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In India, people save a lot through Provident Fund. Provident Fund provides financial independence once you leave your job or at the time of retirement. Provident Fund registration is one of the statutory compliance where there are 20 or more numbers of people working in the business firm. Both employers and employees make contributions to their provident fund. A part of an employee’s salary goes for contribution to the Provident Fund.
You need to be careful in Provident Fund Registration as there is a time deadline for the same and also, it involves huge penalty payment on non-adherence to stipulated time deadline. We have a team of expert professionals to help you resolve this part of your company’s compliance, we provide services of Provident Fund registration that includes filing of the application, submission of required documents as well as follow up with the Government Department for timely issuance of registration number to your company.
Any Employer with more than 20 employees requires to get PF registration done within a specific time deadline.
Savings done through PF can be used by employees through withdrawal in exigencies, education, marriage, etc.
All types of employees, i.e. full time employees, part-time employees, contract basis employees, consultants, etc. are to be counted and considered for determining strength of employees of a firm.
A secured way to save money, returns on the PF are not affected by equity market fluctuations, has tax savings benefits, funds from the PF can be availed at the time of emergency, etc.
PF registration requires filling up of an application form along with the correct details about the business and employees.
All the relevant documents need to be scanned and submitted by the business entity.
DIN (Director Identification Number) and DSC (Digital Signature Certificate) of the selected key Directors of the company to be obtained from Ministry of Corporate Affairs for smooth processing of PF registration online.
Once the PF registration form is filled along with all the relevant documents uploaded and digital signatures approved, by submitting this form, PF number is given.
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