factory license, date of license, place of issue.If the establishment is an MSME then MSME registration details to be provided.Email id, phone numbers of employees.Branch and Divisions details.Steps for EPF RegistrationStep 1: Visit the site of “EPFO”, Employee Provident Fund Organization and click on “Establishment Registration”.Step 2: Next you can take help of “INSTRUCTION MANUAL” available on the page.

Or Click on the “Sign-up” button.Step 3: Fill in the details asked like Name, Email, Mobile Number, and Verification Code.

Further click on the option of “Registration for EPIO-ESIC”.

Employment Provident Fund is created with an intention to help private sector employees to save a fraction of their monthly salary.

And this savings will be helpful for the employees in the event of employee’s termination or if the employee is no longer fit to work or after their retirement.

Apart from these, you also need to provide the KYC details including:

For instance, if the monthly salary is Rs 20,000, the contribution from employee towards his or her EPF would be Rs 2,600/month i.e.

To withdraw money from EPF account, employees can now make use of UAN based Form 19.

This facility is available to all those employers whose UAN is activated and verified with KYC details including Aadhar card number, and bank account number.

https://www.justwebworld.com/employment-provident-fund/