The eligibility criteria of Provident fund registration
As now you know the provident fund is very important for an employee and you may have some queries about what are the criteria for this fund or if you are eligible for this fund registration or not. Right! Here are some eligibility criteria for provident fund registration are given below.
• a factory is eligible if the factory is engaged in some specific industry bearing a workforce strength of 20 or more.
• other criteria are any establishment of having more than 20 employees or a group that is specified on behalf of the central government through the notification.
It is very important if any employer recruits 20 employees or may lead to any penalty then the employer must obtain provident fund registration within 1 month. In some cases, the central government may apply expenditures to any organization to have the employee lower than 20 after a 2-month notice of the mandatory registration. For some organizations, it could be necessary that with a few employees, they have to obtain provident fund registration. But you need to remember that this comes under voluntary registration.
Procedure or process to register for provident fund
If you are looking for the process of registering for the provident fund or if you are an employee who is willing to register then here are the basic steps that you just need to know. Those steps are given below accordingly to make it more simple for you.
• first you need to register any specific company for the provident fund. For that, you have to visit the website of EPFO to register your company there. On the homepage, you will find some options like ‘ establishment registration’. So you need to select that option for starting the process.
• then you have to download the user manual for further information. When you click on the establishment registration option then you can notice a page where you can able to get the user manual. Download that user manual and read it thoroughly if you are new to this process.
• after that, you need to register on the Unified Shram Suvidha Portal. For that, you need to sign up for this Unified Shram Suvidha Portal of EPFO. There you need to fill up some options where they will ask for some basic information. Such as your name or mobile no verification code and email address to create an account there.
• then you need to fill up the registration forms over there. So you just go and log in to USSP and start the registration process for EPFO. Then click on the ‘apply for new registration’ option that will show on the right side of the screen. Then you will find two options there and as an employer, you have to select the option called ‘Employees Provident Fund and Miscellaneous Provision Act 1952’, then click on the submit button.
After clicking the submit button, there you will see the registration form of EPFO will display. There you need to put all details like employment details, contact persons, establishment details, branch, and identifiers as well.
• after you file the form and attach all documents that are required, the employer’s digital signature certificate needs to be uploaded on this form. Then finally, the Unified Shram Suvidha Portal will send you a confirmation email that the provident fund registration has been completed.
Documents required for provident fund registration
To register for the provident fund, you have to submit some documents. Here is the list of those documents is given below.
- Bank statement
- Cancellation cheque of entity
- Digital signature of director and partner
- Hired or rented agreement
- The Aadhaar card of the director and partner
- PAN card of the director and partner
- Establishment certificate or any license of the establishment by the government
- Address proof, such as electricity bill, water bill, or telephone bill of the registered office.
How TaxSavvy can help you?
We discussed some basic information about the process of registration for provident funds. But some more steps are also very important and as a reader or if you want to register for provident funds then some queries may come to your mind. Such as if there are any other ways to register for provident funds or if an employer has multiple establishments then what to do? Right? We are here to help you and will guide you through the process of registration.
TaxSavvy works for you to simplify all registration processes properly with all required documents. We aim to satisfy our clients with our workability. So if you are planning to register for provident funds then feel free to contact us. We always try to make every work perfectly done and that is our key point. For further information, you can visit our official website.
