Manthan Experts

EMPLOYEES’ PROVIDENT FUND REGISTRATION

Blog, Payroll (PF & ESIC)

 Introduction

The Employees’ Provident Fund Organisation (EPFO) is a statutory body under the   Ministry of Labour & Employment, Government of India. This portal allows both employer or employees to access and manage services related Employees’ Provident Fund (EPF), Employees’ Pension Scheme (EPS) and Employees’ Deposit Linked Insurance Scheme (EDLI).

 

What is EPF?

The Employees’ Provident Fund Scheme (EPF) is a government-backed retirement savings plan that ensures financial security for employees through mandatory contributions from both the employee and employer

EPF Eligibility

  • Basic pay and dearness allowance is up to Rs. 15,000 is mandatorily required
  • If the amount later exceeds Rs. 15,000, the contribution will be calculated as a percentage of Rs. 15,000
  • If such limit exceeds Rs.15,000, the employee can still opt for voluntary contribution

 Contribution Details

The contribution by the employer (establishment with more than 20 employees) to the Provident Fund is 12% of an employee’s basic salary plus dearness allowance (DA) upto Rs.15000, split into 3.67% for EPF and 8.33% for EPS

 

1. Incomplete or Incorrect Information

 Benefits

Guaranteed Returns: The EPF is a government-backed scheme that offers guaranteed returns, reviewed annually

Retirement Savings: A portion of your salary is contributed to the EPF, which accumulates interest over time, providing a secure retirement fund

Pension Scheme: Members are eligible for a pension after retirement, ensuring financial stability in old age

Insurance Benefits: EPFO provides life insurance coverage to members, adding an extra layer of financial security

Taxation & Exemption

  • Employee’s contribution towards EPF can be claimed as a deduction upto Rs. 1.5 lakh under Section 80C in the old tax regime only.

     

    Employer’s contribution of upto 12% of the basic salary is exempt from tax under both the new and old tax regimes. If employer contributions to EPF, NPS, and superannuation funds exceeding ₹7.5 lakh per annum is taxable in the hands of the employee

     

Shram Suvidha Portal

  • The Unified Shram Suvidha Portal facilitate ease of reporting at one place of various Labour laws (including ESIC, EPFO and other Labour Laws) consolidated information of Labour Inspection and its enforcement. The establishment will be able to register & apply for ESIC and EPFO

     

    The employers will be allotted Labour Identification Number (LIN) after registration on web portal. The enforcement agency will upload the data of inspection on the web portal which will be updated periodically

     

    Registration Process through Shram Suvidha Portal

    Visit https://return.shramsuvidha.gov.in/user/register and click to signup given on top right-side corner of the login page 

     

   Step 2

Enter the details and click ‘signup’ to create an account

 

    Step 3

Select Registration for EPFO-ESIC v1.1 from left panel

  • Errors in name, address, or other personal information.
  • PAN or Aadhaar mismatch with tax department records.                 

Step 4:

Apply for New Registration

Step 5

Note: Select both incase if you want to apply for both

Step 6

Registration Form will appear. Employer need to fill the following details

  1. Establishment Details
  • Establishment details to be provided are the Name of the establishment, Address, Incorporation Date, PAN and Type of establishment
  • In case of Factory then details to be provided are the Factory License Number, Date of License and Place of issue of License
  • Incase MSME, provide MSME registration details
  • In the case of Startup, provide Startup registration details

Fields that are not mandated for EPFO registration will be disabled. Kindly ignore disabled fields

  1. eContacts
  • Enter communication details for the establishment, such as primary email and mobile number
  • After filling, click to verify eContact

Note: Until the given number or email is verified, submission of the form cannot be allowed

  1. Contact Persons

 

  • Enter details of the Primary Manager / authorised person who is responsible for compliance of the establishment                  

4. Identifiers

Identifiers include government-issued IDs such as PAN, Aadhaar, etc of Establishment / Authorised person

6. Branch/Division

7. Activities

Provide the nature of business by using NIC (National Industrial Classification)

  • Sending signed ITR-V to CPC, Bengaluru 

 

8. Attachments

Note: Only jpeg, png, pdf file type allowed

    9. View the summary of the registration form from dashboard and submit

 

   10. Attach the Digital Signature

 

   11. System displays message on successfully submitting the Registration form

 

   12. Employer will receive an email from Shram Suvidha

List of Documents to be Attached

  • Copy of PAN
  • Proof of Address

 

  • Date of Setup Proof
  • License Proof
  • Specimen Signature (Authorized signatory)
  • Copy of Cheque
  • Hired/Rented/Leased
  • Agreement between employer and employee is required, only in case of voluntary coverage

 

Conclusion

Navigating Employee Provident Fund (EPF) regulations may seem complex, but understanding and complying with them offers immense financial security for your workforce and operational benefits for your business. EPF builds a substantial retirement corpus through combined contributions from both the employee and employer, providing your staff with tax-free annual interest, life insurance coverage, and pension benefits.

While registering as an employer with the EPFO is mandatory if you have 20 or more employees, it goes well beyond basic compliance. It brings key advantages like vital legal protection and keeps your employees engaged, secure, and satisfied. To make this easier, the Ministry of Labour & Employment has developed a single unified Web Portal to streamline the online registration of units, reporting of inspections, and submission of Annual Returns, ensuring transparency and a simplified compliance process.

If you require assistance with EPF registration or ongoing labour law compliance, Manthan Experts can be your trusted advisor. Contact them at info@manthanexperts.com to discuss your specific needs and explore how their expertise can benefit your business.