Process of Registration by Taxhub
Upload the basic Documents
Choose your Requisite plan and pay the Fees
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the Return
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What is a EPF Return?
The Employees’ Provident Fund (EPF) is a savings scheme introduced under Employees’ Provident Fund and Miscellaneous Act, 1952. It is administered and managed by the Central Board of Trustees that consists of representatives from three parties, namely, the government, the employers and the employees.
Employees Provident Fund is a retirement benefit scheme for all salaried people and this fund is maintained by Employees Provident Fund Organization of India (EPFO) and any company having 20 employees or more is required to register with EPFO.
During the working tenure, employee and employer both contribute 12 percent of the basic salary of employee into EPF account. Employee's entire 12 percent goes into EPF account and Employer's 3.67 percent is transferred into EPF account of employee. Rest 8.33 percent from employer's side is diverted in Employees Pension Fund (EPF).
Types of EPF Return.
Monthly Returns (before 25th): Following are the monthly returns which need to be filed before 25th of the succeeding month.
• Form 2 (Revised)
It contains his personal details and nomination. Also for changing nominee names Form 2 is used. His eligibility begins on the date of joining the firm. It is to be submitted along with form-5.
• Form 5
Form 5 is a monthly report which provides the details of the employees newly joining the Provident Fund scheme during the given month.
• Form 10
PF Form 10 is a monthly report that provides the details of the employees exiting from the Provident Fund scheme during the given month.
• Form 12A
PF Form 12A monthly report that provides the details of the PF Payments made to the respective PF Accounts of the Employees during the given month.
• E-Challan Return (ECR)
Electronic Challan cum Return (ECR) is an electronic return in plain text format. All employers of covered establishments under EPF can now file Electronic Challan cum Return (ECR) from April 2012 and can dispense with filing physical returns in Form 5, 10, 12A, 3A, and 6A.
Basic Key Points of EPF Return Filing
Annual Return
Every year annual returns should be submitted on or before 30th April. The period for the annual return is March to Feb. Annual returns consist of Form 3A and Form 6A.
PF Return Due Date
• This is the date by which you have to submit the PF which you will deduct from your employees’ salary. This has to be done on or before the 15th of next month. i.e., if you want to deposit PF contribution for the month of June, then it has to be done on or before the 15th of July.
• With the new ECR in place, filing and payment can be both done at the same time. Hence, the PF return due date is the same as that of payment. I.e., on or before the 15th of every month.
Interest on PF Delay Payment
• An employer who does not pay the contribution within the time limit shall be liable to pay simple interest at the rate of 12% per annum for each day of the default or delay in payment of contribution.
1,999/-
All Inclusive Fees
| (Upto 20 Employees) |
| EPF Return Filing |
| Assistance in EPF calculation and payment |
2,999/-
All Inclusive Fees
| (Upto 30 Employees) |
| EPF Return Filing |
| Assistance in EPF calculation and payment |
4,999/-
All Inclusive Fees
| (Upto 50 Employees) |
| EPF Return Filing |
| Assistance in EPF calculation and payment |
| Customized package available for more than 50 Employees |
Benefits of EPF Return Filing in India
The employees will understand that the organisation values the welfare of the employees. This will increase the amount of employee welfare.
Any company complying with the requirements of EPF will be benefitting from the scheme. Apart from this, the company would also remain transparent throughout the whole process of provident fund registration.
Any organisation which does not have some form of insurance would get the benefits of the Employee Deposit Linked Insurance Scheme (EDLI). Through this scheme employees can secure the benefits of insurance. For this 5% of the monthly contribution must be paid as a premium for this form of insurance to be applicable.
There are different forms of taxation benefits under this scheme. Such benefits can be enjoyed by both the employer and the employee.
An employee can withdraw specific amount of salary from this contribution which is equivalent to six times or the entire amount whichever is lesser for medical expenses during emergencies.
Apart from having a secure system of social security, the whole process related to PF is managed by the Employee Provident Fund Organisation (EPFO). Such organisation regulates the entire process of PF registration. Hence complying with such systems makes the entire process hassle free.
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
