Annual Compliance

In India Employee Provident Fund (EPF) Scheme introduced in 1952.The EPF scheme is regulated under the Employees Provident Fund Organization (EPFO).It is a retirement benefit scheme where, both the employer and the employee, contribute a certain sum every month till the employee is working. EPF Scheme provides tax benefits as well as higher interest rates than other saving schemes.

Provident Fund (PF) registration is mandatory for all establishments with 20 or more employees.

Employee Provident Fund

Who is eligible to get PF Registration?

For the salaried employees Basic + Dearness allowance is less than 15,000/month, then it is mandatory to get the EPF registration by the employer.

Percentage of PF Contribution

Employer Contribution: 12%

Employee Contribution: 12%

Note: EPFO rules state that if the establishment has engaged less than 20 employees then contribution rate for both the employees and the employer is restricted to 10 %.

PF Return Filing

The employers have to file the PF returns to be completed by the 25th of every month.

Type of PF Forms

Form 2

Declaration and Nomination Form under the Employees Provident Funds (EPF) and Employees Pension Schemes (EPS). Form 2 filed by the employees. After marriage, the form 2 has to be filled again.

Form 5

The Employees Provident Funds (EPF) Form No 5 record the initial information of employers and new employees.

Employers have to submit Form 5 every month to notify the EPFO about new employees.

Companies have to mention "NIL" on the Form 5 under employee details in case there is no new recruitment in a given month.The deadline for submission of Form 5, 25th day of the month succeeding the month of employment.

Form 10

Employer Notifies EPFO when an employee leaves an organisation.Form 10 can be used to withdraw contributions made towards EPS.

Form 10 contains,

  • Account Number & Name of the Employee

  • Name of the father/husband

  • Date & Reason of leaving the service

Annual PF Return Filing

Form 3A

Form 6A

Serves as month-wise contribution to the members.

Form 12A

Informs EPFO regarding the surplus income for non-profitable trusts to be exempted from income tax.

Consolidated annual statement that includes details regarding the annual contribution of each member of the establishment.

Documents Required For PF Return Filing

  • Aadhaar Card

  • Pan Card

  • Bank Statement

  • Balance Sheet

  • Incorperation Certificate

  • Monthly Pay Sheet

  • PF Contribution

  • Payment Chellan