Facing delays in EPF registration and afraid of making mistakes? Our experts ensure flawless and cost-effective employee provident fund registration.
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For those who are working as an employee in an organization, the Employee Provident Fund (EPF) is a specialist fund that offers retirement and related benefits.
Under The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, organizations that meet certain requirements—including all workers receiving fixed wages—must register for EPF. To avoid fines, employers must proceed with EPF registration within a month of recruiting more than 20 workers.
Every employee receives an EPF number and a Universal Account Number (UAN), which are unaffected by changes in employment. Section 2(3) of the Act applies to all establishments in India. EPF registration in India is mandatory for employers with 20+ employees.
Get employees provident fund organization registration along with easy epfo signup through our experts and streamline your company pf registration journey.
The term “EPF” stands for Employee Provident Fund, a retirement savings plan popular in nations like India and Malaysia in which both the company and the employee contribute.
The Employee Provident Fund Ordinance, which was later transformed into the Employees’ Provident Funds & Miscellaneous Provisions Act, of 1952, which applied to all states, was how the Indian government founded the EPF in 1951.
Maintaining a strong relationship between employer and employee is the fund’s primary goal. EPF provides EPS, risk coverage, and a uniform account to meet emergency needs and long-term goals. Businesses need to register with EPFO.
According to section 2(f) of the Employees Provident Funds & Miscellaneous Provisions Act, 1952, an employee includes any form of individual who is carrying out any work with the objective of securing some form of wages. This would also include individuals who are considered as any worker getting some proportion of the wages either indirectly or directly.
The individuals who are considered as an employee under the employee provident fund registration are given below:
Full-time employees include any individual who has some permanent history of employment with the company. This would be decided on the basis of relationship which is existing between the Company and the worker. The appointment letter can be considered for verifying the employment provision.
Any employee who is working on a part-time basis for any establishment would be classified as a part-time employee and be registered under the EPFO. A part-time employee has lesser work hours in comparison with the full-time employee.
Any employee who is working from home for a fixed time period can also be considered for the employee provident fund registration by the organization.
Contractors are particular individuals appointed for carrying out particular projects according to the requirement of the business. EPF registration is necessary for establishments that recruit contractors.
Consultants are individuals as defined according to their experience. They are giving consulting-based services for a fixed time to an establishment and are neither contractor nor any part-time employee. They are considered as an employee under the pf employee registration.
In the recent amendment to the Social Security Code introduced in September 2020, the Government of India has included individuals who are freelancers in the definition of an employee. Freelancers can also use the services provided by the employee provident fund registration.
Certain rules and regulations are made by the government of India that determine the applicability of EPF Registration for employers and employees. These are the following applicability criteria of EPF Registration in India –
To get expert advice and consultation on employees provident fund organisation registration and meet the compliance requirements, talk to our seasoned professionals.
The employers need to maintain certain mandatory requirements for EPF Registration. These mandates are as follows –
Certain individuals are there who cannot be eligible to get benefits out of the PF scheme in India as per the Act. These individuals are listed below –
Provident Fund to employees is an extra benefit that they accrue while they are an employee in any organization. However, certain other benefits are also there that the employees receive but are excluded from the PF and the laws governing it. These benefits are as follows –
The employees and the employers both get certain benefits from EPF Registration with the authorities. These benefits are listed below –
EPF reduces the risk that is associated with the employees at the time of hardship. The provident fund acts as an emergency fund that the employees can utilize at the time of dire need by accessing their portal online. This ensures that they do not have to lend money from outside sources leading to many disputes and extended liabilities.
There is one provident fund account for the employee throughout the lifetime. It is a unique number given only to one employee that can be accessed throughout the country by that employee.
Even if the employee switches jobs or moves to another location, he/she will have the same PF number in the new organization as well. The portal is accessible through the number anywhere in the country, which makes it easy to handle.
Providing provident funds to the employees makes them satisfied with the job and strengthens their chance of retention for a longer duration. Even hiring new employees becomes easy since they see PF as an additional benefit and consider these things before joining any organization. Hence, organizations having such registration get these benefits in hiring competent employees.
The PFs received from the employer can be utilized as retirement savings. These funds cannot be taken out fully unless 5 years of employment have been passed. This helps employees at the time after retirement so that their time is not tough post-retirement.
Providing PF to the employees creates a good market reputation in the market among the employees seeking job opportunities. These are extra benefits apart from the designated salaries that the employees consider before joining any organization.
This scheme makes all the employees eligible to receive some kind of insurance benefits while working in an organization. The benefit of 0.5% is directly made to the accounts of the employees. But, to avail them the employees need to sign up for the scheme.
Some part of the salary is deducted and transferred to the pension account of the employees to secure their future. As per the EPF provisions, an amount equivalent to 12% of the salary is deducted from the employees out of which 8.33% is directly transferred to their pension accounts. These savings can be considered fruitful for old age after the employee has quit working.
Once the establishment is registered in the EPFO portal, it updates the KYC paperwork of its employees by generating a Universal Account Number (UAN). Every employee can use their UAN number to claim PF fund, transfer of PF fund online to the bank account, etc. The only necessary step that an employee has to follow is to activate UAN through the following procedure:
For advisory and consulting support pertaining to EPF registration UAN, book an appointment with our experts.
The most important part before the application for EPF Registration is completing the documentation procedure. The documents required for employees provident fund new registration are as follows –
Have a look at some of the optional documents for employee pf registration-
There is a desired Employee PF Registration process for employers as per the government rules and regulations. The well-defined employee provident fund registration process is as follows –
Firstly, you need to visit the official EPFO website and hit the establishment registration button present on the home page.
After clicking on the establishment registration button, Unified Shram Suvidha Portal (USSP) sign up page will appear on the screen. Then, you need to Click the sign up button.
Once the account is created on the USSP, you need to log in. After that, opt for the registration for the EPFO-ESIC button. Thereafter, hit the Apply for new registration button.
You will have two options- the Employees Provident Fund and Miscellaneous Provision Act, 1952 and the Employees State Insurance Act, 1948. Select the first option and click the submit button.
The registration form for EPFO will open. You need to fill in all sections of the form.
After that, you need to attach the digital signature certificate by clicking on the digital signature button present on the next page.
After uploading the DSC, you will get a successful completion message. Further, you will get an email from USSP with a confirmation that EPFO registration is successfully completed.
We hope you’ve got a fair overview of the employee PF Registration process for employers. To avoid silly mistakes and save your time, reach out to our experts.
The penalties imposed on the employer for not registering with the EPFO are as follows –
As soon as the organization is registered with the EPFO and gets the certificate of employees provident fund new registration, the entity is not required to apply for the registration certificate again. As long as the entity is in business, the EPF registration certificate is valid.
There is no need to renew the registration certificate as it comes with a lifetime validity. However, if the entity has not followed any compliance, then its registration certificate might be cancelled.
It requires around 10 – 15 days for the entities to obtain the EPF Registration certificate from the EPFO. The entity must apply for the same within one month of attaining the minimum strength of 20 employees to avoid penalties and fines. This time includes all the documentation and the filling of the application form with the EPFO.
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