Employee Provident Fund (EPF) is an employee benefit provided by his/her employer which supports the employee after retirement. For providing EPF to employees, employers need to get registered. But do you know how to open an Employee Provident Fund (EPF) account online? In case you don't know how to open pf account for employee or how to open epf account then in this article, we’ll discuss the pf account open, epf account opening process, epf account opening online, epfo account open, how to open EPFO account online, EPFO establishment search and process new pf account open.
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Employee Provident Fund (EPF) Scheme was regulated by the EPF Organization (EPFO) under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. EPF registration is mandatory for every establishment which is:
Any establishment which is employing less than 20 individuals may be applied by the Central Government after providing at least two months’ notice for compulsory registration.
In cases where the employer, along with the majority of his employees, has decided to make provisions of the Act applicable to the establishment, they may apply the establishment to the central PF Commissioner themselves. The provisions of the Act may be applied to the establishment after the Central PF Commissioner notifies the Official Gazette from the agreement date or any date which the agreement specifies.
PF registration may also be required to be obtained by certain establishments with less than 20 employees, but such registration will be voluntary. Every employee of the establishment will be eligible for EPF from the date of their employment. The employer will be responsible to deduct and pay the EPF to his employees.
The rate of EPF contribution at 12% will have to be divided between the employee and the employer equally. The contribution of the employer will include 12% of basic wages with additional dearness allowance and retaining allowance. In case the establishment has less than 20 employees, it will deduct EPF at a rate of 10%.
The documents required for EPF registration of different establishments are as follows:
For employers’ EPF registration, the following steps need to be followed:
Step 1 – Go to the EPFO website and register your organization under ‘Establishment Registration’
Step 2 – Upon clicking ‘Establishment Registration’ you will be given an ‘Instruction Manual’ which you should download and read before proceeding.
Step 3 – In case you are already registered, log in with your UAN and password. Read the instruction manual to know the procedure for employer registration and DSC registration. Digital Signature Certificate (DSC) registration is required for a fresh ERF registration.
Step 4 – Tick the declaration and click ‘Register’.
Step 5 – Fill the employer’s details.
Step 6 – Select a Username which is available
Step 7 – Select a hint question and a hint answer for your password. Enter the captcha code and click on ‘Get PIN’.
Step 8 – You will receive the PIN on the registered mobile number. Enter the PIN and tick the declaration box
Step 9 – You will receive an e-mail verification link on the registered e-mail id. Click this link to submit the online EPF registration application of the establishment.