Business-License & Registration

EPF REGISTRATION & RETURN COMPLIANCE: ABOUT: E.P.F (Employee Provident Fund) is a scheme for the welfare of employees working in an establishment under the terms and conditions of the Employee Provident fund and Miscellaneous Provision Act 1952. EPF registration is mandatory for all establishments if employees engaged are 20 or more persons. in case any company has employee less than 20 but want to give the benefit of PF to its employees can get registered to itself voluntarily with EPFO. The registration has to be done within one month from the date of hiring 20 employees. The Provident fund is a contribution, which is given by the employer and employee equally as per the rules of the government. After deduction, This contribution is deposited with the PF department every month by the respective employer. Once the Organization is registered with the PF department then it has to contribute 12% of the basic salary of employee salary towards PF and 12% is to be contributed by the employee towards his contribution. The employers having PF registration, have to file the PF returns monthly. The PF return filings are to be completed by the 25th of each month. EPF Registration: EPF Registration for employers is an online procedure, which is required to be done on EPFO Website. After providing respective detail, the employer has to upload its DSC for completion of the registration. This registration allots a unique identification number (UAN) to the employee working in a registered organization and in the whole journey of employment whether in one organization or others this UAN number remains the same with all details of the employee. this scheme provides social security to the employee after retirement or during its employment. Documents Required For EPF Registration The following documents need to be attached to the “Registration Form for EPFO” by the employer-

• PAN Card of the Proprietor/Partner/Director.
• Proof of address such as the Electricity Bill or Water Bill or Telephone Bill of the Registered Office (not older than 2 months).
• Aadhar Card of Proprietor/Partner/Director.
• Shop and Establishment Certificate/GST Certificate/ any License issued by the government for the establishment.
• Digital Signature of the Proprietor/Partner/Director.
• Canceled Cheque or Bank Statement of Entity.
• Hired/Rented/Leased Agreement, if any.
• License Proof issued by the Identifier/Licensing Authority.

E.P.F Compliance after Registration: After registration of the employer organization, the employer needs to enroll the employee's details eligible within the scheme.

• For EPF, employers should enlist new eligible employees providing their KYC. The employee should fill Form- 2 (Declaration and Nomination) under the PF Scheme by the 25^th of the close of the month.
• Records to keep all necessary updates
• Attendance and Wages Register of employees
• Form 6 Register (Details of Employer contribution in the respective Schemes)
• Inspection Books with details of inspection done and reports by the authorities
• Accident Register of employees
• Record of monthly Challans and Returns
• The Account Books and Registers for general compliances, such as, P&L Account, Cash Book, Balance Sheet, etc.

including Complete the Monthly Payment through specific Challan Annual EPF Compliances:

• The eligible employer should clear the Provident Fund payment in Provident Fund Account through Challan as opened during registration on the 15^th of each month.
• Provide details of new joiners (Form 5) and terminated employees (Form 10). The employer should also provide information on last month employees, new and resigned employees within 15 days
• Consolidated monthly Statement (Form 12 A).
• Annual Return by 30^th April of every year, with consolidated annual contribution statement (Form 3A and 6A).
• Conduct PF Audit, as applicable under the guidelines of this Scheme

Penalties on Failing the EPF Compliances:

• The penalty of 12% per year interest for each day of delay in payment of contribution
• Penalty on late payment as mentioned:
  • Delay up to 2 months: 5% interest p.a.
  • Delay of 2-4 months: 10% interest p.a.
  • Delay of 4-6 months: 15% interest p.a.
  • Delay of more than 6 months: 25% interest p.a. not exceeding 100% at a time.

• ##There may be complex things that occur during the registration process which is a time-consuming and lengthy process. The legal language of these forms is complex in nature. The government Portal and its functionality are in itself quite challenging. The support of professionals and experts can save your precious business time. Our team of LAW COMPLIANCES, having expertise in all such kinds of matters, will resolve all problems pertaining to registration & compliances and will save your precious time and Money.
• Working Process: >Choose your Plan and Pay Securely. > Upload required document > An expert will be assigned to you for the procedure of submission of the application. > Our Expert will complete the process required for your work along with the necessary assistance over a call during business hours.

  BASIC PLAN: For EPF Registration EPF Registration for the organization including up to 20 employees Service Fees: 5999/- excluding government Fees. STANDARD PLAN: For EPF Registration EPF Registration for the organization including less than 35 employees Service Fees: 11999/- excluding government Fees. ACE PLAN: For EPF Registration EPF Registration for the organization including more than 35 employees Service Fees: 19999/- excluding government Fees. EPF Return Compliance: BASIC PLAN: For EPF Return Compliance EPF Return Compliance for the organization including up to 10 employees Service Fees: 2999/- excluding government Fees. STANDARD PLAN: For EPF Return Compliance EPF Return Compliance for the organization including up to 20 employees Service Fees: 5999/- excluding government Fees. ACE PLAN: For EPF Return Compliance EPF Return Compliance for the organization including up to 30 employees Service Fees: 8999/- excluding government Fees. Law Compliances can help you in obtaining EPF Organization Registration in 7 working days and EPF Annual return filing in 7 working days respectively.**   ** Time taken for Incorporation/ Registration will depend on the submission of the relevant documents by the client and also approval from the CONCERNED Government authorities.   FREQUENTLY ASKED QUESTIONS (FAQ):

 Is it possible to get PF after registration?

You cannot apply for withdrawing the EPF account balance immediately after the resignation from the company. In case if the applicant is choosing to withdraw money in the PF account before completing 5 years, you will liable to pay tax on the amount.

 Is PF registration mandatory for individuals earning more than Rs.15,000?

PF registration is mandatory for the employees who have a basic salary of dearness allowance is up to 15,000 and for those who are earning beyond Rs.15,000 it is not mandatory to get PF registration.

How many days it will take to clear the PF amount?

When the employee applies for EPF it takes 10-30 days to get the PF amount into the bank account. But the time depends on how fast the EPFO officer clears the claim. Some EPFO office clears the claim in 10 days while some take more days.

What is the due date for monthly challan remittance to the bank for PF?

The due date for Monthly Challan remittance to the Bank for PF is the 15th of every month.

What is the due date for monthly PF returns?

The due date for monthly PF returns is the 15th of the subsequent month.

What is the due date for yearly PF return filing?

The due date for yearly return filing is the 30th of April every year.

 Is it possible to get PF after registration?

You cannot apply for withdrawing the EPF account balance immediately after the resignation from the company. In case if the applicant is choosing to withdraw money in the PF account before completing 5 years, you will liable to pay tax on the amount.

 What is the PF contribution?

The employer and the employee both have to both contribute 12% of the basic salary of the employee in the EPF account. ***