PF Registration

pf-registration

Employees' Provident Fund [EPF] is a scheme established by the Employees' Provident Funds and Miscellaneous Provisions Act of 1952. It is governed by the Employees' Provident Fund Organisation (EPFO), which is one of the world's major Social Security Organizations in terms of clientele and number of financial transactions. Essentially, EPF is a service given by the organisation to an employee after their retirement.


The employer must secure the registration within one month of achieving the strength, or face penalties. Even if the staff strength falls below the prescribed minimum, a licenced establishment remains subject to the Act. After providing at least two months' notice for compulsory registration, the Central Government may extend the provisions to any institution employing less than 20 people.


The employer must secure the registration within one month of achieving the strength, or face penalties. Even if the staff strength falls below the prescribed minimum, a licenced establishment remains subject to the Act. After providing at least two months' notice for compulsory registration, the Central Government may extend the provisions to any institution employing less than 20 people.


Any establishments with less than 20 workers are still expected to register for PF, although this is a voluntary registry. Both workers will be liable for a PF from the start of their jobs, and the employer will be responsible for deducting and paying the PF.


The 12% PF share should be split evenly between the boss and the employee. The boss contributes 12% of the minimum wage. If the establishment has less than 20 workers, the PF deduction rate is 10%.

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