PF Registration & Process in Thane, Mumbai
Employees’ provident fund (E.P.F) is a saving scheme. It is a retirement saving scheme provided by the Indian government for all salaried workers in India, on which fixed interest is frequently paid.
The Employee Provident Fund is a requirement supplied from the company with their own employees past their essential salary
Their representatives consist of three parties.
• Government
• Employers
• Employees
What does the term PF mean?
This scheme is very beneficial for all employees for developing an employee after their retirement. In this process, an amount is deducted from their monthly salary and is put into EPF a/c EPF helps to for “Employee Provident Fund” All requirements for this are the AADHAR details of employees, and their UAN text benefits of a company or employer’s contribution to the epf account is free from taxes.
Rates of interest were 8.65% 2016-17 and 8.8% 2015-16. In 2017-18 the rate of interest was 8.55% for the financial year 2019.
Documents Required for PF Registration:
Certificate of Incorporation
• Pan Card
• Canceled Cheque
• Address proof of establishment
• Employees and Employer Share.
12% of the basic salary is deducted as employees’ contribution. Employer also makes the same contribution to PF.
Why is it important?
PF is perhaps the easiest way to save money for the future. In this way, you might get higher returns in the future as the interest rates are likely to increase. Therefore, all these factors make PF a safe retirement planning tool.
Bashmakh & Co is able to assist you with your entire questions pertaining to PF registration. You remain relaxed to become ensured underneath PF with no complication.