Employee Provident Fund (EPF) ensures future security by saving a portion of salaries. EPF registration, mandated for companies with 20+ employees, is facilitated online. True Auditor simplifies the process in three steps, aiding employers and employees alike. With expert assistance and streamlined procedures, True Auditor remains the go-to for seamless EPF registration.
Overview
Employee 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 online or Employees Provident Fund which is akin to a retirement fund. PF registration online comes under the purview of the Employees Provident Funds and Miscellaneous Provisions Act, 1952. EPF registration process is mandatory for organizations with total employee strength more than 20. Such employers can opt for online PF registration from True Auditor.
Companies Can Get Employee Pf Registration, In 3 Easy Steps:
- Free consultation and form filling
- Connect with a dedicated affiliate for data validation
- Receipt of PF online number
What Is The Meaning Of Employee Under Employee Provident Fund?
According to section 2(f) of the Employees Provident Funds & Miscellaneous Provisions Act, 1952, a person who performs any task with the intention of obtaining compensation is considered an employee. This would also apply to everyone who is regarded as a worker and receives compensation, either directly or indirectly.
Below Is A List Of Those Who Are Regarded As Employees:
- Full-Time Workers
Any person with a history of consistent employment with the organisation qualifies as a full-time employee. Depending on the relationship that already exists between the employer and the employee, this will be decided. The appointment letter may be taken into account while confirming the employment guarantee.
- Part-Time Workers
Any worker who does part-time labour for any establishment is categorised as a part-time worker and must register with the EPFO. Compared to a full-time employee, a part-time worker works less hours per week.
- Work-From-Home Workers
The company may also consider registering any employee who works remotely for a set amount of time for the epf registration online
- Contractors
Contractors are specific personnel hired to carry out certain projects in accordance with the needs of the organization. For organizations that hire independent contractors, pf online apply is required.
- Consultants
Consultants are people who are classified based on their level of experience. They are neither a contractor nor a part-time employee; instead, they are providing consulting services to an establishment for a set period of time.
- Freelancers
The Government of India has added those who are freelancers to be regarded under the definition of an employee in the latest revision to the Social Security Code introduced in September 2020. The services offered under the pf registration online are also available to independent contractors.
Eligibility For Provident Fund Registration For Indian Employers
In India, the Employees’ Provident Fund (EPF) is the main way for employees to save for retirement. It’s run by the Employees’ Provident Fund Organisation (EPFO). The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, sets out who can join:
- For Employers
Provident Fund (PF) registration is mandatory for all businesses or organisations that employ 20 or more people.
If a business or organisation employs at most 20 people, it may still need to register for PF if specified by a central government notification.
- For Employees
Employees who earn less than ₹15,000 per month must join the EPF and make regular contributions.
Employees who earn more than ₹15,000 per month at the time of joining are not required to make PF contributions. Yet, they can still opt to join the EPF and make contributions with the agreement of the employer and the Assistant PF Commissioner.
What Details Do I Need To Give For PF Registration?
- Name & address of your company
- Head office & branch details
- Date of company incorporation
- Total employee strength
- Type of business activity
- Nature of business
- Director/partners’ details
- Employee’s Basic details
- Employees’ salary details
- Bank account details of the company
- PAN card.
Documents Required For PF Registration Online
Any business that wishes to apply for PF registration online 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. It can be:
- Rent agreement
- Water
- Electricity
- Telephone bill
- Specimen signature of directors and authorised signatories
- DSC registration of the authorised 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
You just need to collect the mandatory documents and send a copy of each document to us. The rest will be handled by the efficient team at True Auditor. From filing the form to verification processes and legal formalities, we handle it all!
UAN (Universal Account Number) – EPF Registration
The organisation updates the KYC documents of its personnel once it has registered in the EPFO portal by creating a Universal Account Number (UAN). Each employee’s UAN number can be used to transfer PF money electronically to a bank account, claim PF benefits, and other things. The following process must be used to activate UAN as the only mandatory step for an employee to take:
Why True Auditor For PF Online Apply?
True Auditor continues to be the preferred choice for PF registration due to its unmatched expertise and comprehensive services. With its up-to-date knowledge and streamlined processes, True Auditor ensures a seamless experience for businesses looking for pf online apply.
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