Best Employees Provident Fund / PF Consultant near me
PF Consultant
PF consultant is a entity in the PF industry, actively committed to offering a fast and secure PF Registration Services. Take advantage of these best investment plans for your future. We help individuals to manage the salary tax-free to help both employer and employee.
ESIC Consultant
The ESIC Act 1948 was introduced by the government to provide the best security and medical facilities for employees and their families. We assist registered employees and their families who are eligible to get medical benefits ESIC Consultant near me.
PF Withdrawal
We help to submit the complete process of PF Withdrawal. As the withdrawal procedure requires members to submit various other documents including a resignation letter and a canceled cheque . We take care of everything and you don’t have to worry about any procedures.
PF Withdrawal Agents / Consultant near me
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WHAT IS EPF or PF?
The Employees Provident Fund or EPF is a retirement saving scheme supplied via way of means of the authorities for all salaried personnel in India, on which constant hobby is often paid.
The Employee Provident Fund is a prerequisite given via way of means of the business enterprise to their personnel over and above their simple remuneration – Online PF consultant in India.
WHY EPF REGISTRATION FOR EMPLOYER?
PF Registration is obligatory for all of the agencies which have 20 or greater personnel. Such agencies are required to make a contribution a hard and fast quantity in the direction of Employee Provident Fund out of worker profits and wages.
If a business enterprise fails to get EPF business enterprise registration, or indulges in fake illustration of statistics to keep away from PF price, he will be accountable for a penalty of INR 5,000/-.
PF Consultancy for Registration & Monthly Filling
These registrations are being managed by consultancy firms on a larger basis. One of the best-known firms in West Bengal is Chakraborty Consultancy- PF Consultant near me owned by Mr. Arnab Chakraborty. The consultancy is serving various industries by providing the facility of Online EPF Registration. Now let’s discuss the facts related to the EPF.
PF Registration
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Employee Provident Fund or PF, is the govt.-managed retirement saving scheme. EPF is applicable on all private and public employees working under formal sector only. This fund is managed by Employees Provident Fund Organization of India. Under this scheme, matching contributions up to 12% of salary has been paid by the employees and employers in each.
PF mission is to extend the Reach and Quality of publicly managed old age income security programs through consistent and ever-improving standards of compliance and benefits delivery in a manner that wins the approval and confidence of members in our methods, honesty and integrity mange by best pf consultant near me.
WHEN PF REGISTER IS MANDATORY FOR EMPLOYER?
PF registration for Employer is obligatory if (follow this steps):-
- He owns a manufacturing facility having 20 or greater people
- Any different organization/basis Company with 20 or greater personnel
- The magnificence of such agencies whom the Central Government might also additionally, via way of means of note might specify for obligatory EPF business enterprise registration.
- Mainly when your establishment having 20 + employees then EPF Registration is mandatory for your company
PF issue has been attracting so much attention because of the following reasons:
- COMPULSORY CONTRIBUTION: EPF is a contribution of 12% from basic salary with an equal contribution from employer. However, employers have tried to shift the burden of their contribution also to employee thereby causing a huge cut in salaries.
- LOW WAGES: The low wage structure prevailing in our country adds to the problems because almost almost 32 million out of 39 million provident fund contributors get a salary less than 15000. In spite of this cut in the form of epf and non-withdrawal clause has raised concern among many.
- IMPROVED SERVICE: The improved service delivery by epfo through transferable 12-digit number and also online services has raised awareness among people.
- LARGE CORPUS: PF maintains a large corpus of 1.7 trillion dollars. So this automatically raises attention from every corner.
Documents are required in case of Proprietor/Partner (Soft copy):
- PAN Card.
- Address Proof (Aadhaar card/Voter card)
- Certificate of Registration
- Partnership deed.
Documents are required in case of Firm:
- PAN card of company/society/trust.
- Certificate of Incorporation.
- Cancelled cheque.
FAQ’s:
1.What is EPFO?
Answer- The Employees’ Provident Fund (EPFO) is a retirement benefit scheme that’s available to all salaried employees working in a formal sector.
- What is the contribution rate to the Provident fund & pension scheme?
Answer- Under this scheme, matching contributions up to 12% of salary has been paid by the employees and employers in each.
- Is contribution to the PF mandatory?
Ans- For those who have a basic salary of up to Rs. 6500, contributing to the EPF is mandatory. Contributions are voluntary for those whose basic salary exceeds Rs. 6,500.
- When can I withdraw my PF money?
Answer – You can withdraw from your PF account on the account your children’s education, marriage of self, children and siblings, purchase/construction of a house, or any medical emergencies etc. withdrawal is subject to certain conditions, non-compliance of which would result in penal interest: You should have completed minimum seven years of service; withdrawal can be made only three times in the period during which you hold the PF account, and the maximum aggregate withdrawal would be 50 per cent of the total contributions made by you.
- Can I contribute more than 12 per cent of my basic salary towards PF?
Answer– Yes, you can.
Documents are required in case of Proprietor/Partner (Soft copy):
- PAN Card.
- Address Proof (Aadhar card/Voter card)
- Certificate of Registration
- Partnership deed.
Documents are required in case of Firm:
- PAN card of company/society/trust.
- Certificate of Incorporation.
- Cancelled Cheque.
Given below are the benefits of PF registration
- Risk Coverage: The most fundamental benefit of the Provident Fund is to cover the risks employees and their dependents that may arise due to retirement, an illness or their demise.
- Emergency Needs: There are certain unanticipated occasions like marriage or other family occasions, any mishappening or illness that require urgent finance. The PF amount can be of great help.
- Long-term Goals: There are many long-term goals such as Marriage or higher education that require the urgent availability of funds. The accumulated PF amount often comes handy during such occasions.
- Uniform Account: One of the most important aspects of the Provident Fund account that it’s steady and transferable. It can be carried forward to any other place of employment.
- Covers Pension: Apart from the employee’s 12% contribution towards EPF, an equal amount is contributed by the employer, which includes 8.33% towards Employee Pension Scheme (EPS).
- Employee Deposit Linked Insurance Scheme: This scheme is for all the PF account holders. According to it, 0.5% of the salary is deducted from the life insurance premium.