The following article will explain the documents needed for EPF Registration in India in easy terms. Let’s go explore!
Significance of EPF registration
The following are some reasons why EPF registration is essential for a company:
- The main advantage of the Provident Fund is that it protects employees and their dependents against illness, death, and retirement risks.
- Employers must have EPF registration to withhold TDS from employees’ pay cheques and process payments following the process of generating challans through the EPFO employer portal.
- Employees have a great long-term asset in their Provident Fund account because it is constant and portable to any other employer.
- Employees may use their accumulated PF funds for immediate expenses like a wedding or further education.
- Further to the employee’s 12% EPF contribution, employers also contribute 8.33% to the Employee Pension Scheme.
Eligibility Criteria for EPF Registration
The following eligibility requirements must be satisfied to register for the EPF scheme:
EPF deductions from employee pay are mandated by law for businesses with 20 or more employees.
Under certain situations, organizations with fewer than 20 employees may also sign up for the EPF scheme.
After hiring 20 workers, employers must register with the EPF within one month, failing which they may be fined. If a registered organization has fewer employees than the required number, it is nonetheless covered by the Act.
The Central Government may apply the regulations to any establishment employing fewer than 20 persons after giving at least two months’ notice for mandatory registration. Suppose both the employer and the majority of the employees believe this act’s requirements should apply to the institution. In that case, they may submit their application to the Central Provident Fund (PF) Commissioner.
Documents for Employer/Employee
For the employer to register for EPF benefits, the government provides both an online and offline platform. Before implementing these strategies, the employer must provide certain mandatory documentation based on the company’s classification. The information provided below will guide the documentation needed to register an employer for EPF.
For proprietorship firm purposes, the following sorts of documents are necessary:
- Name of the employee or employer
- Details of a PAN card
- Valid identification, such as a driver’s license, voter ID, or passport
- Address verification for the place where the business is being undertaken
- Residential address as evidence of proprietorship
- Contact Details
Partnership Firms / LLP / Company
For purposes relating to Partnership businesses, the following types of documents are required:
- Name of the company, LLP, or partnership firm
- In the case of a partnership firm, a Certificate of Registration is necessary.
- The partnership deed is needed.
- Partner identification documents include a PAN card, election card, passport, or driver’s license.
- List all partners in a partnership firm and evidence of each partner’s address and phone number.
Limited Liability Company/Partnership
The following documents are required for Limited Liability Partnership purposes:
- Identity proof for the present Director
- Certificate of incorporation for an organization.
- Details for each active director whom the company currently employs.
- The currently active Director’s digital signature certificate (DSC), which is used to manage the company’s operations.
- Address, account number, and other essential bank details, including the IFSC code.
- Identification and residency proof for the director.
- Information about the company’s employees.
- Details regarding the wages and pay of the employees.
- Statement of the initial sale
- Crossed cheque cancelled
- The Memorandum of Association (MoA) and the Articles of Association (AoA)
- A list of the manufacturing-related equipment and raw materials purchased.
- Information about the society’s president and members
- Certificate of Incorporation
- Proof of trust’s address.
- Details of a PAN card
- Memorandum of Association (MoA)
Common Documents Required for All Entities
- An initial sales invoice.
- Initial purchase order for machinery and raw materials.
- If you are registered for GST, a GST Registration Certificate is necessary.
- Name and location of the bankers.
- Keep track of the total number of employees every month.
- Register of salaries and earnings, all receipts, and all balance sheets from the first day to the present day of the interim coverage.
- Date of employment, father’s name, and birthdate of employees are provided.
- Payroll and PF Statement.
As a result, you must have the documentation needed for the PF registration available according to the type of company.
The Employee Provident Fund scheme, overseen by the EPFO, one of India’s main social security organizations, offers employees financial help, protection, and confidence. Every day, the EPFO manages a sizable number of financial transactions. Employers must offer employees a form to complete and submit to the EPFO to apply for the Provident Fund.
The online approach is so straightforward that even a non-technical person can participate. Keep in mind that the registration process is simple. The majority of the issues arose during the preparation of the registration documents. Take care of your documents and ensure they are legitimate if you want to finish the registration process on your first try. Therefore, get advice from a professional regarding the documentation needed for PF Registration Online. Additionally, it will assist you in avoiding any possible mistakes or discrepancies that can cause the registration process to be delayed.
If you choose, Kanakkupillai will provide legal support to register EPF and obtain the required documents. The legal knowledge of Kanakkupillai guarantees you will receive thorough help throughout the EPF registration process. You may be sure that our help will do every necessary document precisely and swiftly. At Kanakkupillai, our team of skilled specialists is skilled at handling legal situations effectively. If you give us the necessary documentation, we can speed up the registration procedure and make sure you have a good experience. We have a proven track record of helping customers with various legal issues. You may be confident that by getting in touch with us, you will receive knowledgeable advice and assistance throughout the registration procedure.