PF Registration
PF Registration is applicable for all organization which employs 20 or more employees.
An important tool for aiding the savings of the workforce is EPF or Employees Provident Fund. EPFO or Employees Provident Fund Organization of India manages the Provident Funds of the employees under Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Once an establishment employs 20 or more people, it becomes mandatory for the organization to obtain a PF Registration. The total contribution to the PF fund is 12% of basic salary plus DA plus retaining allowance by employee and employer both.
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Advantages of PF Registration
Statutory Guidelines adherence – PF Registration helps businesses adhere to statutory guidelines since it is mandatory for businesses with over 20 employees.
Employee savings – It aids savings for employees by maintaining a regular fund contribution from both employer and employees.
Fund availability – Contributions to Provident fund can be withdrawn by employees in their time of need such as medical emergency, marriage expenses, education, etc.
Tax benefits – The interest earned on the Provident fund savings are tax-free and the contributions to the fund are deductible from salary.
High safety – The PF amount is safe and secure from any market variations and employees are assured a return on their principal amount.
Documents required for PF Registration
Copy of PAN/ COI.
Address Proof of the Premises.
Identity and address Proof of the Directors/Partners/Proprietor.
Details of the resident and all members with address and contact details in case of society/Trust.
Partnership Deed/LLP Agreement/MOA & AOA.
Details of employees, details of nominees, details of salary.
Cancelled Bank Account cheque.
For Individual Identity proof:
Passport; or
Aadhar card; or
Voter ID; or
Driving license
For Individual address proof:
Self-attested copy of Telephone/Mobile or Electricity bill; or
Bank Account Statement (Less than 2 months old)
For Proprietorship/Partnership/LLP/ Company Address proof:
Telephone/Mobile/Electricity/Gas bill (Less than 2 months old); AND
In case of rented premises a notarized copy of Rent Agreement with a No-Objection Certificate (NOC) for conducting business;
In the case of self-owned premises registered title document.