PF Registration

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Online PF Registration - An Overview

Employees’ Provident Fund is a social security scheme that helps employees save a small portion of their salary for future benefits.

Every company has to offer its employees an EPF or Employees Provident Fund which is akin to a retirement fund. EPF comes under the purview of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. EPF registration is mandatory for organizations with total employee strength more than 20. Such employers can opt for online PF registration from YourProfit.In. Companies can register for employee provident fund, in 3 easy steps:

  • Free consultation and form filling
  • Connect with a dedicated affiliate for data validation
  • Receipt of PF number

Benefits of PF Registration Online

Pension Coverage

Besides the contribution of the employee to EPF, the employer adds an equal amount which is inclusive of Employee Pension Scheme (EPS). Therefore, EPF saves you a robust pension.

Emergency Fund

Emergencies are bound to happen at any point of time in life. EPF amount can be of great help during mishaps, illnesses, weddings and educational expenses. Employee can make claims online.

Cover of Risk

In case of instances like illness, demise or retirement, Provident Fund helps the dependents of the employee by covering the financial risks they face in such situations.

Extended Goals

The PF account can be extremely helpful for long-term goals like buying a property or setting up a fund for children.

One EPF Account

The PF account can be transferred while switching jobs. Universal Account Number(UAN) linked to the Aadhar will start to facilitate the linking of the previous accounts.

Employee Deposit Linked Insurance Scheme

Any person who has PF account is eligible for this insurance scheme that requires only 0.5 % of the salary deduction as premium.

Documents Required for PF Registration

Any business that wishes to apply for PF needs to submit the following mandatory documents:

  • PAN card of establishment
  • Certificate of incorporation
  • Cross cancelled cheque of establishment
  • Address proof that is in the name of the establishment.
  • Water bill
  • Electricity bill
  • Telephone bill
  • Specimen signature of directors and authorized signatories
  • Digital signature of the authorized applicant
  • In case of voluntary registration, consent of the majority of employees

 

In some entities the underlying may also be needed:

  • First sale bill
  • First purchase bill of raw material and machinery
  • GST Registration Certificate
  • Bankers details
  • Record of a monthly employee strength
  • Register of salary and wages

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