Employers must register online since TDS is deducted from employees’ salaries. You must first establish an account before you can register online. Companies with more than 20 employees must register for PF. By providing two months’ notice, the Central Government can make it mandatory for organizations with less than 20 employees to contribute to EPF. Companies with less than 20 employees can also contribute to EPF on a voluntary basis. EPF contributions are made by both the employee and the employer at a rate of 12% of the employee’s basic salary. If the organization has fewer than 20 employees, the employer’s contribution is 10%. Complete your EPF Registration in just a few simple steps from the Tax Help Desk, it offers one of the most reliable GST and income tax-related services. Keep reading the blog to learn more.
EPF Registration Procedure
An employer can choose to register for EPF either offline or online, with the online option being the favored way of registration today. The registration form can be retrieved at the Employees’ Provident Fund Organization’s website (EPFO). Employers must submit the following information in order to properly register.
- Company name and address
- Details about the headquarters and branches
- Mention the company’s incorporation/registration date.
- Fill out staff information – total employee strength
- The activity in which the business/enterprise is engaged – for example, manufacturing, production, service, and so on.
- Legal information – This refers to a company’s legal status. This include such as whether it is a private firm/public company, partnership or society, and so on.
- Details about the owners, including the names and addresses of the directors and partners
- Employee wage component specifics, i.e. total wage disbursed throughout a month
- PAN data of the bank with which the company has a banking relationship
- Employee basic information (name, date of joining, salary, etc.)
To complete the registration process, a form titled “Proforma for Coverage” must be filled out with the above-mentioned information. To complete the procedures, employers must also submit Form 5A with Annexure 1 in addition to this Proforma for Coverage.
EPF Registration Steps for Employers
You may complete your EPF Registration with Tax HelpDesk in six simple steps:
- Select the service that you require.
- To create your account, sign up for/login to your Tax HelpDesk account.
- Make the required payment.
- Please upload any papers that have been requested.
- Keep an eye on the status of your application, and your order will be completed.
After you place your purchase, TaxHelpdesk’s document review specialists will review the papers you provided within 24 working hours. Following the review of the paperwork, your request will be allocated to a Tax Expert who will handle it. You will also be able to view the order’s status on your allocated account.
Eligibility for EPF Registration
Employees’ Provident Fund (EPF) is a system governed by the Employees’ Provident Fund Organisation (EPFO) and was established as a result of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Today’s work culture is based on the well-being of employees, with firms scrambling to guarantee their staff has to access to the greatest treatment and perks. An Employee Provident Fund is a program that provides social security benefits to employees of a certain firm, hence strengthening employee-employer relationships. Employers must follow a set of laws and guidelines in order to fully enjoy these benefits, with registration being the first step.
Companies that reach a strength of 20 members are supposed to register themselves within one month of reaching that level, with fines imposed for late registration. Co-operative societies are required to register if their employee strength reaches 50 or more, and registered organizations are subject to the Act’s rules and regulations even if their employee strength falls below the minimum stipulated number. Tax Help Desk offers the simplest way for EPF Registration, It provides the best GST and income tax-related services.