PF RETURN FILING – DUE DATE & PROCEDURE OF WITHDRAWAL OF PF

The Employees’ Provident Fund is an employer and employee sponsored scheme, which is governed under the provisions of the Employees’ Provident Fund Act, 1952, recently Rules 2020 were added.

Under this scheme, the employee is served with a lump sum amount at the time of his/her retirement, this amount is contributed by the employee and the employer in the pre-decided percentage of the total Basic Pay for Employee’s Pension Scheme. The scheme benefits all the employees in the private as well as govt. sector.

HOW DOES EPF WORKS?

Under the provisions of the EPF Act, all businesses who are working with above 20 employees are required to sign in with the EPFO. While a person starts operating in an established order with more than 20 employees, each person, i.e., both the employee and the company, are required to contribute 12% of the basic pay to the EPF account.

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274.

At the same time, as the entire 12 % of the basic pay is directed toward your EPF account, such isn’t always the case with the organization’s contribution. Even though the organization suits your 12% contribution, the simplest 3.67% of the contribution is going into your EPF account. The closing 8.33 per cent of the enterprise’s contribution is directed toward your worker’s Pension Scheme.

The authorities swimming pools all such funds with the help of trusts which, in flip, invests them in securities and generate a hobby charge within the range of 8% p.a. and 13% p.a. Your EPF account remains energetic so long as you’re being paid through your corporation.

Employees can add with the new organization with their EPF account details in the event of a job change. This can ensure that contributions toward the EPF account retain even after switching to any other business enterprise or establishment.

DOCUMENTS REQUIRED FOR REGISTRATION OF UNDER EPF

In case of an organization;

In addition to the above-mentioned documents, the entities such as the proprietor, society, trust, etc. have to submit the following details;

 For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274.

WHAT IS AN EPF FORM?

For any kind of work related to an employee’s provident fund, the most important thing is EPF Form, through which all the related works can be done such as registration, transfer, etc. there are different types of Forms related to EPF which are described as under:

Form 2: for nomination and declaration of a beneficiary 

Form 5: is used for registration.

Form 10D: is used for monthly pensions.

Form 11: is required for transferring the PF account.

Form 20: is used for settling EPF in case of death.

Form 31: for EPF withdrawal.

WHAT IS A UNIVERSAL ACCOUNT NUMBER? HOW IT RELATED TO EPF?

UAN is a 12 digit number provided to every member of the EPF scheme. Through it, an employee can easily manage his PF account. It is required when an employee wants to withdraw his PF in times of need.

To activate the Universal Account Number, the following steps must be followed;

PROCESS OF WITHDRAWAL OF PF:

Physical Method or Online Method-

Physical method (FORM 31);

1. You can directly submit a composite ‘Claim Form’ on the www.epfindia.gov.in using your own Aadhar Card. Additionally, attach a cancelled cheque along with the form.

2. In case you don’t possess your Aadhar card no., you can therefore submit the form on the official website through PAN Card if the total service period is less than 5 years and UAN if it’s more than 5 years.

3. If you don’t have both PAN and UAN, there you shall only provide your PF a/c number.

Online method;

1. You must visit the EPFO portal and select ‘services for employee’ from ‘our service’ portal, thereafter fill up the login details.

2. Click on ‘Manage’>Select KYC to confirm details.

3. Go to the ‘online services’ and select ‘claim’.

4. The details of the member will be shown on the ‘claim’ screen.

5. Proceed for ‘online claim’.

6. Select the type of ‘claim’ you require. 

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274.

Online transfer of EPF amount from one employee to another?

1. Open up the website of epfindia.gov.in

2. You, therefore, ‘click’ on the online claims member account transfer.

3.’Login’ must be done by filling in the required information.

4. Go to online services. Therefore click on ‘One Member-Once EPF A/C’.

5. You have to fill up the details of your previous EPF accounts.

6. The last step is to authenticate the OTP and then submit it.

ELECTRONIC CHALLAN CUM RETURN: E-EPF RETURN FILING

Step1: Enter the unified web portal for EPFO.

Step2: Check the PF code, Address, and exemption status.

Step3: Select ‘payment’ menu for ‘ECR Upload’.

Step4: Select wage, Salary disbursal date’ in the same ECR screen.

Step5: Format of the ECR can be seen from the “ECR Help File” button available on the 

screen.

Step6: Select the ECR Upload File to be uploaded for the selected month.    

Step7: Do mention the rate of the contribution made to the EPF.

Step9: Click the upload button.

Step10: Uploaded ECR file, verified and validated for predefined conditions.

Step11: TRNN will be generated for the uploaded ECR file.

Step12: Click the ‘prepare challan’ button to generate the ECR summary sheet.

Step13: Enter inspection and administrative charge for A/C no.2& 22.

Step14: Click on the ‘Challan button.’

CONCLUSION:

The EPF was constructed to provide a helping hand to the employees in times of emergencies, needs, etc., through financial help. The employer has also been made an instrument contributor for the EPF, as it is considered to an ethical and moral duty to provide his employee with financial security as he devotes a large chunk of his life’s time into the organization he works for. EPF acts as a financial stabilizer for the employee, which can be used in his unstable times.

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274.