PF Registration Process Online for Employees in India
The Employees' Provident Funds is a scheme established by the Provident Funds and Miscellaneous Provisions Act of 1952 for employees in India. The Employees' Provident Fund Organization (EPFO) is one of the largest social security agencies in the world in terms of clientele and the volume of financial transactions processed and is in charge of overseeing it. EPF essentially functions as a benefit the company offers employees during retirement. Any business in India that has hired 20 people or more is eligible to apply for PF registration. Sometimes establishments with less than 20 employees are still eligible for PF registration , depending on the circumstances and the exemption. On retirement or resignation, the employee receives a sum comprising both their and the employer's contributions, plus interest. Why is it Necessary for an Employee to Register for EPF? Since TDS is deducted from employees' paychecks, companies should ensure that employees have their EPF acco...