Secretaries In Selaiyur
Secretaries In Selaiyur Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. PF registration is applicable for all establishment which employs 20 or more persons. Under 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’s contribution with interest, on retirement or resignation.
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, employee, whose ‘basic pay’ is more than Rs. 15,000 per month. 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 case of establishments which 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’s the basic salary on which the contribution is calculated. Out of employers’ contribution, 8.33% will be routed to Employees’ 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’s share reserved for his credit in EPF account. ESI was applicable for factories that employed ten or more persons. Subsequently, the coverage of ESI scheme has been expanded. any establishment employing ten or more persons drawing wages of upto Rs.21,000 per month must obtain ESI registration. All employers having PF registration are responsible to file returns on a monthly basis.
The filing of returns must be completed by the 25th of each month. This article deals with the filing of provident fund returns, and the various forms through which the purpose must be fulfilled This form is filed for the purpose of declaration and nomination under the flagship schemes of Employees Provident Fund and Employees Family Pension. Shop Registration under the MSME Act gives you trust between the customer when you mentioned your license registration number on the invoice or shop board.
Secretaries In Selaiyur Known as a member’s annual contribution card, Form 3A depicts the month-wise contributions made by the subscriber/member and employer towards E.P.F and Pension Fund in a particular year. The data is calculated for every member who is a part of the scheme. In addition to it, the scheme will include the following details: the Employees Provident Fund Organization (EPFO) is regulated to send the annual statement of accounts to each subscriber through his/her employer.