The Employees’ Provident Fund assists employees with saving a small portion of their salaries for future needs. It is mandatory for every company to provide its employees with a retirement fund called the Employees Provident Fund (EPF). An employee’s provident fund is governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Organizations with a total employee strength over 20 are required to register with EPF
Employees contribute to EPF through their pay, and their employers contribute an equal amount through Employee Pension Scheme (EPS).
Provident Funds help the dependents of employees in times of sickness, demise or retirement by covering the financial risks they face as a result.
PF accounts can be transferred when changing jobs. An Aadhar-linked Universal Account Number (UAN) will serve as the platform for the linking of old accounts. They can be carried forward to the new employer instead of being closed.
EPF amount can be of great help during mishaps, illnesses, weddings and educational expenses. Employee can claim the amount online.
The PF account can be extremely helpful for long-term goals like buying a property or setting up a fund for children.
Registered member can get the details from Employee Provident Fund Organization (EPFO) by calling to 011-22901406 from the registered mobile number. And EPFO balance, retirement benefits through SMS at 7738299899.
We understand your urgency about getting legal. Therefore, we provide a hassle-free legal process. Complete any Registration in just 4 steps.
We encourage you to come up with any sort of questions related to legal documentation or any of our service, methodology implemented, quality assurance etc.
We give our best in providing consultation and give a quality output. Here are set of few questions which our beloved clients ask frequently, have a look at them.
Employees that draw less than Rs.15,000 per month need to get EPF registration mandatorily, and the employee drawing the Pay above the prescribed limit needs to get permission from the assistant PF commissioner to become a member.
It requires 20-25 days to obtain PF registration in India.