Hi All, My company wants me to handle the PF Department for their employees but I have never done this before and need help from all you experienced professionals on what all do I need to do to manage the PF Department for a company.
Kindly advise.
Regards,
From India, Bangalore
Kindly advise.
Regards,
From India, Bangalore
You will not be harassed by the PF officials as like earlier. Because currently everything became online. No paper work is required. Be firm in facing any department officials. Go through the EPFO website. It has all the information required for a new member / employer. Some of the basics you have to follow:
1. Once your company is registered with PF stating that you have employees strength is more than 20, you cant withdraw it back, even your strength comes down in future.
2. Your employees gross should be more than minimum wages prescribed by your state Govt. You should contribute PF for all employees who is drawing less than 15000/-.
3. You have to deduct 12% of the basic from your employees which will go to PF and you have to contribute 12% in which maximum will go to Pension scheme(EPS). Remaining minimal % will go towards EDLI and admin charges
4. You have to pay the amount within 15 days from the date of filing the returns in online portal. ECR will be expired otherwise. You have to file it again and take the challan copy and pay it in bank or online.
5. If the payment is not made with in 15th of every month, you will be getting a notice after completion of financial year demanding for interest. you can pay it separately.
6. You have to makesure that your contract employees / Housekeeping labours are also covered under EPF. Check their ECR copy. Most of the contractors just show the paid challan and escape. But you should cross verify the ECR copy randomly. This is where EPF officials will raise their voice.
7. uploading returns, saving excel file in csv format.. etc, you need to learn it practically. That cannot be taught theoretically. Demo is available in EPFO website.
You can post if you have any more queries.
Thanks,
From India, Chennai
1481. Once your company is registered with PF stating that you have employees strength is more than 20, you cant withdraw it back, even your strength comes down in future.
2. Your employees gross should be more than minimum wages prescribed by your state Govt. You should contribute PF for all employees who is drawing less than 15000/-.
3. You have to deduct 12% of the basic from your employees which will go to PF and you have to contribute 12% in which maximum will go to Pension scheme(EPS). Remaining minimal % will go towards EDLI and admin charges
4. You have to pay the amount within 15 days from the date of filing the returns in online portal. ECR will be expired otherwise. You have to file it again and take the challan copy and pay it in bank or online.
5. If the payment is not made with in 15th of every month, you will be getting a notice after completion of financial year demanding for interest. you can pay it separately.
6. You have to makesure that your contract employees / Housekeeping labours are also covered under EPF. Check their ECR copy. Most of the contractors just show the paid challan and escape. But you should cross verify the ECR copy randomly. This is where EPF officials will raise their voice.
7. uploading returns, saving excel file in csv format.. etc, you need to learn it practically. That cannot be taught theoretically. Demo is available in EPFO website.
You can post if you have any more queries.
Thanks,
From India, Chennai
you can generate challan online by uploading ecr details in online employers portal, take 2 copies of challan and fill the cheque for that amount in favour of SBI EPF ac and submit in sbi. collect the acknowledged challan after 3 days and file it. or you can also pay online in the same esewa.epfoservices.in portal.
best is to pay through bank to avoid issues as the amount would be huge.
From India, Chennai
best is to pay through bank to avoid issues as the amount would be huge.
From India, Chennai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls