EPF Registration
The Employees’ Provident Fund and Miscellaneous Provisions Act 1952 applies to the Factories engaged in Industries specified in Schedule I of the Act or to other establishments notified and engaging 20 or more employees. To facilitate easy compliance by the Big Industries, Micro, Small and Medium Enterprises (MSME), other Establishments EPFO has provided online facilities starting from the registration of the Establishments, filing of monthly returns integrated with online payment of the contributions and charges.
EPF Registration Benefit
- Tax Benefits under section 80C
- Insurance Benefits Under the Employees Deposit Linked Insurance (EDLI) Scheme.
- Under the Employees’ Pension Scheme,1995, ten years of contributory membership provides a lifetime pension.
- The withdrawal of money from the provident fund allows its members to make a partial withdrawal after five to ten years to meet particular needs, including home loan repayment, medical expenses, and unemployment.
- As per the revised scheme, the benefits will be 20 times the deposits or wages made in the employees’ provident funds, whichever is less. Further, as the wages ceiling increased to Rs 15,000 from Rs 6,500, the maximum benefit amount will be Rs 3 lakh, and an extra benefit amount of 20% is also paid.
Eligibility for EPF Registration
- Establishment that is employing 20 or more employees during any time in the previous year
- Factory engaged in any industry having 20 or more employees during any time of the year.
- Central Government, after giving two months’ notice to the certain establishment for compulsory registration irrespective of their employees. Such an establishment shall get themselves registered immediately upon the receipt of the notice.
Document Required for EPF Registration
- PAN of company/ organization/ establishment
- Address proof of the company/ organization/ establishment.
- Certificate of Incorporation.
- Cancelled cheque.
- Specimen comprising signature of directors and authorized signatory.
- In the case of voluntary registration, you are required to submit the consent of the majority of employees.
- You are required to submit the digital signature of an authorized candidate.
- Document proving the date of establishment of the organization.
- In the case of a factory, you must submit the factory license number and date of trial production. Also, you are required to submit the details of the manager.
- Details of employment including information of date of application, excluded employees, and date on which the number of employees increases above 19.
- If the establishment has any branch, you must submit the details of the branches along with information regarding their address and number of employees.
