Provident Fund

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PROVIDENT FUND

VS Legal

Employee’s Provident & Miscellaneous provisions act

Any other establishment employing 20 or more persons which Central Government may, by notification, specify in this behalf.Applicability : Every establishment which is a factory engaged in any industry which has 20 persons are employed.

Any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act. Banks employing 20 or more employees.

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Aamta Nirbhar Bharat Rojgar Yojna (ANBRY)

New employees who have joined between 1-10-20 to 30-6-21 or who have exited during 31-3-20 and rejoin after 1-10-20 and having salary less then 15000 will receive the benefit of employees and employers contribution towards PF from Government ( You need not to pay single peny from pocket) New PF Registration done before 30-6-21

Eligibility

Any person who is employed for work of an establishment or employed through contractor in or in connection the work of an establishment where salary upto 15,000/: p.m. and optionally covered where salary exceeds Rs.15,000/-p.m. w.e.t. 01.09.2014.

  • Any person who is classifed as disabled employee  under EPF scheme and working in private sector draw monthly wages upto 25,000/-.

  • Any person person employeed under any establishedment as a International worker.

  • Any new joinee who is drawing salary Rs. 15001/-& above above wel 1-9-2014, are not entitled for Pension Scheme.

Employees covered enjoy a benefit of Social Security in the form of an unattachable, unwithdrawable (except in severely restricted circumstances like buying a house, marriage/education etc.) Financial nest example to which employees and employers contribute equally throughout the covered person employment. This sum is payable normally on retirement or death. Other Benefits include Employees’ Pension Scheme and Employees Depot Linked Insurance Fund

If any of the establishment is not satisfying above-mentioned condition and if the employer and majority of the employees are willing, the Act may be applicable to such establishment.

Type of employee fall under PF registration

VS Legal

1.    Full-time employees

2.    Part-time employees

3.    Employees Working at Home

4.    Contractual Employees

5.    Full-time Consultants

PF Payment Due Date PF Monthly Return Due Date PF Annual Return Due Date
15th of every month 25th of every month 30th April

Penal Provision

Liable to be arrested without warrant being a cognisable offence. Defaults by employer in paying contributions or inspection /administration charges attract imprisonment up to 3 years and fines up to 10.000 (S.14) For any retrospective application, all dues have to be paid by employer with damages up to 100% of arrears.

Documents required to register under provident fund (PF)

  • Pan card of the Establishment
  • Certificate of Incorporation
  • Copy of Partnership Deed / Memorandum and Article of Association
  • Cancelled cheque of Establishment
  • Address proof of the Establishment (Rent Agreement, Water/Telephone/Electricity bill in the name of Establishment)
  • List of Directors/Partners/Owners along with their residential addresses