Welcome
-------------- Welcome to Taxcellent !! We Serves you better !! -------------- Income Tax Return Filing For A.Y 2024-2025 is Enable. File Your ITR with our Expert Professional --------------
EPF REGISTRATION
EPF is an acronym used for Employee Provident Fund. This is a scheme which was introduced under the Employee Provident Funds and Miscellaneous Provision Act,1952. EPF is being regulated under the purview of EPFO which stands for Employee Provident Fund Organization. EPFO is among the world's largest Social Security organizations when it comes to clients. EPFO acts as a steady source of income for the employees when they retire from the company. But for the same, the company should be registered with EPFO. This provides employees with a next-level of confidence since they can cover their future savings under EPF. Some Employees can also check if the company has registered with EPFO so that they can have the benefits of EPF.
So, what are you waiting for? Get your company registered with EPF. On a yearly basis EPFO declares the EPF rate based on the returns of the EPF corpus.
What is UAN? OR UAN EPF Registeration?
The best advantage of UAN or Universal Account Number is that it would make it easy to tag multiple Employee's Provident Fund Member Id under a single number. UAN will also help employees to easily transfer and withdraw their claims. With the help of UAN the employee can transfer the balance from one EPF to his/her other EPF account.
The new UAN portal allows you to check your EPF balance and nowadays all the details like how to check UAN status, download UAN EPF passbook, check EPF balance, provident fund claim and many more facilities provided by the new UAN portal.
In the new UAN portal you can check your EPF balance, UAN status, download EPF passbook giữ trẻ sơ sinh, etc.You can find various other services related to the EPF under the new UAN portal.
Advantages
-
Provident Fund (PF) gives a higher return on investment when compared to other perceived stable investment opportunities. With the current interest rate of 8.65%, investing in PF is a smarter choice when compared to Fixed Deposits (7.5%), Recurring Deposits (7.5%) and PPF (8.1%).
-
As a hybrid defined benefits plan, Provident Fund guarantees its investors a defined return rate of return. EPFO members can rest assured knowing that their investments are protected and are not threatened by fluctuations in the market.
-
Both employer and employee PF contributions are tax exempt, unlike contributions into the equity market or fixed deposits, which are post-tax contributions. Moreover, unlike fixed income returns or equity investment returns, PF withdrawals are tax-exempt (subject to a 5 year period of no withdrawal).
Disadvantages
EPF cannot be registered with self-employed or retired individuals. EPF is only open to employees of companies that have registered under the EPFO Act. Because of this, companies with less than 20 workers or more also cannot apply for EPF.
Under the EPFO act, the contribution is fixed at 12% of salary and DA from the employer and employee. One cannot contribute less than 10% of the salary. Moreover, the employee can contribute more than 12% under VPF (Voluntary Provident Fund).
After opening account of EPF, you should not withdraw it before completion of 5 years. If you withdraw it before completion of 5 years from registration, then you would have to pay taxes. In the current economy, many people won't be able to keep a job in an EPF-registered company for 5 years.
FAQs Section
-
If return if not filed even after registration then the EPFO department would issue a notice or enquire the concerned employer for non-compliance.
-
You will need UAN number for filing the PF return.
-
After realizing the dues, the PF members will be given full interest for every due month.
-
The individual who has registered you under PF would have your UAN number, most of the case your employer.
-
EPFO stands for Employee Provident Fund Organization.
Our Benefits
Why Choose Us ??
Our Mission