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1/19/2021 4 Comments How to Register the company under Employees’ Provident Fund Organisation (EPFO)Employee Provident Fund (EPF) is a specialised fund which is set up to provide some form of retirement and other benefits to salaried individuals. All organisations require to EPF registration if specific prerequisites are met. Under provisions of the Employees Provident Funds and Miscellaneous Provisions Act, 1952, the word employee will include any form of a worker who is receiving a fixed salary.In order to register under Employee Provident Fund, the employer has to meet specific requirements of the above mentioned act. Under section 2(3), this act is applicable to all organizations in India. Benefits of EPF RegistrationFollowing are the list of benefits of EPF Registration in India:
Eligibility criteria for EPF RegistrationFollowing are the categories of Employees and Employers required for obtaining EPF registration:
What is UAN?UAN stands for Universal Account Number, a 12-digit number allotted to employees at the time of registering an employee under the EPFO portal. The Universal Account Number is assigned by providing the required details like name, father's name, PAN card, Aadhar number, Date of birth, etc. It is assigned to each EPF member by the EPFO (Employee Provident Fund Organization, which controls his EPF account and minimizes the employers' role. The following are the steps to activate UAN online:
Documents required for EPF RegistrationThe following are all the necessary documents required for EPF Registration:
Procedure for EPF RegistrationFollowing is the online step by step process for EPF Registration: Step 1: Register, the organization in the EPFO Portal. Step 2: Then, read all instruction manually provided for a user before the registration process. Step 3: Obtain a Digital Signature Certificate (DSC) for the registration. After getting DSC, a new application has to be filed for the EPF registration. Step 4: After applying A Universal Account Number (UAN) is generated. Step 5: After getting UAN, then fill the employer details. Step 6: Fill the employer's first name, user name, Employer's PAN number, and activate the email link for EPF registration online. Mandatory Compliances for EPF RegistrationOnce the registration is completed, it shall comply with specific mandatory provisions monthly or annually as described under the act:
The contribution rate of EPF
ConclusionAbove shows that EPF is an excellent saving scheme for retirement corpus for salaried employees. EPF registration is governed and regulated by Employee’s Provident Fund Organization (EPFO) Employee Provident Fund is a good investment plan as it comes with tax benefits. PF ensures higher earnings and improves savings in the long-term.
4 Comments
9/8/2021 10:02:25 pm
Very delighted to come across this useful article. Memorandum of Association is a fundamental document for the formation of a company. It is a charter of the company. Without memorandum, a company cannot be incorporated. The memorandum together with Articles of Association forms the constitution of the company. Since I have gone through your blog and found it informative, I would be glad if you visit my blog and share your valuable comments : https://bit.ly/3naPVTf
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7/11/2023 06:41:30 pm
We will keep your building looking good, undoing the signs of wear and tear over time. Whether you want your systems upgrading or need a new carpet and a lick of paint, we’ll keep everything up-to-date.
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10/3/2023 01:59:04 pm
To register and start doing business in the UK, follow these steps:
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2/27/2024 11:41:42 am
Registering a company involves the legal process of establishing a business entity with a governing authority, typically a government agency. This entails selecting a business structure, choosing a name, completing registration forms, and paying associated fees. Additionally, businesses may need licenses, permits, and tax identification numbers based on their location and industry. Proper registration ensures legal recognition and compliance with regulatory requirements, laying the groundwork for conducting business operations transparently and effectively.
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