PF Registration Online

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 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 ANBIFM

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 the PF Registration Online?

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:

Any person with a history of consistent employment with the Organization 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.

Any worker who does part-time Labour for any establishment is categorized 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.

The company may also consider registering any employee who works remotely for a set amount of time for the EPF registration online.

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 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.

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.

Benefits of EPF Registration online

 Pension Coverage

Single Account/one EPF Account

Emergency Fund

Employee Deposit Linked Insurance Scheme

Extended Goals

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

Checking the EPF balance

The members who are registered under the UAN portal can get the details which are available at the Employee Provident Fund Organization (EPFO) by just giving a missed call to 011-22901406 from their registered mobile number. If the member’s UAN is linked with the bank’s account number, PAN card or Aadhar number, then the member can easily get the PF registration online application and previous contribution details Activated members of the UAN can get to know their previous EPFO balance and PF contribution by sending an SMS to 7738299899 from their registered mobile.

• Step 1: Employees can visit the official EPFO website at https://unifiedportal-mem.epfindia.gov.in/memberinterface to activate their UAN online
• Step 2: Fill up all the required fields, including UAN, Member ID, Aadhar number, PAN number, etc
• Step 3: Next, enter your information (name, address, and phone number) and complete the form by typing the captcha that appears on the screen
• Step 4: The employee will receive an OTP on his mobile device after filling up these credentials
• Step 5: Validate the OTP and activate the UAN.

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 Organization (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 organizations that employ 20 or more people.
• If a business or organization employs at most 20 people, it may still need to register for PF if specified by a central government notification.

• 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 authorized signatories
• DSC registration 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. 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 ANBIFM . From filing the form to verification processes and legal formalities, we handle it all!

UAN (Universal Account Number) – EPF Registration

The organization 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:

How to Apply PF Online?

The PF Registration online can be a great support, safety and assurance for employees as it offers a sense of financial security to the employees. It is regulated by the Employees’ Provident Fund Organization (EPFO), which is also one of the most well known and biggest Social Security Organisation in India. They handle huge amounts of financial transactions on a daily basis. The process of pf online apply is also not a difficult task as long as you have a professional to help you sort things out. At ANBIFM, we guarantee that you do not have to go through the legal complexities of EPF Registration online . Once we get the required information and the documents, our experts fill the forms accurately and submit them on time. Our team takes the responsibility of follow-ups and delivers you the PF number at the earliest time as possible.

What Are the New Rules for PF Withdrawal?

The Employees’ Provident Fund Organization (EPFO) has revised the rules for PF withdrawal in 2022. The new rules allow for early withdrawal of PF funds for certain purposes, such as:

• Medical treatment: You can withdraw up to 75% of your PF balance for medical treatment of yourself, your spouse, your children, or your parents.
• Paid education: You can withdraw up to 50% of your PF balance for the education of your children or yourself.
• House purchase: You can withdraw up to 90% of your PF balance for the purchase of a house.
• Housing loan repayment: You can withdraw up to 20% of your PF balance for the repayment of a housing loan.
• Pension Scheme 1995: You can withdraw up to 60% of your PF balance if you are a member of the Pension Scheme 1995 and have attained the age of 58 years.

How to Merge PF Accounts?

• Step 1: Login into EPFO member portal, Enter the UAN Number, Password and Captcha code > Click on ‘Sign in’
• Step 2: To merge PF accounts, go to the Service History page, select the employee’s employment details, and make sure the previous employer’s ‘DOE EPF’ is updated. Then click ‘View ‘ and ’ History’ to access the table and merge the accounts
• Step 3: Before navigating, Copy Member Id. Choose the One Member-One EPF Account option under Online Services to combine with your existing employer.
• Step 4: Choose ‘Present Employer’ in Attestation. Paste previous Employer’s Member ID in ‘Get Details’ as previous employer may not offer immediate help.
• Step 5: EPFO portal displays results > select checkbox, trigger OTP > enter OTP > submit for PF transfer request to present employer.
• Step 6: To track PF transfer request > click ‘Online Services’ and ‘Track Claim Status’. To merge PF accounts, wait for the Field Officer to validate the transfer request and approve it.

How Many Times We Can Withdraw PF Advance?

The purpose of India’s PF, or Provident Fund, savings programme is to give workers financial security after they retire or quit their jobs. The programme is administered by the Workers’ Provident Fund Organization (EPFO), a statutory organization under the Ministry of Labour and Employment. While the PF’s principal function is to act as a long-term savings vehicle, members may withdraw money from their accounts over the course of their employment for specified purposes. Some explanations include sickness, home purchases, educational expenses, or marriage. Up to three withdrawals from a member’s PF account are permitted during the course of their employment, but each withdrawal must occur at least five years after the prior one. As a result, a member is only permitted to withdraw money from their PF account once every five years.

PF Withdrawal Rules After Resignation

The Employees’ Provident Fund Organization(EPFO) establishes the processes for withdrawals from the provident fund after resignation. According to the rules, employees who have been unemployed for two months or more are allowed to withdraw the entire balance in their PF account. This indicates that an individual who quits their job may withdraw the entire balance in their PF account two months after their last day of employment. Before an employee can take the whole amount from their PF account, a number of limits and requirements must be satisfied. The employee must have worked for the current organization for a minimum of five years, which is one of the most important conditions. If the employee has not yet worked for five years, they are only permitted to take the money they deposited to the PF account, interest-free.

The Breakup of the PF Contribution

• The 12% contribution is divided into the following categories
• 3.67% of the contribution to the Workers’ Pension Fund
• 1.1% of the payment is allocated to administrative costs for the EPF
• 0.5% of the employee’s deposit-linked insurance contribution.
• Contribution to the EDLI administration costs of 0.01%
• For the Workers Pension Program, 8.33%.

EPF Registration Online Process for Employers

• Collect relevant employee data and documents
• Establishment Registered with EPFO online Registration
• Register DSC (digital signature certificate) of the employer
• Fill the application with all employer details
• Submit verified form
• Get PF registration certificate & Universal Account Number [UAN]

Our expert will be your advisors and consultants for EPF registration online and help get the PF number in 5 to 10 business days (not factoring processing time). On the very first consultation, which is free of any charge, you will get the gist of our PF registration process. When we work on your behalf, we ensure that the PF registration application is submitted for the organisation in the prescribed format without any errors. We pledge easy working at the most economical prices.

The EPFO members will be able to keep a tab of their UAN status using online methods. All you need to do is to provide the EPF number and select your state. You will automatically get the UAN status. All the individuals will have to activate their UAN if they need access to all the direct/online facilities given by the Employee Provident Fund.

What Is the PF Number Format?

The first two letters of the PF account number are the region code, the following three letters are the office code, the next seven digits are the establishment registration code, the next three zeroes are the establishment extension, and the final seven digits are the PF member id of the employee. So, PF account number is a 22 digit number.

Mandatory Compliances – PF Registration

• Once the establishment has registered with EPFO, it must follow certain lawful requirements on a monthly or annual basis
• Monthly returns are submitted electronically by uploading the ECR sheet using the establishment login
• Online returns are submitted by the 15th of the following month
• Every employee registered with the establishment during the month for which the return is filed is listed by name and UAN on the ECR sheet, which is available for download through EPFO in an XML format
• A file must be created from an XML sheet before it can be uploaded for return filing
• By adding online payment gateways, finish filling the return.

Contribution Rate – EPF Registration

Rate of contribution is the amount of contribution varies according to how many employees are working in the establishment:

• For establishment employing personnel aged 20 or over:
  A maximum of 12% of the employee’s salary (basic wages plus overtime pay) may be contributed by both the employer and the employee of such an establishment.
• For establishments hiring less than 20 workers:
  These establishments shall contribute at the rate of 10% of the employee’s basic salary, up to a maximum of 12%
• A business with up to 10 employees that registers voluntarily with EPFO
• Any business that lost money the previous year
• Other businesses, including a brick factory, a jute plant, a beedi factory, etc.

Who are all Exempted from the Registration Under EPF Scheme?

Any business or establishment with fewer than twenty employees is exempt from the EPF Act’s requirement that they register. Such businesses can still register under the EPF programme if they so choose. The process will subsequently be known as voluntary provident fund registration.

How Much Penalty Is Prescribed for the Employer’s Delay?

EPF Charges

• The employee share, pension contribution, and EDLI contribution are rounded to the nearest rupee for each employee
• The employer share is defined as the sum of the employee share and the pension contribution
• The minimum monthly contribution for the EPF administration costs is ₹500, and the amount is rounded up
• The institution shall be subject to a minimum administrative fee of ₹75 if there are no members throughout the month
• A minimum payment of ₹200 is required under the EDLI administrative charges, and the monthly payment amount is rounded to the next rupee
• If the establishment doesn’t have a member during the month, a minimum administrative fee of ₹25 is due
• If the establishment is exempt from the PF system, the admin fees would be replaced by inspection fees of 0.18% (minimum ₹5)
• if the establishment qualifies for the EDLI plan exemption. Administrative fees can be replaced by inspection fees, which must be at least ₹1 @ 0.005%.

Due Date for PF Filing

Before paying the employees’ salaries, the employer must deduct the employee’s contribution. The EPFO will thereafter receive both the employer share and the employee half within 15 days of the end of each month. The PF Registration is exceptional in terms of returns from a debt instrument. A sovereign guarantees the currency, and the interest is tax-free. The PF has EEE (exempt, exempt, exempt) status since contributions are tax-deductible from income. Debt securities with such large yields and solid safety and reliability are uncommon. Hence, in order to lessen the temptation to withdraw money, it is best to relocate the PF account while changing jobs.

Why Is It Important for an Employer to Register for EPF?

The EPF registration process is crucial for employers since TDS return online is taken from employees’ salaries.

What is the Employees Pension Scheme?

An estimated ₹15,000 from the employer’s contribution, or 8.33%, goes into the workers pension plan. If the person’s basic pay is ₹15,000, ₹1250 would be channeled to the Employee Pension Plan. 8.33% of the basic pay will be routed if it is less than ₹15,000, and the remaining amount will be kept in the EPF plan. The company would reserve its portion for credit in the EPF account and give the employee their entire part at superannuation.

Why Is It Important for an Employer to Register for EPF?

Since TDS is deducted from employees’ salaries, the EPF registration process is essential for companies. They would also not be expected to handle payments until the employers had produced challans via the EPFO employer website. They must therefore go through this process. Now that this essay is coming to a conclusion, you should be familiar with the EPF registration online process. So if your institution qualifies, go ahead and check your eligibility for EPF registration and complete the process.

Important Point of Provident Fund (PF) Registration

When it comes to PF registration the following three aspects has to be followed for sure:

If an establishment has 20 or more employees, it must register with the PF department within 30 days of that milestone. This amount is independent of salary.

With the employee’s permission, the employer can also look into optional coverage for its business so that its staff members can take advantage of the provident fund.

ESIC registration is also necessary because it must be obtained when the number of employees reaches 10, whereas PF registration is only necessary when the number of employees reaches 20.

Why ANBifm for PF Online Apply?

• Expert Guidance: Our experienced professionals provide Personalised assistance, ensuring compliance with PF regulations and Minimising errors.
• End-to-End Support: We handle everything from document preparation to submission, saving you time and effort
• Compliance Assurance: Stay on the right side of the law with our thorough understanding of statutory obligations
• Technology-driven Approach: Our user-friendly online platform simplifies the process, providing transparency and convenience
• Quick Turnaround: We expedite the EPF registration online process, ensuring prompt completion and hassle-free PF contributions
• Affordable Pricing: Get top-notch services at competitive rates, suitable for businesses of all sizes.