Provident Fund Registration
In India, Provident Fund (PF) and Employee State Insurance (ESI) are essential for ensuring financial security and healthcare benefits for employees. Companies must register for these schemes as per government regulations.
The Employees’ Provident Fund (EPF) is a retirement benefits scheme managed by the Employees’ Provident Fund Organization (EPFO). It helps employees save a portion of their salary every month, which they can withdraw after retirement.
Who Needs to Register?
- Any company with 20 or more employees must register for PF.
- Companies with fewer employees can voluntarily opt for PF registration.
Benefits of PF Registration:
- Retirement Savings – Employees accumulate a corpus for future financial security.
- Tax Benefits – PF contributions are exempt from income tax.
- Emergency Withdrawals – Partial withdrawals are allowed for medical, housing, and educational needs.
- Employer Contribution – Employers contribute 12% of the basic salary to the PF account
Documents Required for PF Registration:
- PAN Card of the business
- Certificate of Incorporation (Company/LLP/Partnership)
- GST Registration Certificate (if applicable)
- Address proof of the company (Electricity Bill, Rent Agreement, etc.)
- Aadhaar & PAN Card of Directors/Partners/Proprietor
- Employee details (Name, Salary, Date of Joining, etc.