The Employee Provident Fund (EPF) is a central government-regulated scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Effective since 1951, it extends across India, excluding Jammu & Kashmir. EPF is a beneficial investment method for salaried employees, aimed at fostering savings habits among employees in the private sector, public sector, and government undertakings.
Applicability of EPF
EPF registration is mandatory for:
Every factory engaged in industry employing 20 or more employees.
Any establishment with 20 or more employees in the previous year.
Employees earning less than INR 15,000 per month.
ASCESA offers professional assistance for EPF registration and compliance, ensuring your business meets all legal requirements.
WHAT IS EPF ?
Employee Provident Fund (EPF) is a scheme regulated by central government under ‘The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952′ which came into effect from 1951 which extends to whole of India except Jammu & Kashmir. EPF is one of the most beneficial investment methods for salaried employee. Government has initiated EPF registration and made it compulsory with certain conditions mainly for cultivating the habits of saving for all employees working in private sector, public sector or even in government undertakings.
APPLICABILITY OF EPF ?
REGISTRATION under EPF is compulsory:
For every factory engaged in industry employing 20 or more employees
For every other establishment having 20 or more employees during previous year.
For every employee who is getting less than INR 15000/- per month.
DOCUMENTS REQUIRED FOR EPF REGISTRATION
PAN details of company
Balance sheet details
Number of employees that have worked for the organisation for the month
In case the organisation has registered for GST, the certificate must be submitted
Cross cancelled cheque
Bank details such as name, branch, IFSC code, and address of the bank.
