PF | ESI
The Employee Provident Fund or PF is a retirement saving scheme provided by the government for all salaried employees in India, on which fixed interESI is regularly paid.
The Employee Provident Fund is a perquisite given by the employer to their employees over and above their basic remuneration.
WHY GET EPF ONLINE REGISTRATION FOR EMPLOYER?
PF Registration is mandatory for all the organizations that have 20 or more employees. Such organizations are required to contribute a fixed amount towards Employee Provident Fund out of employee salary and wages.
If an employer fails to get EPF employer registration, or indulges in false representation of facts to avoid PF payment, he shall be liable for a penalty of INR 5,000/-.
WHEN IS PF REGISTRATION FOR EMPLOYER MANDATORY?
PF registration for Employer is compulsory if:-
He owns a factory having 20 or more people, or
Any other organization / foundation with 20 or more employees or
The class of such organizations whom the Central Government may, by notice would specify for compulsory EPF employer registration.
WHAT DETAILS DO I NEED TO GIVE FOR PF REGISTRATION?
Employers need to furnish the following details to get PF registration.