The Employee’s Provident Fund & Miscellaneous Provisions Act, 1952 has been enacted with the main object of protecting the interest of the employees after their retirement and their dependents after death of the employee. The act provides insurance to workers and their dependents against risks of old age, retirement, discharge, retrenchment or death.
EPF Applicability
The Employee’s Provident Fund & Miscellaneous Provisions Act, 1952 extends to whole of India except the state of Jammu & Kashmir. It applies on every establishment employing 20 or more persons & engaged in industry specified in Schedule I of the Act or any activity notified by the Central Government. It applies to all departments / branches of an establishment wherever situated. Any establishment employing even less than 20 persons can be covered voluntary under section 1(4) of the Act.
EPF Eligibility
Employees drawing salary / wages at the time of joining up-to Rs. 15000/- per month are governed by the provisions of the Act: Employees drawing salary / wages more than Rs.15000/- per month may also be brought under the purview of the Act at the discretion of the management and by furnishing a joint undertaking to the Provident Fund Commissioner: Employees engaged through the Contractor in or in connection with the work of an establishment are also covered under the purview of the Act.
Rate of EPF Contribution
| Monthly Contribution | Employee’s Provident Fund | Employee’s Deposit Insurance Scheme | Employee’s Pension Scheme |
|---|---|---|---|
| By Employer | 12% of Basic Wages, Dearness Allowance, CashValue of Food Concession & retaining Allowance Plus – Administrative Charges | 0.50% of Basic Wages, Dearness Allowance, Cash Value of Food Concession & retaining Allowance ( Subject to Maximum wage limit of Rs.15000-) | 8.33% (out of 12% contribution payable under EPF) |
| By Employee | 12% of Basic Wages, Dearness Allowance, Cash Value of Food Concession & retaining Allowance | NIL | NIL |
Services We Offer
We are EPF Consultants and Mirrormira, we providing following services and compliance to the provisions of Employee’s Provident Fund & Miscellaneous Provisions Act, 1952.
- Coverage of establishments under Employees Provident Fund (EPF)
- Obtaining EPF Registration / EPF Code Number
- Preparation & Submission of applicable Forms with the relevant EPF Office
- Preparation of EPF Challans & Depositing monthly EPF Contributions on behalf of the establishment
- Preparation & filling of periodical returns as may be required Under EPF Act / Schemes
- Preparation & Maintenance of Statutory Registers & Records as required Under EPF Act / Schemes
- Furnishing of particulars of change in ownership / management of the establishment
- Providing day to day consultancy matters pertaining to EPF, pension scheme & EDLI scheme
- We shall process and submit PF Withdrawal forms and follow up for the same (For left employees)
- We undertake Transfer related Submission also (Online transfer)
- Assistance to employees of establishment in claiming widow pension, family pension, children pension under employee pension scheme
- UAN Generation, Guidance in UAN Activation and Seeding of KYC
- Digital Signature Activation and Registration.
- Online availability of Monthly Returns, Challans & Correspondence as per your need.
- Regular visit and correspondence with the PF department
- Maintain cordial relation with concerned PF Officials.
- Assistance at the time of inspection/ enquiries conducted by the Inspector.
- Replying / Satisfying Show Cause Notices issued under EPF Act.
- Appearing before the concerned authorities on behalf of the establishments in show cause / adjudication proceedings.
- Timely Updating and proper Guidelines, if any changes in Act or rules.