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PF Registration - For Employers

PF Registration - For Employers

Employee State Insurance is a self-financing social security scheme and health insurance plan for Indian workers, offering medical and disablement benefits. Governed by the ESI Act, 1948, it is managed by Employees’ State Insurance Corporation (ESIC) under the Ministry of Labour and Employment. ESIC is expected to manage the fund as per the rules and regulations set forth by the Act.

The PF contribution paid by the employer is 6% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In the case of establishments which engage less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. For most employees working in the private sector, it’s the basic salary on which the contribution is calculated.

It is obligatory that employees’ drawing less than Rs 15,000 per month, to become members of the EPF. As per the guidelines in EPF, employee, whose ‘basic pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer.

Documents Required for PF Registration

Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of Employees’ Provident Fund Organisation (EPFO). PF registration is applicable for all establishments which employ 20 or more persons, subject to certain conditions and exemptions.

Applicability of PF Registration

PF registration is mandatory for all establishments with 20 or more persons. Some establishments having less than 20 employees would also be required to obtain PF registration. All employees become eligible for a PF right from the commencement of employment and the onus of deduction & payment of PF is with the employer. The 12% rate of PF contribution should be equally divided between the employee and employer. If the establishment houses less than 20 employees, the rate for PF deduction is 10%.

Documents Required or PF Registration

Based on the type of entity seeking PF registration, the list of documents required for PF registration would vary as under:

For Proprietorships.
1. Name of the applicant.
2. Pan card of a proprietor.
3. Id proof of the proprietor like Driving license/Passport/Election Card.
4. Address proof of proprietor.
5. Address proof for the premises.
6. Complete details of the applicant with their residential address and telephone number.

For Partnership Firms / LLP / Company
1. Name of the partnership firm or LLP or Company.
2. Certificate of Registration Firms in case of Partnership firm. Incorporation Certificate in case of LLP or Company.
3. Partnership deed in case of partnership firms or LLP.
4. Id proof of Partners –Pan card /Election Card / Passport/Driving license in case of Partnership Firm or LLP. ID proof of Directors in case of company.
5. List of all partners with telephone number and address proof of all partners in case of Partnership Firm or LLP. List of all Directors with contact details in case of Company.

Society/Trust
1. In the case of Society, Trust etc, Registration of the organization needs to be done with concerned authority.
2. Certificate of incorporation of society/trust.
3. Moa and Bye-Laws of society and trust.
4. Id proof of president and all members of society.
5. Complete details of a president and all members with their complete address and telephone number.
6. Pan card of society/trust.
Common Documents Required for All Entities
1. First sale bill.
2. First purchase bill of raw material and machinery.
3. GST Registration Certificate, if registered under GST.
4. Name of the bankers, address of the bank.
5. Record of a monthly strength of the number of employees.
6. Register of salary and wages, all vouchers, all balance sheets from day one to the current date of provisional coverage.
7. Date of joining of employees, fathers name and date of birth.
8. Salary and PF Statement.
9. Cross cancelled cheque.

How DP Accounting and Taxation Service will help you in PF Registration?

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