Provident Fund Registration

Provident Fund registration is a vital step for employers aiming to establish and administer a retirement savings scheme for their employees.

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Steps to get PF Registration online

Fill the form and provide documents

Just fill your contact details and share the required documents for registration.

Sign and share the documents

Our team will share the documents for signatures, just sign and share scanned copies.

Filing of registration application

Registration application is filed with concerned certification authority and we will keep you updated on its status.

Overview

The Provident Fund (PF) contribution is typically divided between the employer and the employee. Here is the usual breakdown of the PF contribution:
Employee Contribution: The employee’s contribution is a percentage of their salary or wage, up to the prescribed limit. As of September 2021, the employee’s contribution rate is 12% of the employee’s basic salary plus dearness allowance. This contribution is deducted from the employee’s salary before disbursal.
Employer Contribution: The employer also contributes an equal percentage, which is currently 12% of the employee’s basic salary plus dearness allowance. This employer contribution is in addition to the employee’s contribution and is not deducted from the employee’s salary.

Documents Required

Employer’s Documents:
~Certificate of Incorporation of the company
~PAN Card
~Address Proof of company’s registered address
~MoA and AoA
Employee-related Documents:
~Employee Details ~Document stating the employee’s start date and position in the company
~Aadhaar Card
~Bank Account Details
Other Supporting Documents:
~Digital Signature Certificate (DSC)
~Cancelled Cheque
~PF Challans: Proof of previous PF contributions, if applicable

Registration Process

Employers assess their eligibility for PF registration based on factors like the number of employees and relevant regulations in their jurisdiction.
Gathering necessary documents
Application submission to the relevant PF regulatory body or government department
Upon successful application, employers receive a unique identification number or employer code
Registered employers enroll eligible employees into the PF scheme
Employers deduct employees’ contributions from their salaries and contribute the employer’s share to the PF account. These contributions are then deposited with the appropriate government authority within specified timeframes

Benefits of registration

Benefits of EPF Registration	For Employees	For Employers
Financial Security	Through regular EPF contributions, employees build a secure financial future for retirement or emergencies.	By offering the EPF benefit, employers enhance job satisfaction and retention.
Retirement Benefits	The EPF scheme helps accumulate a substantial corpus for a comfortable lifestyle after retirement.	Employer contributions reflect commitment to employee welfare, improving the company’s reputation.
Tax Advantages	Contributions are eligible for tax deductions under Section 80C of the Income Tax Act, lowering taxable income.	Adhering to the Miscellaneous Provisions Act helps avoid penalties, creating a compliant business environment.
Loan and Withdrawal Benefits	Employees can withdraw funds for emergencies, home loans, or major life events, enhancing financial flexibility.	Providing access to loan and withdrawal benefits boosts employee satisfaction and reduces turnover.
Risk Coverage	The EPF provides a financial safety net during unexpected life events like illness or job loss.	Offering EPF as part of employee benefits enhances the corporate image, showing value for employee welfare.
Emergency Fund	The EPF serves as a backup for urgent financial needs, ensuring access to funds when required.	Maintaining EPF benefits helps support employees during difficult times, ensuring stability.
Employee Welfare	Contributes to overall well-being, promoting loyalty and satisfaction regarding future financial security.	Demonstrating commitment to employee welfare enhances loyalty and long-term commitment.

Why BizReg?

We make it easier for entrepreneurs to get their PF registered online from the comfort of their home in just 5-10 working days. Our package includes verification, filing of the documents, obtaining PF Certificate. By choosing BizReg, businesses can benefit from our expertise, efficiency, and commitment to ensuring smooth PF registration and compliance.