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When does a firm need to go for PF Registration?
- A business entity with 20 or more employees needs to get PF registration done. However, the employees with the Basic + DA in their salary over Rs 15,000 per month, have the option of opting out of the PF contribution by the company.
- A company with more than 6 employees (but less than 20) has the option of registering for PF if they want. However, for this, a consent letter for this is needed from each of the employees.
Filing with Ministry
- PAN Card copy of the company
- TAN Number of the company
- Incorporation Certificate (in case of Pvt Ltd/ OPC/ LLP)
- Registration Certificate (in case of Registered Partnership Firm)
- Partnership Deed (in case of Unregistered Partnership Firm)
- Photo of all the Directors/ Partners/ Proprietor
- Proof of address for business premises (Rental agreement if rented, Property tax paid challan + NOC if owned by partner)
- Electricity bill copy for the address of the business premises.
- Bank Statement (last 3 months)
- Valid Digital Signature (DSC) of one authorized signatory
- PF Form acknowledgment copy
- Login credentials for PF site
- PF Certificate
Why choose Wazzeer?
One platform for all your requirements
Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.
Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.
Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.
You pay what you see in the proposal. No surprises or hidden charges.
Frequently Asked Questions
What if I have less than 20 employees and do I still need PF benefit for my employees?
For companies with less than 20 employees, PF registration is not mandatory. In case a company has less than 20 employees, it can opt for a voluntary registration process. A minimum of 6 employees is needed for this. However, to avail this, every employee is needed to give his/ her consent individually that he/ she is willing to avail PF benefits.
What are the benefits of PF Registration?
PF is an investment tool offering good returns in the range of 7.5% to 8.5% and is tax exempted. An employee can avail the benefit of loans or partial withdrawal of the PF amount in case of emergencies.
In case of death during service, an insurance of INR 2 Lakh will be given to the next of kin apart from the accrued PF.
What is the deduction I need to make for PF?
Employee should contribute at least 12% of Basic + DA towards PF. However, he has complete liberty to contribute at a higher rate but not more than 50% of his gross salary
Employer should contribute at least 12% of Basic + DA towards PF. However, when the employee contributes at a higher rate than Employer is not under any obligation to contribute at the higher rate.
If the establishment has less than 20 employees or if the establishment has at the end of any financial year, accumulated losses equal to or exceeding its entire net worth this minimum contribution is brought down to 10% of Basic + DA
If I have less than 20 employees in each business place but including my multiple places of business I have more than 20 employees, do I need to go for PF Registration?
Yes. If your total employee count is more than 20 then you will have to go for PF registration irrespective of the number of places of business. All your employees will get PF benefit.
What are the filings we will need to do after PF registration?
Using the login credentials that you get on the PF department website, you will have to deposit your (employer) contribution and employees’ contribution to the PF department. You will have to generate the UAN (Unique Account Number) and PF number for each employee and should share it with your employees.
Is there any renewal needed for PF registration?
No. Once the registration is done, you just need to do the monthly filing and deposit the requisite PF to the department. However, if you close the company, you will have to intimate the PF Department within 45 days of such closure to avoid penalties for not filing the returns.