EPF Registration For Employers

EPF Registration Online Maharashtra

EPF Employer Registration

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Registration of EPF

EPF(Employee Provident Fund) is like financial support to the employees when they are about to retire. Government employees, people working in the private sector or public department also make use of these funds in order to save some money on taxes. When an employee is working(employed somewhere) he/she pays PF on monthly basis. Even the employer has to contribute the same amount on monthly basis too. It is also now mandatory for all businesses to get registered with the department of the provident fund within a month of the total count of the employee reaches to the number of 20 to avoid penalties.

Benefits of Registration

  • If one withdraws the PF amount after 5 years of time then the person is liable to get tax free savings (under section 80 of the income tax act)
  • Interest rates of up to 8 percent per anum
  • The complete EPF and EPS amount can be withdrawn on retiring if the tenure of 10 years of service has been completed
  • A person can avail unemployment benefits if he/she stays unemployed for more than 2 months.
  • EPF amount can be put to use in marriage, home loan, death etc.

What is the EPF registration process?

There are basically two types of registrations

  • Mandatory EPF registration

    This type of EPF registration is compulsory for any organization who has 20 or more employees even for a single month during a financial year. This is a must-to-do procedure to avoid penalties in the future.

  • Voluntary Registration:

    If the employee count is below 20, but the employer wishes to provide the EPF benefits to the employees then he/she can volunteer for EPF registration under the EPF act after taking in written the consent of all the employees.

EPF registration process for employers:

  • The revised process for EPF registration has been made somewhat easier than the previous method but it still is very complex and requires several documents from the employer including a digital signature and PAN.

EPF (rates and Calculation):

The contribution goes into the following accounts after registering into EPF:

  • Employee Provident Fund Account(EPF)
  • Employee Pension Account(EPS)
  • Employee Deposit Linked Insurance Scheme(EDLI)
  • Employee Deposit Linked Insurance Scheme Administration Charges(ELDI Administration charges)

How Business Escalators will help you with EPF registration

Business Escalators will help you obtain the process of EPF registration done within a week (Timeline subjected to change according to Government Processing time)

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