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EPFO Registration

Original price was: ₹6,000.00.Current price is: ₹5,100.00.

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Eligibility:-

  • All states in India can benefit from the provisions of the EPF scheme.
  • EPF account registration is mandatory for salaried employees with an income of up to ₹ 15,000.
  • Employees with a salary of more than ₹ 15,000 may register for an EPF account subject to approval from the Assistant PF Commissioner.
  • Organisations with more than 20 employees must register for the EPF scheme between the ages of 18 to 54 years.
  • Organisations with less than twenty employees may join the EPF scheme voluntarily.
  • Employees are entitled to receive a variety of employee provident fund benefits, including insurance benefits and pension benefits, after they become active members of the EPF program.

 

Benefits for Employer

  • Helps to take benefits of employment generation subsidy.
  • Helps to maintain expense in business.
  • Relief from interest when payment done before due date.
  • Offering EPF to employees can make a company more attractive to potential candidates.
  • Employers are required to comply with EPF regulations, which can help ensure a fair and transparent work environment.
  • To avoid legal problems.
  • To facilitates business transactions.
  • Protects their employees’ financial interests.

 

Benefits for Employees

  • Retirement savings benefits for long term employees.
  • Tax advantages under section 80C of income tax.
  • Provide financial security and guaranteed returns on investment.
  • Partial withdrawl in emergencies like illness, marriage, education & construction.
  • Receive a lump sum of their contributions, employer contributions, and accumulated interest when they retire.
  • Provide eligibility for free Employees Deposit Linked Insurance (EFLI) scheme coverage of up to Rs. 7 lakhs
  • Employees also take out loans against their EPF balance for emergencies, with a minimal interest rate of 1% per year and must be repaid within three years.
  • Effectively doubling the retirement savings.
  • Offers a competitive interest rate that helps savings grow faster.
  • EPF members can take non-refundable advances during their service period.
  • EPF members receive a final settlement on retirement or two months after they stop being an employee.

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EPFO Registration
Original price was: ₹6,000.00.Current price is: ₹5,100.00.
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