How to Create EPF Account?

The Employees Provident Fund Organization (EPFO) is managing the Employees Provident Fund (EPF). According to this organization, only an employer can create an EPF account on behalf of its employees. No person can open an EPF account of his/her own free will.

Eligibility criteria for employers for EPF registration

EPF registration is legally mandatory for every establishment if it meets the criteria given below:

• A factory is involved in any industry having at least 20 or more persons.
• An establishment employing 20 or more individuals or classes in such establishments as the Central Government may, by notification, specify in this behalf.

The requirement of documents for EPF registration

Different establishments require different documents for registration in EPF:

• Sole proprietorship:
Applicant’s name, PAN card, passport/driving license/voter ID, office premises and residence address proof, and phone number.

• Trust/society:
Address and identity proof of the President and members and Memorandum of Association (MOA), PAN Card.

• Partnerships:
Achievement of Partnership, address and ID proof of partners and registration certificate of firms.

• Limited Liability Partnership (LLP):
A comprehensive list of partners or directors with a certificate of incorporation, proof of their ID, and address.

Steps for EPF registration for employers

For EPF registration, the employer has to follow the following steps:

Step 1: Organization’s EPFO registration visit the EPFO website and register your organization under an integrated portal called ‘Establishment Registration’.

Step 2: Download and read the user manual registration After clicking the ‘Establishment Registration’ button, you will get an ‘Instructions / User Manual ‘option which you will have to download and read before proceeding.

Step 3: DSC Registration User Manual elaborates the process of Employer Registration which is followed by the Digital Signature Certificate (DSC) of the particular employer. If the employer is already registered, they can login along with their Universal Account Number (UAN) and password.

Step 4: Tick on the declaration and click on ‘Register’

Step 5: Fill the details of the employer, fill the name of the organization exactly as it is. Otherwise the application can been rejected by the Income Tax Department. Fill the mandatory fields marked with the red asterisk. Carefully, enter the establishment’s PAN. After PAN is verified, online registration is allowed.

Step 6: Select and write any of the usernames available.

Step 7: Choose a prompt for your password. Type on the captcha code and click on ‘Get Pin’.

Step 8: You will receive the PIN on your registered mobile number. Type the PIN and tick it on the declaration box.

Step 9: Some websites send an email verification link to your registered email address. Click on the link to submit the organization’s online EPF registration application.

Financial Year 2019-20
The interest rate has been fixed at 8.65% in the financial year 2019-20. The EPF interest earned is a tax- free. It achieves triple tax-exempt status (EEE) as the contribution for EPF is subtracted from income.

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