The benefit offered to the employee during retirement is the Employee Provident Fund (EPF) for which EPF Registration is needed. It was established for social security with the intention of ensuring stability and financial security for retirees. It is a legal requirement for all businesses with more than 20 employees to be registered with an employee provident fund. It is required of organizations to adhere to and follow the relevant guidelines. When you want EPF Registration and get benefits online, you can perform a preliminary analysis of the EPF scheme, the programme for employee pensions, and the schemes that are a part of the Deposit Linked Insurance Scheme. In this instance, the employer and employee each contributed 12% of the employee’s base salary plus dearness and keeping allowance to the EPF. In this article we will thoroughly look into online Employee Provident Fund Registration.
Process of Online EPF Registration
You can review the following information for Employee Provident Fund Registration-
- You should first visit the website, locate the members-only portal, and learn the rules that apply, particularly “for employees,” as you express your desire to participate in the EPF process.
- To complete the initial registration, click the “register” option in the second step. The provision of the required documentation for Employee Provident Fund Registration would fall under this section.
- Between individual and corporate registration, there are differences. Any business or organization must complete something called a “establishment registration.” A thorough user manual helps users register for the EPF without any problems.
- Additionally, the “shram suvidha” portal is available, which simplifies the process of registering for EPF. Following this, you can complete the registration and sign-up processes for EPFO-ESIC. In general, you have the choice between the EPFO and the Employee State Insurance Act, and you must select the EPFO option. You must also register and upload any necessary paperwork for the EPFO. Branch name, employee name, employer name, all pertinent employment-related details, contact information, mail ID, etc., should be uploaded, and any errors should be fixed.
- The option to upload a soft copy of the employer’s signature is also available. After that, he or she receives a notification from the Shram Suvidha portal stating that all required information has been provided and that the digital sign is present.
- You must first determine why you require Employee Provident Fund Registration. Your future after retirement, the marriage of your daughter or son, your additional education, a physical condition, etc. Therefore, before registering, verify the online features offered the interest rate, etc. You can also contact their support team if necessary.
Eligibility of Online EPF Registration
The following establishments are subject to EPF Registration-
- Establishment that, at any moment during the preceding year, employed 20 people or more
- Factory with 20 or more employees operating in any industry throughout the year.
- After giving two months’ notice to a specific firm, the Central Government made registration mandatory for all employees. Upon receiving the notice, such a business must register itself right away.
- Additionally, there are limitations on who can withdraw money from the EPF account and how much they can withdraw. If your salary exceeds 15,000 per month, you are exempt from opening an EPF account. Only employees with total monthly incomes under $15,000 are covered by this policy. There is a formal registration procedure to be followed, and you can now find several internet instructions for it. It is simple and hassle-free.
- India has a large number of states and union territories. Jammu and Kashmir are excluded from the EPF’s calculations and issues relating to distribution, nonetheless.
You can easily complete online EPF Registration for employers if you follow the instructions and meet the prerequisites indicated above. However, it is important to keep in mind that even seemingly inconsequential errors during the registration procedure could prevent your employees from taking advantage of the programme and cause other legal problems. This makes it prudent to obtain legal counsel from professionals like Bizadvisors.io for EPF Registration. Therefore, all you need to do is give us the proper documentation, and we’ll complete your registration as soon as possible.
Read our article:List of Documents Required for EPF Registration in India