Employee’s Provident Fund Organization (EPFO) – Everything you need to know about it
Global citizens of these recent times have been striving for any work or any kind of employment that suffices their basic needs of existence. They work hard from nine to five to ensure that they are paid the wage that is needed to lead a happy and healthy life. Thus, to aid the employees and the employers of our country our government has set up in the post-independence era an organization that would help common employees and employer’s to have savings and security money in the form of provident funds. This is known as the employee’s provident fund and the government organization looking after it is known as the employee’s provident fund organization.
Employee’s Provident Fund Organization
To ensure assistance to the central board of trustees the Employee’s Provident fund organization was found. It was established in the post-independence era, on 4th March 1952. It has its headquarters in New Delhi in Bhikaji Cama Place. It provident funds to the employee and employers of different establishments. To enroll or apply for an EPF an employer must visit the official site for EPF registration online. The other activities or services of the EPFO include pension schemes, insurance schemes, acting as Implementing agencies for bilateral social security agreements.
EPF Registration online
EPF registration online involves quite a lot of procedures for the application of an Employee’s provident fund. Those are –
- Visiting the official website of EPFO – At first, the employer has to visit the official website of the Employee’s Provident Fund Organization – www.epfo.gov.in
- The required signing up and registration – Then the person has to click on the sign-up option and then enter the required details like Name, Email address, Phone number or any other contact number, and the required verification code or passcode, etc, after which the person can finally sign up and start with the registration process by clicking on the option ‘registration for EPFO – ESIC’.
- Filling up the required establishment details – Filling up the required establishment details is necessary for the further process of registration. The necessary details are listed below as of the following –
- The name and the full address of the firm or company
- The branch details and the headquarter or head office details
- Registration date of the firm or company
- The total number of employees and the details of each employee.
- Details of the banking relationships of the company as well as the PAN details.
- Wage component related to each employee in the company
Hence, the above-mentioned categories are some of the few which are needed to be filled by the employer while registering
- Uploading the digital signature certificate – The uploading of the digital signature certificate is quite necessary for the registration process. After all, these errands are done the Shram Suvidha will send you an email for a confirmation.
There are several documents that a person has to present for EPF Registration online. the documents include a copy of the partnership deed, a copy of the memorandum, articles of association, etc. The employer must have a copy of the EPF member passbook. The EPF Member passbook can be downloaded from the official site after all the formalities of the registration is done.
Thus, this is how EPFO is important for any employee or employer and must have the required knowledge about it.