Employees Provident Fund (EPF) is an insurance scheme controlled by the Employees Provident Funds and Other Provisions Act of 1952. It is administered through the Employees' Provision Fund Organization (EPFO), one of the largest social security institutions, of its customer base and the volume of financial transactions. In basic terms, EPF registration online is a kind of benefit to an employee at retirement provided by the company.

What is the reason it is important for employers to sign-up for EPF?

Since TDS is taken out of employees' wages, EPF registration online is an essential step for employers. Additionally, employers will be required to process remittances following employers have issued challans on the EPFO Employer Portal. So, they must adhere to the procedure.

Its most major benefit is that it protects the risks that employees and their families could be exposed to because of ailments, retirement, or the death of a loved one.

The Employee Deposit Linked Insurance Scheme (EDLIS) This scheme is open to all PF members. The rules state that life insurance costs are taken out at a rate of 0.5 percent of the total wage.

Long-term goals: Many long-term goals, such as the wedding of a child or the pursuit of higher education, require immediate access to funds. In these cases, accumulating PF funds could be very beneficial.
Unexpected events: Emergencies like weddings, family celebrations, or any other illness or accident need immediate financial assistance. This amount can be extremely beneficial.
Pension coverage: In addition to the employee's contribution, which is 12 percent towards EPF. Employers pay the equivalent amount of 8.33 percent of an Employee Pension Scheme (EPS).
The validity of EPF employer registration is based on the validity of EPF.
EPF registration online is required for every establishment.

A factory is in operation in any area with at least 20 employees.
Any other establishment employing 20 or more workers or is a class of establishments controlled by the Central Government may, by notice, make a specific statement that they are subject to this.
The Employer is required to supply the email address as well as the mobile number of the authorized employee.

Contact Person
Employers must provide information regarding the contact person, like a manager. The information needed includes the name, birth date, PAN for gender, date of appointment, and address details.

Identifiers
The identifiers are the license information that employers have to give.

Employment details
The information about employment that has to be made public includes the strength of the employee as well as gender, work type, work, the number of wages over the threshold, and the Total wage.

Branch/Division
Branch details such as name/premise number and Branch details such as name/premise number (Labour ID number) and address.

Activities
Employers have to enter the NIC Code (National Industrial Classification) and select the kind of their company and the tasks they will be able to include in the drop-down lists of tasks offered.

Documents Required for EPF Registration

The following documents should be added to the "Registration Form for EPFO" by the Employer. This includes:
1. PAN Card of the Proprietor/Partner/Director.
2. Proof of address, like an Electricity Bill, Water Bill or Telephone Bill from the Registered Office (not more than two months).
3. Aadhar Card of Proprietor/Partner/Director.
3. Store and Establishment Certification/GST Certificate/any license given by the Government to the establishment.
4. Digital Signature of the Proprietor/Partner/Director.
5. A cheque that has been canceled or a bank statement of the entity.
6. A Hired/Rented/Leased Contract, if there is one.
7. A license Certificate is issued by the Identifier/Licensing Authority.

Frequently asked questions:

How do I use Form 5?

Section 36(2) in The Employers' Provident Fund Scheme, 1952 refers to Form 5 of the EPF. This form permits organizations and the EPFO to track the number of individuals who are brand new to the program. After an employee is accepted into the scheme and registered, they will receive a Universal Account Number that will be used to pay both the employee and Employer's contributions.

The Employee Provident Fund Organization ensures that all businesses under their jurisdiction participate in EPF. The Employer must offer EPF benefits to all employees. EPF service to everyone, its employees.
You can Download the EPF Form 5 on the official website from EPF. Form 5 must be completed by the company for every new employee before the 15th of each month.

What is not included in wages under EPF?

Below are the organizations that are exempt from receiving wage payments following the provisions of the Employee Provident Fund:
1. Overtime Allowance (OTA)
2. Bonus
3. Food Allowance
4. Dearness Allowance (DA)
5. House Rent Allowance (HRA)

What are the reasons why an employer should be registering their establishment on EPFO Portal?

The employers have to pay payments only after generating an employer portal from the EPFO. This is why it is required that employers register online. New EPF registration online must be done online since the traditional process is no longer required.

How can you resolve the errors that pop up when registering the establishment?

If the Employer is trying to register, the following error messages may pop up:
1. "No Record Found" upon entering the establishment ID. In this case, the Employer has to confirm the extension number and contact the EPFO office. The Employer should call the relevant EPFO regional or sub-regional office if the information is correct.
2. "Your establishment is already registered" after entering the establishment's id. In this situation, the Employer must confirm the code number and extension number, if there is one, and the proper EPFO Office. The Employer will be provided with the form to be completed with the signature of the signatory or Employer to the office. After getting an SMS after a successful registration reset, the company can apply for registration and re-register.

What can an employer do to modify the registration details after registration?

The Employer can alter the information on the Portal if the necessity arises. The PF registration procedure is explained in the following paragraphs:

Mobile Number: The Employer must sign in to their Employer Portal. After that, click "Edit the primary number of mobiles" in the section "PROFILE." Suppose the Employer enters their new number. And an email with the PIN to this new phone number should be sent from the company. Enter the PIN and then click "Change Primary Mobile." A confirmation SMS will be sent to the new mobile number, the main phone number.

Email ID: Employers must sign into their Employer Portal. In the "PROFILE" menu, Click on the link "Confirm your primary email." The Employer will need to create a new email address in place of the ID shown. After that, click on "Send Verification" and "Send Verification link."

A message sent via email will be delivered to the email address registered. Employers must access your email address and click on the message link. The verified email address is recorded in the system, so shortly, every email will now be delivered using the updated account.

If an employer or an authorized signatory operates multiple locations, should they be able to obtain registrations for all establishments?

The EPF registration online process must be completed at each establishment.

What happens if the Employer doesn't remember the username/password to log in to the Portal?

If the Employer cannot remember the password or user ID and the password is not remembered, then the company must select "Forgot Password" or click on the "Forgot Password" link on the login screen. The password can be reset using the establishment ID, the primary email address, or the mobile number. So, these were some rules and regulations for EPF. If you are looking for online CA services, Legalpillers would be the best choice for you.