Filing of PF returns in India | PF Monthly Return | EPF Return Filing Process | Monisha Chaudhary
4.2 هزار بار بازدید -
2 سال پیش
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Employees Provident Fund is a
Employees Provident Fund is a retirement benefits scheme for all salaried people and this fund is maintained by the Employees Provident Fund #Organization of India (EPFO) any company having 20 employees or more is required to register with #EPFO.
During the working tenure, the employee and employer both contribute 12 percent of the basic salary of an employee into the EPF account. Employee's entire 12 percent goes into EPF account and Employer's 3.67 percent is transferred into #epfo account of an employee. The rest 8.33 percent from the employer's side is diverted into Employees Pension Fund (EPF).
EPF Registration
EPF Registration is mandatory for companies/organizations having more than 20 individuals. Registration can be done online and offline both but preferably done in online mode.
Benefits of PF Return Filing (Provident Fund) Return
There are different forms of benefits that can be received from filing the PF return. The following are the benefits of filing the PF return:
The welfare of the Employees-
The employees will understand that the organization values their welfare of the employees. This will increase the amount of employee welfare.
Compliance with Law-
Any company complying with the requirements of EPF will be benefitting from the scheme. Apart from this, the company would also remain transparent throughout the whole process of provident fund registration.
More Social Security-
Apart from having a secure system of social security, the whole process related to PF is managed by the Employee Provident Fund Organisation (EPFO). Such an organization regulates the entire process of PF registration. Hence complying with such systems makes the entire process hassle-free.
Benefits of Insurance-
Any organization which does not have some form of insurance would get the benefits of the Employee Deposit Linked Insurance Scheme (EDLI). Through this scheme, employees can secure the benefits of insurance. For this 5% of the monthly contribution must be paid as a premium for this form of insurance to be applicable.
Medical Benefits-
An #employee can withdraw a specific amount of salary from this contribution which is equivalent to six times or the entire amount whichever is lesser for medical expenses during emergencies.
Benefits related to Taxation-
There are different forms of #tax benefits under this scheme. Such benefits can be enjoyed by both the employer and the employee.
What details have to be provided by the Employer?
The employer needs to provide the following details along with EPF Form which can be downloaded from the EPFO website
Name and address of the company along with head office and branch details
Date of Incorporation of company
Provide Details of employees (name, date of joining, salary, etc)
Business of the company
Director’s details
Banking details of the company
PAN details
What is the Procedure for Filing PF Return?
The process in which a PF return has to be filed by the employer has to be in compliance with the requirements of the Unified Portal of PF filing. Any employer that is registered under the system of Employees Provident Fund System has to mandatorily consider filing the returns on time.
Form 2-Such form is utilized by the employer for a flagship scheme under the Employee Family Scheme utilized by the employee. For the above, Form 2 must be submitted along with Form 5. In this section, both part A and part B must be filed as per the requirements.
Form 5- This is a monthly compliance report which is required to be filed. Any employee who is newly enrolled in the systems related to the provident fund.
Form 10- For any form of individual or employee who is not part of the organization would be present under this form.
PF Annual Filing- By 30th April of every year, the annual returns for PF must be filed. This must be carried out by filing Form 3A and Form 6A.
Account Statement Filed Annually- Along with this, the EPFO has to send the annual account statement regarding the filings.
Copy of partnership deed (In case of partnership firm)
Certificate of Incorporation (In case of Private or Public Company)
Registration Certificate (In case of society)
PAN details of the company
Proof of Incorporation
Salary details of employees
Balance Sheet details
That’s all for this video. For any other concerns or questions on this process, kindly email us at [email protected] or call on the numbers mentioned over the screen.
Do like, share, and subscribe!
Thank you.
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During the working tenure, the employee and employer both contribute 12 percent of the basic salary of an employee into the EPF account. Employee's entire 12 percent goes into EPF account and Employer's 3.67 percent is transferred into #epfo account of an employee. The rest 8.33 percent from the employer's side is diverted into Employees Pension Fund (EPF).
EPF Registration
EPF Registration is mandatory for companies/organizations having more than 20 individuals. Registration can be done online and offline both but preferably done in online mode.
Benefits of PF Return Filing (Provident Fund) Return
There are different forms of benefits that can be received from filing the PF return. The following are the benefits of filing the PF return:
The welfare of the Employees-
The employees will understand that the organization values their welfare of the employees. This will increase the amount of employee welfare.
Compliance with Law-
Any company complying with the requirements of EPF will be benefitting from the scheme. Apart from this, the company would also remain transparent throughout the whole process of provident fund registration.
More Social Security-
Apart from having a secure system of social security, the whole process related to PF is managed by the Employee Provident Fund Organisation (EPFO). Such an organization regulates the entire process of PF registration. Hence complying with such systems makes the entire process hassle-free.
Benefits of Insurance-
Any organization which does not have some form of insurance would get the benefits of the Employee Deposit Linked Insurance Scheme (EDLI). Through this scheme, employees can secure the benefits of insurance. For this 5% of the monthly contribution must be paid as a premium for this form of insurance to be applicable.
Medical Benefits-
An #employee can withdraw a specific amount of salary from this contribution which is equivalent to six times or the entire amount whichever is lesser for medical expenses during emergencies.
Benefits related to Taxation-
There are different forms of #tax benefits under this scheme. Such benefits can be enjoyed by both the employer and the employee.
What details have to be provided by the Employer?
The employer needs to provide the following details along with EPF Form which can be downloaded from the EPFO website
Name and address of the company along with head office and branch details
Date of Incorporation of company
Provide Details of employees (name, date of joining, salary, etc)
Business of the company
Director’s details
Banking details of the company
PAN details
What is the Procedure for Filing PF Return?
The process in which a PF return has to be filed by the employer has to be in compliance with the requirements of the Unified Portal of PF filing. Any employer that is registered under the system of Employees Provident Fund System has to mandatorily consider filing the returns on time.
Form 2-Such form is utilized by the employer for a flagship scheme under the Employee Family Scheme utilized by the employee. For the above, Form 2 must be submitted along with Form 5. In this section, both part A and part B must be filed as per the requirements.
Form 5- This is a monthly compliance report which is required to be filed. Any employee who is newly enrolled in the systems related to the provident fund.
Form 10- For any form of individual or employee who is not part of the organization would be present under this form.
PF Annual Filing- By 30th April of every year, the annual returns for PF must be filed. This must be carried out by filing Form 3A and Form 6A.
Account Statement Filed Annually- Along with this, the EPFO has to send the annual account statement regarding the filings.
Copy of partnership deed (In case of partnership firm)
Certificate of Incorporation (In case of Private or Public Company)
Registration Certificate (In case of society)
PAN details of the company
Proof of Incorporation
Salary details of employees
Balance Sheet details
That’s all for this video. For any other concerns or questions on this process, kindly email us at [email protected] or call on the numbers mentioned over the screen.
Do like, share, and subscribe!
Thank you.
Know more: https://enterslice.com/
Want to know more about #Enterslice
Share, Support, Subscribe!!! to our YouTube channel: http://bit.do/fqM2B
Facebook: Facebook: enterslice
Twitter: Twitter: enterslice
LinkedIn: LinkedIn: enterslice
Instagram: Instagram: enterslice_official
2 سال پیش
در تاریخ 1401/03/30 منتشر شده
است.
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