Employees Provident Fund (EPF) is a project of the largest social security institution in the world. Its goal is to improve social welfare and financial stability for Indian workers. Get EPF Registration with help of legal service providers. The company or business having a complete staff of 20 or more employees is eligible for EPF Registration.
The UAN is a 12-digit number given to all employees who contribute to the EPF. The Employees Provident Fund (EPF) service will be shifted to an online platform, making it more user-friendly, thanks to the UAN Registration. The employee’s UAN remains the same throughout his or her career. It does not change as a result of changing jobs.
EPF Registration and UAN Registration are linked: How?
Employers are given the UANs of all employees for whom they contribute to the Employees Provident Fund (EPF) by the EPFO. If you don’t have a UAN, perhaps because this is your first employment, your employer will request one from the EPFO, along with your member identity number (ID). EPFO issues a member ID number to allow your employer to deposit your EPF funds.
The employer will request that the EPFO issue a new member ID for an employee who already has a UAN.
The employee’s UAN will subsequently be connected to the member ID.
The employer will then provide the UAN to the employee(s), who must then furnish the employer with their know-your-customer (KYC) documents. The employer will get update the KYC specifications on the EPFO website.
Tax Benefits of Employees Provident Fund (EPF)
The employer’s contribution to the Employees Provident Fund (EPF) is tax-deductible. As per rules of section 80C of the Income Tax Act, the employee’s contribution is taxed, but it is also entitled to a deduction.
The money that an employee puts into the EPF at the start, the interest gained on it, and the money that you withdraw after a set length of time (say five years) are all tax-free. So, get EPF Registration now !!!
How To Get UAN Registration?
- Applying the Employer ID and password, the worker must log in to the EPF Employer Portal or the UAN Login Portal.
- After logging into your EPFO UAN account, go to the member section and select “Register Individual.”
- Fill in the employee’s personal information, such as PAN, Aadhaar, and bank account information.
- The employer must then sign off on all details in the “Approval” section.
- EPFO has finally produced a new UAN, and the employer can now successfully link the PF account with the employee’s UAN via the PF UAN Login Portal’s other features.
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Conclusion
You can easily complete online EPF Registration and UAN Registration for employers using the methods and requirements outlined above. However, even slight omissions during the registration process can prohibit your employees from benefiting from the plan and may result in other legal concerns.
As a result, it’s a good idea to obtain legal guidance from professionals of Online Ca services like Caonweb. As a result, all you have to do is provide us with the appropriate paperwork, and we’ll take care of the rest. Always take the help of the best Tax consultant near me, service providers in India.
Add FAQ:
How can I register for PF online?
First, go to the EPFO website.
On the homepage of the website, click the “ESTABLISHMENT REGISTRATION” button. Pre-register at USSP. Complete the online registration form. Attach the DSC.
How can register employee in EPF online?
On the EPFO website www.epfindia.gov.in, members need to open the link “Member Portal” under the section “FOR EMPLOYEES” on the Home page to register for the Member Portal.
What is PF registration certificate?
All businesses with 20 or more employees must register with the PF. Some businesses with fewer than 20 employees will also be required to register with the PF. From the start of employment, every employee is eligible for a PF, and it is the employer’s responsibility to deduct and pay the PF.
How can I register my EPF account?
You can register with EPF by following the steps.EPFO requires you to register your company.Read the User Guide thoroughly.To obtain a digital signature certificate, you must first register.Correctly filling out the employer and employee information.Employees’ EPF registration can be simply obtained by following these easy steps with Caonweb.
How can I activate EPF UAN number?
By entering into their accounts, all subscribers must activate their UAN. As many as 2.8 crore UANs are ready for activation after going through the proper procedures, but many account users have still to input their bank account information, according to the EPFO website.
Chartered Accountant by profession, CA Sakshi Agarwal has an experience of above11 years in Cross Border compliance , Import Export , International Taxation & is a passionate content creator.