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Employee Provident Fund, commonly known as PF, is a social security scheme that was conceptualized to help employees of private sector to effectively plan their retirement funds. Every month, both employers and employee make contributions towards the fund.
Filing PF returns on time is not just a legal obligation but also a crucial aspect of employee welfare. A delay or error in PF return filing can lead to penalties and adversely impact the retirement savings of your employees.Let us take care of your PF compliance needs and you can rest assured that you’re PF returns are filed accurately and on time, giving you peace of mind and allowing you to focus on your core business operations.
The employers that have PF registration need to file the PF returns on a monthly basis. As per the guidelines, the employers must file PF return filings by the 25th of every month. Further, a final PF return is due on the 25th of April for the year ended on 31st March.
While filing for a PF return, an employer must comply with the requirements of the Unified Portal of PF filing. As part of filing returns, an employer must submit an Electronic Challan cum Return (ECR), along with all the applicable forms and relevant documents, on the EPFO portal.
Electronic Challan cum Return (ECR) is an electronic monthly return uploaded by employers through the Employer e-Sewa gateway. Once the uploaded ECR is approved, the Challan can be generated, which employers can use to remit the dues through an online payment.
• Form 2-
It is a declaration and nomination form that is filled by new joiners. This Form is to be submitted with Form 5. Form 2 is separated into two distinct parts.
Part A- This part is to provide the names of the beneficiaries of the total amount in the EPF account holder in case of their death.
Part B- Apart from details of the nominee, this form mentions the details of the family members who shall receive the children/widow annuity.
• Form 5-
It is a monthly report that contains the details of the employees who have recently signed up for the PF scheme.
• Form 10-
It is a monthly report that includes the details of the employees who have ceased to be a part of the scheme on the given month. Form 10 must be filed and stamped by the employer with the filing date of the form.
• Form 12A-
It is a monthly report containing the payment details that are added to an employee's account in that specific month.
• Annual PF Return Filing-
These Forms are used for documenting the yearly PF returns before the 30th of April in a given year. They are:-
Form 3A- It is an Employee-wise Annual report for the Amounts deducted/contributed by the Employee and the Employer towards the EPF, VPF, and EPS Accounts
Form 6A- It is a consolidated yearly contribution statement that provides the details of the annual contribution of every employee.
If there is a delay in filing PF returns, then an interest of 12% per annum is charged every day of delay on the employer. (Section 7Q)
Under Section 14B, delay in making the challan installment can attract penalties as per the below-mentioned criteria:
• 5% interest per annum for a delay up to 2 months.
• 10% interest per annum for a delay of 2-4 months.
• 15% interest per annum for a delay of 4-6 months.
• 25% interest per annum for a delay of over a half year.
• ID and Address Proof of Employer and Employee
• PAN of Employer and Employee
• Bank Statement (Latest) and A cancelled Cheque
• PF Contribution Detail
• Copy of Payment challan
• Monthly Payment Sheet of Employee
• Any other details, as required
The employer or the organization is responsible for filing PF returns and submitting the contributions to the EPFO.
Yes, employers with multiple establishments can file PF returns for all of them in a single submission through the EPFO's unified portal.
Yes, employers can make corrections to their PF return filing by submitting an application and the necessary documents to the EPFO.
Small employers, who have less than 20 employees, are eligible to file their EPF return through the EPFO's 'Establishment registration' option.
Yes, it is mandatory for an employer to file EPF returns every month within 15 days of the end of that month.
Employers can file EPF returns for the current month after the due date, but it may attract a late filing fee.
Yes, employers can file a consolidated return for multiple establishments through the EPFO's unified portal.
Yes, employers can file EPF returns for past months, but it may attract a late filing fee and penalties.
Penalties for non-compliance with EPF return filing can include fines, legal action, and even disqualification as an employer.
No, EPF return filing can only be done after the establishment has been registered with the EPFO.