{"id":712,"date":"2022-09-23T12:54:03","date_gmt":"2022-09-23T12:54:03","guid":{"rendered":"https:\/\/isschennai.com\/?page_id=712"},"modified":"2022-11-28T12:07:08","modified_gmt":"2022-11-28T12:07:08","slug":"epf","status":"publish","type":"page","link":"https:\/\/isschennai.com\/index.php\/epf\/","title":{"rendered":"EPF"},"content":{"rendered":"<style>\/*! elementor - v3.7.7 - 20-09-2022 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style>\n<h2>EPF<\/h2>\n<h2><a href=\"http:\/\/isschennai.com\/wp-content\/uploads\/2022\/10\/2023-T.N.-Govt-Holiday-List.pdf\">EPF Due Date : 15th Nov 2022<\/a><\/h2>\n<h2><a href=\"http:\/\/isschennai.com\/wp-content\/uploads\/2022\/11\/benefits_of_enomination-1.pdf\">EPF  e Nomination benefits<\/a><\/h2>\n<h3>EPF (Employee\u2019s Provident Fund)<\/h3>\n<style>\/*! elementor - v3.7.7 - 20-09-2022 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#2c2c2c;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:-webkit-box;display:-ms-flexbox;display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);-ms-flex-negative:0;flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:-webkit-box;display:-ms-flexbox;display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{-webkit-box-align:center;-ms-flex-align:center;align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon .elementor-divider-separator:before,.elementor-widget-divider--view-line_text .elementor-divider-separator:after,.elementor-widget-divider--view-line_text .elementor-divider-separator:before{display:block;content:\"\";border-bottom:0;-webkit-box-flex:1;-ms-flex-positive:1;flex-grow:1;border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--element-align-left .elementor-divider .elementor-divider-separator>.elementor-divider__svg:first-of-type{-webkit-box-flex:0;-ms-flex-positive:0;flex-grow:0;-ms-flex-negative:100;flex-shrink:100}.elementor-widget-divider--element-align-left .elementor-divider-separator:before{content:none}.elementor-widget-divider--element-align-left .elementor-divider__element{margin-left:0}.elementor-widget-divider--element-align-right .elementor-divider .elementor-divider-separator>.elementor-divider__svg:last-of-type{-webkit-box-flex:0;-ms-flex-positive:0;flex-grow:0;-ms-flex-negative:100;flex-shrink:100}.elementor-widget-divider--element-align-right .elementor-divider-separator:after{content:none}.elementor-widget-divider--element-align-right .elementor-divider__element{margin-right:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-top:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-container>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow,0)}<\/style>\n<p>Employees Provident Fund (EPF) is a scheme controlled by the Employees\u2019 Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of the Employees\u2019 Provident Fund Organization (EPFO). PF registration is applicable for all establishment that employs 20 or more persons, subject to certain circumstances and exemptions even if they engage less than 20 employees. Under the EPF scheme, an employee has to pay a certain contribution towards the scheme, and an equal contribution is paid by the employer. The employee gets a total amount including self and employer\u2019s contribution with interest, on retirement or resignation.<\/p>\n<style>\/*! elementor - v3.7.7 - 20-09-2022 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"485\" height=\"303\" src=\"http:\/\/isschennai.com\/wp-content\/uploads\/2022\/09\/EPFO_8.5_Per_Cent_Rate_of_Interest_.png\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/isschennai.com\/wp-content\/uploads\/2022\/09\/EPFO_8.5_Per_Cent_Rate_of_Interest_.png 485w, https:\/\/isschennai.com\/wp-content\/uploads\/2022\/09\/EPFO_8.5_Per_Cent_Rate_of_Interest_-300x187.png 300w\" sizes=\"(max-width: 485px) 100vw, 485px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<h4>Who is Eligible for PF?<\/h4>\n<p>It is obligatory that employees drawing less than Rs 15,000 per month, to become members of the EPF. As per the guidelines in EPF, an employee, whose \u2018basic pay is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer and Assistant PF Commissioner.<\/p>\n<h4>Amount of PF Contribution<\/h4>\n<p>The PF contribution paid by the employer is 12% of (basic salary + dearness allowance + retaining allowance). An equal contribution is payable by the employee. In the case of establishments that engage less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is restricted to 10%. For most employees working in the private sector, it\u2019s the basic salary on which the contribution is calculated.<\/p>\n<h4>Employees Pension Scheme<\/h4>\n<p>Out of employers\u2019 contribution, 8.33% will be routed to Employees\u2019 Pension Scheme, which is calculated at Rs 15,000. The amount routed to EPS would be Rs. 1250 for employees whose basic pay amounts to Rs 15,000 or more. However, if the basic pay is less than Rs 15000, then 8.33% of such amount would be routed to EPS, the balance will be retained in the EPF scheme. On superannuation, the employee would receive the full share plus the balance of employer\u2019s share reserved for his credit in EPF account.<\/p>\n<h4>Breakup of PF Contribution<\/h4>\n<p>We arrive at the rate of 12% based on the following sub-division:<\/p>\n<ul>\n<li>3.67% of contribution towards Employees\u2019 Provident Fund<\/li>\n<li>1.1% of contribution towards EPF Administration Charges<\/li>\n<li>0.5% of contribution towards Employees\u2019 Deposit Linked Insurance<\/li>\n<li>0.01% of contribution towards EDLI Administration Charges<\/li>\n<li>8.33% of contribution towards Employees\u2019 Pension Scheme<\/li>\n<\/ul>\n<h4>EPF Charges<\/h4>\n<ul>\n<li>Contribution is rounded to the nearest rupee for each employee, for the employee share, pension contribution and EDLI contribution.<\/li>\n<li>The Employer Share is the difference between employee Share (payable as per statute) and Pension Contribution.<\/li>\n<li>Monthly payable amount liable to EPF Administrative charges is rounded to the nearest rupee and a minimum of Rs. 500\/- is payable.<\/li>\n<li>If the establishment has no member in the month, the minimum administrative charge will be Rs. 75\/-<\/li>\n<li>Monthly payable amount under EDLI Administrative charges is rounded to the nearest rupee and a minimum Rs 200\/-is payable.<\/li>\n<li>If the establishment has no member in the month, the minimum administrative charge will be Rs. 25\/-<\/li>\n<li>In case, establishment is exempted from PF Scheme, Inspection charges @0.18%, minimum Rs. 5\/- is payable in place of Admin charges.<\/li>\n<li>In case the Establishment is exempted under EDLI Scheme, Inspection charges @ 0.005%, minimum Re 1\/- is payable in place of Admin charges.<\/li>\n<\/ul>\n<h4>Due Date for PF filing with EPFO<\/h4>\n<p>The employer before paying the employee&#8217;s salary must deduct the employee\u2019s contribution from his wages. Then the employee portion and employer portion are payable to the EPFO, within 15 days of the close of every month.<\/p>\n<h4>Indian Statutory Services<\/h4>\n<p>\t\tA team of Committed, Qualified and Experienced finance professionals to empower your business model to succeed.\t\t<\/p>\n<h4>Quick Links<\/h4>\n<link rel=\"stylesheet\" href=\"https:\/\/isschennai.com\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\n<ul>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/taxation\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tTaxation<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/gst\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tGST<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/income-tax\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tIncome Tax<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/professional-tax\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tProfessional Tax<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/labour-law-compliance\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tLabour Law Compliances<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/esi\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tESI<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/epf\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tEPF<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/contract-labour-act\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tContract Labour Act<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/shop-establishment-act\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tShop &#038; Establishment Act<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<\/ul>\n<ul>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/factories-act\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tFactories Act<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/labour-welfare-fund\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tLabour Welfare Fund<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/legal-services\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tLegal Services<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/drafting\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tDrafting<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/registrations\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tRegistrations<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/accounting\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tAccounting<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/tally-accounting\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tTally Accounts<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/tds\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tTDS<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<li>\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/isschennai.com\/index.php\/payroll\/\"><br \/>\n\t\t\t\t\t\t\t\t\t\tPayroll<br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n<\/ul>\n<h4>Contact Us<\/h4>\n<h6>\n\t\t\t\t\tIndian Statutory Services<br \/>\n\t\t\t<\/h6>\n<p>Tax and Labour Law, Audit &amp; Legal Services<\/p>\n<p>\t\t\t\t\t\t\t1\/217, TNHB 1st Block, Mugappair West,<br \/>Chennai-600037<\/p>\n<p>044-26535795<\/p>\n<p>+91 9840075284<\/p>\n<p>iss901@gmail.com<\/p>\n<p><strong>Copyright \u00a9 Indian Statutory Services<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EPF EPF Due Date : 15th Nov 2022 EPF e Nomination benefits EPF (Employee\u2019s Provident Fund) Employees Provident Fund (EPF) is a scheme controlled by the Employees\u2019 Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated under the umbrella of the Employees\u2019 Provident Fund Organization (EPFO). PF registration is applicable for all establishment that &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/isschennai.com\/index.php\/epf\/\"> <span class=\"screen-reader-text\">EPF<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":null,"stick-header-meta":null,"header-above-stick-meta":null,"header-main-stick-meta":null,"header-below-stick-meta":null,"footnotes":""},"_links":{"self":[{"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/pages\/712"}],"collection":[{"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/comments?post=712"}],"version-history":[{"count":56,"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/pages\/712\/revisions"}],"predecessor-version":[{"id":2184,"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/pages\/712\/revisions\/2184"}],"wp:attachment":[{"href":"https:\/\/isschennai.com\/index.php\/wp-json\/wp\/v2\/media?parent=712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}