Description

The EPF Act, 1952 provides 3 schemes through the EPFO 1) Provident Fund (EPF) 2) Pension (EPS) and 3) Insurance (EDLI). All such industries that are covered under the schedule I of the EPF Act, 1952 are liable to get registered in the EPF scheme if their employee strength is 20 or more, even for one month of a financial year. The employer can apply for voluntary EPF registration under the EPF act even if the employee strength is less than 20 after taking consent from majority of the employees. EPF Pointers: 1) Once an EPF/EPS member always an EPF/EPS member subject to certain conditions 2) “EPF wages” includes - Basic - Dearness allowance - Retaining allowance - Allowances which are universally, necessarily and ordinarily given to all employees of a particular category is considered basic wage” Exclusions -HRA-Overtime-Bonus-Commission 3) Wage ceiling w.e.f. 1-9-2014 is Rs. 15000/- 4) Pay > 15000/- coverage of employees optional subject to Once an EPF/EPS member always an EPF/EPS member 5) Pay < =15000/- coverage of employees compulsory EPF Registration Documents List: A) Proprietorship / Individual Pan card GST licence Email Id and mobile no Aadhar Card Consent Letter if registration under voluntary coverage Rent Agreement Nature of business Specimen Signature Card DSC token If factory, a)Factory licence b)Secondary/Manager email id and mobile no B) Private Ltd/LLP/Partnership firm Pan card of company/firm Certificate of Incorporation GST licence Shop Act licence if available List of Directors / Partners Email id and mobile no of authorized person Pan card, Aadhar Card, email id, mobile no and DOJ of all directors/partners Consent Letter if registration under voluntary coverage Rent Agreement Nature of business Specimen Signature Card signed by all employers and authorized signatory DSC token of director/partner Partnership deed in case of partnership firm If factory, a)Factory licence b)Secondary/Manager email id and mobile no