Hi Meenu/Sudhirchand ,
Below are the Details on PF as far as my knowledge is concerned.
In addition to this I am sending an attachement on PF.
Kindly find it attached.
Hope this will be useful for you two.
Let me know what else You Need.
The Employees Provident fund and Miscellaneous Provisions Act, 1952 is a social security measure aimed at:
Promoting and securing the well being of the employees by way of provident fund, family pension and insurance to them.
Inculcating a habit of saving amongst workers.
Providing a steady workforce to the employers and
Assisting the government by providing funds of considerable magnitude for utilization on various projects meant for promoting economic and social development of the country and the well being of its people.
The Act shall apply to :
every establishment which is a factory
engaged in any industry mentioned in schedule I of the Act and
employing 20 or more persons or
any other establishment employing twenty or more persons or
For the registration the establishment must submit the PF form to regional office of EPF. After the registration EPF organization is issued code number. This code number is used for all further communication to EPF organization.
All employees in such factory or establishment including contract labour, but excluding casual labour and receiving wages up to Rs. 6,500/- per month will be regulated by the provisions of the Act. Trainee and apprentices are also not included in determination of the numerical strength.
Employee may contribute 12 or 10 %, as the case may be, of the basic wages, dearness allowance including the cash value of any food concession and retaining allowance.
Employer will pay @13.61%.
The Break up is as follows.
Sl. No Account head Employee contribution Employer contribution
1 EPF A/c No.01 12% 3.67%
2 Pension Fund A/c No.10 0 8.33%
3 Deposit link insurance A/c No.21 0 0.5%
4 EPF administration charge A/c No.02 0 1.10%
5 EDLI administration charge A/c No.22 0 0.01%
Total 12% 13.61%
Filing of returns
The employer shall within 15 days of the applicability of the Act send the particulars of all branches, departments, owners, occupiers, director, partners or any other person in charge of and responsible for the conduct of business, in form (Return of ownership), in duplicate, to the commissioner.
In the event of any change, the same too should be intimated within 15 days to the regional commissioner.
The commissioner shall on receipt of the return of ownership verify the particulars submitted therein and after having been satisfied allot an establishment code No.
This code shall be mentioned on all forms, challans , statements, returns and all future correspondence
A return in the prescribed form5 in respect of employees qualifying to be members of the fund for the first month during the preceding month shall be filed within 15 days of the close of every month be sent to the CPFC.
A monthly return of contributions in the prescribed form 6 has to be filed with the commissioner within 25 days of the close of the month.
Annual return of contributions in form 6 A reflecting the employer and employees contribution in respect of each employee is to be submitted within one month of the close of the period of currency to the commissioner.
LIST OF FORM USED IN THE ENTERPRISES
Sl.no Forms Purpose of form
1 2 Application for new joining of employee
2 5 List of employees additional in the establishment(give in every month )
3 10 List of employees reliving from the establishment(give in every month )
4 12A Monthly return
5 3A Individual annual remittance list (once in a year or time of reliving)
6 6A Annual return
7 13A Application of transfer of PF number from one establishment to other
8 19 Application for claiming PF amount due
9 10C Application for claiming withdrawn amount
10 10D Application for claiming pension amount
11 31 Application for loan and advance to member
12 SSN Application for social security number[/B]
With Regards ,
3rd December 2010 From India, Bangalore