Who Handles Employee PF Accounts: HR or Finance? Let's Clarify the Responsibilities!

In a company, which department is responsible for operating the PF accounts of employees - HR department or 'Finance & Accounts' department? If it is a joint responsibility, who is responsible for which part of the work? For example, if filling PF forms from employees is HR's responsibility, who is responsible for opening the PF account and the statutory compliance? Please clarify!

Thanks & Regards,
Pallavi

Generally, it is HR's responsibility. However, if there is no Personnel Department, then it becomes the Finance Department's responsibility.

With Regards,
Vineet Deshmukh

Thanks to both of you for the replies. I have another question: Our company is a start-up, and we need to open our company PF account with the PF office. Who is responsible for opening the company PF account with the PF office—HR or Finance?

Best Regards,
Pallavi

Normally, PF, ESI, etc., related matters are handled by the HR/Personnel department of a company, and the Finance department supports them by making funds available for the liability to be paid and getting it deposited. The legal formalities, registrations, form-filling, etc., have to be done by the HR/Personnel department only.

In a startup, you can discuss with the management and fix the responsibilities that each of the departments would be handling. I hope this would help you.

Thanks,

Regards,
Avika Kapoor

General Manager - Business Development

E-174, Kalkaji, New Delhi-110019

[Phone Number Removed For Privacy Reasons]

Website: http://www.kapgrow.com