Online PF Registration
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PAN & TAN Registration
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HERE’S HOW IT WORKS
PF Registration is mandatory for all companies that have more than 20 employees
Get it done without any complications
Expert legal consultation assured
Why should you register your Company?
Registering a company offers many benefits. A registered company makes it genuine and increases the authenticity of your business.
- Shields from personal liability and protects from other risks and losses.
- Attracts more customers
- Procures bank credits and good investment from reliable investors with ease.
- Offers liability protection to protect your company’s assets
- Greater capital contribution and greater stability
- Increases the potential to grow big and expand
- You will also get Zero Balance Current Account
Steps covered under ESIC Registration Process
Collect relevant employee data and documents.
Establishment Registered with EPFO.
Register DSC (Digital Signature Certificate) of the Employer.
Fill application with all employer details.
Submit verified form
Get PF registration certificate & Universal Account Number [UAN]
Documents required for PF Registration
PAN card of establishment
Certificate of incorporation
Cross cancelled cheque of establishment
Specimen signature of directors and authorized signatories
Digital signature of the authorized applicant
In some entities the underlying may also be needed:
First sale bill
First purchase bill of raw material and machinery
GST Registration Certificate
Record of a monthly employee strength
Register of salary and wages
WHY START-UPS PREFER PRIVATE LIMITED COMPANY AS A BUSINESS FORM?
The Private Ltd Company is one of the most preferred business legal forms by growing Indian start-ups. A private limited company can fulfill the requirement of raising funds from private investors easily; attract less tax and is a separate legal entity with perpetual succession which is restricted to other business types. Find out more.
Eligibility for EPF Registration for Indian employers
To be eligible for PF Registration, an organization has to fulfill the following criteria:
- A factory that has 20 or more people.
- An establishment that employs more than 20 persons. Here, the Central Government defines the class of such firms.
- An establishment that has less than 20 workers and has been notified of compulsory registration for not less than 2 months.
- The employer and the employees of an establishment mutually agree to apply for PF to the Central PF Commissioner. A notice has to be sent to the Official Gazette from the date of the agreement.
- An establishment can also opt for voluntary registration if the employee count is less than 20. Every employee is eligible for PF right from the beginning of his employment. The responsibility of PF contribution and deduction is of the employer’s.
Frequently Asked Questions
Q. Will PF registration help in collection of pensions?
Yes. PF has a direct impact on the pension of an employee. Of of the amount contributed by the employer towards EPF, 8.33% of it goes to the EPS, i.e., Employee Pension Scheme.
Q. What is the rate of PF contribution?
Both the employee and employer contribute 12% of the salary. The employers part consists of 12% of basic wages + dearness allowance + retaining allowance. If the number of employees is less than 20 in the firm, then the PF rate is 10%.
Q. Will Vakilsearch be able to help my firm in my city?
As expert advisors of the provident fund on an online platform, Vakilsearch is capable of aiding every establishment in India. As long as you have an Internet connection that can be used to send over a copy of all your documents, we will be able to register for your PF.
Q. What is the rate of interest of EPF?
For the financial year 17-18, the interest rate was capped at 8.55%. When compared with any other debt instrument, this is an incredible rate of return. Furthermore, a PF account comes within the Exempt, Exempt, Exempt (EEE) status. You need not pay tax on the amount saved in your PF account. Hence, in short, there is no better way to save for your old-age than getting a PF account while you are employed. It acts as a blanket of financial security for you.