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Frequently Asked Questions
Here the top 10 frequently searched questions about Provident Fund (PF) withdrawal, PF registration, and ESIC registration.
What is the process for PF registration?
Employers must register their establishment with the Employees' Provident Fund Organization (EPFO) by submitting the required documents, including the registration certificate under the Factories Act or Shops and Establishment Act, PAN card, and details of employees.
Who is eligible for PF registration?
PF registration is mandatory for establishments employing 20 or more persons. However, certain organizations with fewer employees may also be required to register, depending on state-specific regulations.
What is the process for ESIC registration?
Employers must apply for ESIC registration by submitting Form 01 within 15 days of the Act becoming applicable to their establishment. Upon successful submission, a 17-digit unique code number is allotted, which must be used in all correspondence related to the scheme.
What documents are required for ESIC registration?
Required documents include the registration certificate or license issued under the Shops and Establishment Act or Factories Act, address proof, Memorandum and Articles of Association or partnership deed, PAN card, and details of employees such as salary and attendance records.
Is it mandatory for employers to register under ESIC and PF?
Yes, it is a statutory responsibility for employers to register their establishments under the ESIC and PF schemes if they meet the eligibility criteria regarding the number of employees and wage limits.
How can an employee withdraw PF?
Employees can withdraw their PF balance by submitting a withdrawal claim through the EPFO portal. The process requires the employee's Universal Account Number (UAN) to be activated and linked with their Aadhaar and bank details.
Is PF withdrawal taxable?
PF withdrawal is tax-free if the employee has completed five years of continuous service. Withdrawals before five years are subject to Tax Deducted at Source (TDS) at 10% if PAN is provided, and 34.608% if not. No TDS is deducted if the withdrawal amount is less than ₹50,000.
Can an employee withdraw PF without employer approval?
Yes, employees can withdraw PF without employer approval if their UAN is linked with Aadhaar and bank details, and the KYC process is complete. This facilitates online submission of the withdrawal claim directly through the EPFO portal.
What are the conditions for PF withdrawal?
Full PF withdrawal is permissible upon retirement after attaining 58 years of age or if unemployed for more than two months. Partial withdrawals are allowed for specific purposes like medical emergencies, education, marriage, or home purchase, subject to certain conditions.
What is the time frame for PF withdrawal processing?
PF withdrawal claims submitted online are generally processed within 20 working days. However, the actual time may vary depending on the case and the EPFO office handling the claim.