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.
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.
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…
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.
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.
Only Adhaar Number will be enough for registration. PAN & GST linked details on investment and turnover of enterprises will be taken automatically from Government data bases.
There will be no need for renewal of MSME registration hence the registration would be valid forever.
MSME in the manufacturing sector can be identified if: Micro enterprises – The investment doesn’t exceed Rs 25 lakh Small enterprises – The investment is more than Rs 25 lakh but doesn’t exceed Rs 5 crore Medium enterprises – The investment is more than Rs 5 crore and doesn’t exceed Rs 10 crore MSME in the service sector can be identified if: Micro enterprises – The investment doesn’t exceed Rs 10 lakh Small enterprises – The investment is more than Rs 10 lakh but does not exceed Rs 2 crore Medium enterprises – The investment is more than Rs 2…
Yes, you can surrender such Import Export Code number to the concerned authorities. The issuing authority shall cancel such IEC and transmit electronically to DGFT and customs authorities.
IEC in itself does not require you to file any specific returns.