Dear seniors, I am working in an ad agency with a staff of 45 employees. It's a 5-year-old agency in Bangalore, but it is not registered under the PF account. Please advise me on how to register under the PF account and if there are any penalties for delays in filing returns or challans.
Documents Required for Registration
Additionally, could you please provide information on the documents required for registration?
Regards,
Ritu
From India, Bangalore
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1Documents Required for Registration
Additionally, could you please provide information on the documents required for registration?
Regards,
Ritu
From India, Bangalore
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Please go through the EPFO Registration Process
Please go through the http://epfindia.com link and adhere to the same. You can download the forms, fill them out, and approach your district PF Commissioner's Office to get the registration done. When approaching the office, please mention that you are doing so on a voluntary basis and not in response to any notice.
Our members can guide you through the procedures up to a certain level, but in practice, it may be a bit different. Take the list of your employees for whom you plan to deduct the PF along with the form. The PF Commissioner's office will assign you an Establishment Code, and from that point on, you can start deducting the PF.
Regards
From India, Kumbakonam
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Please go through the http://epfindia.com link and adhere to the same. You can download the forms, fill them out, and approach your district PF Commissioner's Office to get the registration done. When approaching the office, please mention that you are doing so on a voluntary basis and not in response to any notice.
Our members can guide you through the procedures up to a certain level, but in practice, it may be a bit different. Take the list of your employees for whom you plan to deduct the PF along with the form. The PF Commissioner's office will assign you an Establishment Code, and from that point on, you can start deducting the PF.
Regards
From India, Kumbakonam
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Yes, any establishment having more than 20 workers has to be covered under PF/ESI (now they have proposed to 10 employees). You have to register for both ESI and PF. Attaching the list of documents needed to obtain ESI and PF code for your organization. Penalties will be there, but they will be recovered after you file your returns. (Penalties/damages will be collected for both PF & ESI). Your company has been running for 5 years; are you covered under the Shops & Commercial Act? It would be better to engage a consultant who can assist in obtaining all the necessary licenses to proceed further.
Thanks and regards
From India, Mumbai
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Thanks and regards
From India, Mumbai
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Can any one tell me what a new joinee has to do regarding deduction of PF, my accounts department is saying you don’t have to fill up any form.
From India
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From India
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Dear Sir, As I'm working as an Admin/Accounts Executive in a recognized organization in Visakhapatnam, we are planning to implement PF for our employees, and we have a staff of 36 employees. However, I am unfamiliar with the process for PF implementation. Therefore, kindly guide me on how to complete the process.
Thanks & Regards,
Tirumala Rao
From India, Bangalore
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Thanks & Regards,
Tirumala Rao
From India, Bangalore
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First of all, YES, the establishment will be liable for a penalty under EPF. If you are wondering why, it is because it is mandatory for the establishment to be registered under the EPF Act when it has a staff of more than 20 employees. EPF challan cannot be submitted online. (for [Email Removed For Privacy Reasons])
Now the solution:
Register under EPF as soon as possible.
This part must not be followed:
Show that the establishment has more than 20 employees for the last 2 or 3 months before registration. This way, your liability for a penalty (Section 14B & 7Q) will be reduced.
Now the hard part (still not recommending it): you have to prepare balance sheets and other documents to show the above. (if the inspection is being carried out by EPF officials)
Important:
The penalty would be 100% (i.e., the amount deposited by the employer through challans for the last periods), and the interest would be equal to the amount announced by the EPF office yearly (say 9.5% for the last year).
Stay Cool
Regards,
Atom
From India, Phagwara
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Now the solution:
Register under EPF as soon as possible.
This part must not be followed:
Show that the establishment has more than 20 employees for the last 2 or 3 months before registration. This way, your liability for a penalty (Section 14B & 7Q) will be reduced.
Now the hard part (still not recommending it): you have to prepare balance sheets and other documents to show the above. (if the inspection is being carried out by EPF officials)
Important:
The penalty would be 100% (i.e., the amount deposited by the employer through challans for the last periods), and the interest would be equal to the amount announced by the EPF office yearly (say 9.5% for the last year).
Stay Cool
Regards,
Atom
From India, Phagwara
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Digitisation of Provident Fund Records & Documents.pdf
Provident fund.zip
PROVIDENT FUND.rar