What is PF Return?
A social security system known as the Provident Fund was established to encourage employees to save and to benefit them during retirement. Both the employer and the employee make contributions to the PF on a monthly basis. The PF contribution made by the employee can only be withdrawn by the employee during his or her employment, with a few exceptions.
Employers who are PF registered are required to file PF returns on a monthly basis. Each month’s PF return filings must be completed by the 25th. We’ll go over the various forms for filing PF returns in detail here. Employers can use the Unified portal to easily file their PF returns.
Employees Provident Fund is a retirement benefits scheme for all salaried people. Employees Provident Fund Organization of India (EPFO) manages the fund, and any company with 20 or more employees must register with EPFO.
During the employee’s employment, both the employee and the employer contribute 12 percent of the employee’s basic salary to the EPF account. The employee’s entire 12 percent goes into their EPF account, while the employer’s 3.67 percent goes into the employee’s EPF account. The remaining 8.33 percent is diverted to the Employees Pension Fund by the employer (EPF).
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What details have to be provided by the Employer?
The employer needs to provide the following details along with EPF Form which can be downloaded from the EPFO website
Name and address of the company along with head office and branch details
Date of Incorporation of company
Provide Details of employees (name, date of joining, salary, etc)
Business of the company
Director’s details
Banking details of the company
PAN details
Form 2
Form 2 is filed as a declaration and nomination under the Flagship scheme of the Employment Provident Fund and the Employment Family Pension Scheme. Form 2 must be filed by the employees who are joining the establishment. This form is to be submitted with Form 5. Form 2 is divided into 2 different parts.
Part A
Part A of Form 2 deals with nominating the recipients of the EPF balance of the particular account holder, in the event of his or her death. This part of the form must include the following details:
- Name
- Address
- Relationship with the subscriber
- Age
- Sum of the money that is to be paid to the nominee
- Guardian Details ( In case the nominee is a minor)
This Part has to be signed or needs to have a thumb impression to be made at the end of the section.
Part B
The details of the nominee as already mentioned in Part A should also be included in Part B. Additionally, the details of the members who are eligible to receive the children/ widow pension must be furnished.
This Part again must be signed duly or a thumb impression has to be made at the end of the section.
Form 5
Form 5 is a monthly report that contains the details of the employees who are newly enrolled in the provident fund scheme. Form 5 must include the following details:
- Organization’s Name
- Address of the Organization
- Code of the organization
- Account number of the Employee
- Name of the employee
- Middle Name (Husband/Father)
- Date of birth of the employee
- Date of joining
- Track record of the work.
The form is to be filed and stamped by the employer with the date of filing mentioned on it.
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 includes the following details.
- Account Number
- Name of the employee
- Name of the father or the husband
- Date of leaving the service
- Reason for leaving service.
Form 10 must be filed and stamped by the employer with the filing date of the form.
Form 10
Form 12A
This Form 12 A is a report that contains the payment details that are contributed to the account of the respective employee in a particular month.
Annual PF Return Filing
The annual returns are to be filed by the 30th of April in a given year. The forms that are utilized for filing the annual PF returns are
Form 3A
The Form 3A depicts the month-wise contribution to the subscriber or members and the employers towards the Employee Provident Fund and the Employee Pension Fund in a year. The data is calculated by every member who is a part of the scheme. Additionally, the scheme will include the following details
- Account Number
- Name of the subscriber
- Name of the father or the husband
- Name and address of the establishment
- The statutory rate of contribution
- Voluntary contribution in case if there is any.
- Form 3A must contain the signature and the seal of the employer.
Form 6A
Form 6A is a consolidated annual contribution statement that includes details about the annual contribution of each member of the establishment. The Form has to include the details as they are enumerated below:
- Account number
- Name of the members of the subscriber
- Wages, retaining allowance if there is any, and the D.A that includes the cash value of the food concession that is paid during the currency period.
- The amount of contribution that is deducted from the wages.
- Employer’s contribution (Both EPF and Pension)
- Refund of the advances
- Rate of the higher voluntary contribution (If there is any)
- Remarks
Besides this, the following details should also be included in the amount remitted column:
- The month of the contribution
- The remitted contribution that includes the refund of the advances
- EDLI Contribution
- Pension Fund Contribution
- Administrative charges
- Aggregate contributors.
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Benefits of PF Return Filing (Provident Fund) Return
What is the Procedure of Filing PF Return?
The process by which the employer must file a PF return must adhere to the requirements of the Unified Portal for PF Filing. Any employer who is a member of the Employees Provident Fund System is required to consider filing the returns on time.
Form 2-This form is used by the employer for a flagship scheme within the Employee Family Scheme that the employee participates in. Form 2 must be submitted with Form 5 in order to complete the above. Both parts A and B must be filed in this section according to the requirements.
Form 5- This is a monthly report and compliance form that must be filed. Any employee who has recently enrolled in the provident fund systems.
Form 10- This form is for any type of individual or employee who is not a member of the organization.
Annual PF Filing- Annual PF returns must be filed by April 30th of each year. This must be done by submitting Form 3A and Form 6A.
Account Statement Filed Annually- Along with this, the EPFO has to send the annual account statement regarding the filings.
- Copy of partnership deed (In case of partnership firm)
- Certificate of Incorporation (In case of Private or Public Company)
- Registration Certificate (In case of society)
- PAN details of the company
- Proof of Incorporation
- Salary details of employees
Balance Sheet details
FAQs On PF return
All employers who have PF registration are necessary to file returns on a monthly basis. The filing of returns has to be done by the 15th of each month through unified portal. During the working tenure, employee and employer both contribute 12 % of the basic salary of employee into EPF account.
The employers who have PF registration mandatory file returns on a monthly basis. The filing of returns must be completed each month. The forms used for filing these returns are- Form 3A and Form 6A.
All employers having PF registration are responsible to file returns on a monthly basis. The filing of returns must be completed by the 15th of each month through unified portal. During the working tenure, employee and employer both contribute 12 percent of the basic salary of employee into EPF account.
The annual PF Return must be filed by the 30th of April in a given year
Yes, it is mandatory to have an EPF account by the employer for the employees who have a basic salary plus dearness allowance is up to Rs. 15,000. And those who are earning beyond Rs. 15,000 is not compulsory but may contribute voluntarily.
Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date every month.
ECR stands for Electronic Challan cum Return. It is an electronic monthly return to be uploaded by employers through the Employer e-Sewa portal. The approval of uploaded ECR will result in the generation of a Challan using which the employer has to remit the dues through online payment.
- Step-1 Log in to UAN portal and enter UAN number and password
- Step-2 Click on to Tab ‘Manage’ and select KYC to check the details such as Aadhar, PAN and Bank details are verified or not
- Step-3 Once the details get verified, click on to Tab ‘Online services and select option ‘Claim Form- 31, 19 and 10C
- Step-4 Enter the last 4-digit of your bank account and click on to ‘Verify’
- Step-5 Click on to ‘Proceed for Online claim’
- Step-6 Select the required claim and select PF Advance Form-31 to withdraw the fund
To correct the ECR, you need to write to the Regional PF Commissioner (PF). Meanwhile, you can be in touch with the dealing head of your PF code as system provides the option to cancel your ECR in his system. Once cancelled by the dealing hand, you can provide the corrected details in soft copy and I.T.
Suppose (Basic Salary + Dearness Allowance) = Rs 50,000 monthly. Now the contributions of the employee and the employer are made. Employee’s contribution towards EPF = 12% of Rs 50,000 = Rs 6000. Employer’s contribution towards EPS = 8.33% of Rs 50,000 = Rs 4165
