Provident Fund Registration (PF)

Tax Efficiency

PF investments are recognized for their tax-saving benefits. Eligible for deduction under section 80C, PF investments can significantly reduce employees' tax liability. With tax-free proceeds upon retirement, employees can invest up to 1.5 lakh annually in PF.

Statutory Compliance

PF Registration becomes obligatory once an entity surpasses a specified employee count. Once registered, PF status remains irrevocable, regardless of fluctuations in employee numbers.

Retirement Security

PF serves as a pivotal tool for retirement planning, providing employees with a reliable avenue to accumulate savings. Under the MIS scheme, accumulated PF funds can be utilized to receive a fixed monthly payout post-retirement.

Enhanced Employer Appeal

Employers with PF registration enjoy heightened credibility among employees. PF registration not only attracts top talent but also fosters employee retention.

Insurance Coverage

EPF contributions are linked to an insurance scheme known as the Employees Deposit Linked Insurance (EDLI) Scheme. In the unfortunate event of an employee's demise during service, the nominee is entitled to a lump-sum insurance payout.

Mandatory documents for PF application include:

• PAN card of the establishment

• Certificate of incorporation

• Cross-cancelled cheque of the establishment

• Establishment's address proof (e.g., rent agreement, utility bills)

• Specimen signature of directors and authorized signatories

• Digital signature of the authorized applicant

• In cases of voluntary registration, consent of the majority of employees may be necessary

• Additional documents may vary based on the entity type and include GST registration certificate, bank details, monthly employee strength records, and salary registers.