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REGISTRATIONS
EPF
The Employees’ Provident Fund (EPF) is a government-backed scheme that provides retirement benefits and social security to employees in India. EPF registration is mandatory for businesses with 20 or more employees and applies to employees earning less than ₹15,000 per month. It helps employees save a portion of their salary every month, with contributions from both the employer and employee. The scheme ensures financial security after retirement, along with other benefits like pensions and insurance coverage.
Benefits of EPF Registration
1. Retirement Savings: Both employees and employers contribute to the EPF, ensuring financial security post-retirement.
2. Pension and Insurance Benefits: The scheme provides pension benefits and life insurance through the Employees’ Pension Scheme (EPS) and Employees’ Deposit Linked Insurance (EDLI).
3. Tax Benefits: Contributions made to EPF are eligible for tax deductions under Section 80C of the Income Tax Act.
4. Medical and Housing Advances: Employees can withdraw from their EPF for medical emergencies, home purchases, or educational purposes.
5. Unemployment Protection: In the event of unemployment, employees can withdraw a portion of their EPF to meet financial needs.
Who Should Apply for EPF Registration?
1. Employers with 20 or More Employees Mandatory Registration for Large Employers
Businesses with 20 or more employees must register under EPF, ensuring that both employers and employees contribute to the provident fund for retirement benefits.
2. Small and Medium Enterprises (SMEs) Provide Benefits to Your Workforce
SMEs with fewer than 20 employees can also voluntarily register for EPF to offer retirement and financial security benefits to their workers.
3. Employers in the Manufacturing Sector Secure Your Employees’ Future
Manufacturing units, which often employ a large workforce, must register for EPF to provide pension and insurance benefits to their workers.
4. Service Sector Employers Comply with Labor Laws
Service sector companies, including IT firms, hotels, and consultancies, must register for EPF to ensure compliance with labor laws and provide retirement security to their employees.
Our Process
1. Eligibility Check and Consultation
We assess your business’s employee strength and salary structure to determine EPF registration eligibility.
2. Document Collection and Application Filing
We collect necessary documents, such as employee records, salary details, and business registration documents, and file your EPF application with the Employees’ Provident Fund Organization (EPFO).
3. EPF Number Issuance
Once processed, you will receive a unique EPF registration number that allows your business to start contributing to the EPF.
4. Ongoing Support and Compliance
We provide ongoing support, including monthly filings, compliance checks, and assistance with employee claims and withdrawals.
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Have questions? Ask us or find your answer here
EPF is a mandatory savings scheme for retirement, where both employees and employers contribute. It is required for businesses with 20 or more employees.
Documents required include employee details (name, date of birth, salary), business registration, and bank account details of the employer.
The registration process usually takes 15-20 working days, depending on document verification.
EPF is mandatory for employees earning less than ₹15,000 per month. Employees earning above this threshold can voluntarily opt-in.
Yes, businesses with fewer than 20 employees can voluntarily register to offer EPF benefits to their workforce.
Employees can withdraw their EPF contributions partially for purposes such as medical emergencies, home purchases, or unemployment.
Employers contribute 12% of the employee’s salary to the EPF, of which 8.33% goes towards the Employees’ Pension Scheme (EPS).
Non-compliance with EPF regulations can result in penalties, including fines and legal action by the EPFO.