PF Return Filing

PF Return Filing

PF Return Filing

PF is a social security system that was introduced for the purpose of encouraging savings among employees, so as to benefit them during the course of their retirement. Contributions are made by the employer and the employee on a monthly basis. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions. 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.

Form 2

This form is filed for the purpose of declaration and nomination under the flagship schemes of Employees Provident Fund and Employees Family Pension. It must be filed by an employee when he joins an entity. The form must be submitted along with Form 5. Form 2 is divided into two distinct parts:

Part A

Part A of Form 2 specifically deals with nominating the recipients of EPF balance of a particular account holder, in the event of his/her death. The following details of the nominee must be included in this part of the form:

  • Name
  • Address
  • Relationship with the subscriber
  • Age
  • Sum of money to be paid to the nominee
  • Guardian details (if the nominee is a minor)

Note: This section must be signed or a thumb impression has to be made at the end of the section.

Part B

  • Part B should contain the details of the nominee as already specified in Form A. In addition to it, details of the family members who are eligible to receive the children/widow pension must be furnished.

Note: This section must be signed or a thumb impression has to be made at the end of the section.

Form 5

Form 5 is a monthly report which contains details pertaining to the employees who have been newly enrolled into the provident fund scheme. The form must include the following details:

  • Name of Organization
  • Address of organization
  • Code number of organization
  • Account number of employee
  • Name of employee
  • Name of the husband/father
  • Date of Birth of the employee
  • Date of joining
  • Track record of work

Note: The form must be filed and stamped by the employer, with the date of filing of form.

Form 10

Form 10 is a monthly report that contains details of the employees who have ceased to be a part of the scheme on a given month. The following details must be filled in the form:

  • Account number.
  • Name of employee.
  • Name of the father or husband.
  • Date of leaving service.
  • Reason for leaving service.

Note: The form must be filed and stamped by the employer, with the date of filing of form.

 

Form 12A

Form 12A is a report that includes the details of the payments contributed to the account of the respective employee in a particular month.

There are basically three schemes which come under PF Return like;

  1. The Employees Provident Fund Scheme 1952.
  2. The Employees Family Pension Scheme 1970.
  3. Employees Deposit linked Insurance Scheme 1976.
  • If any employer who does not pay the contribution within the time limit shall be liable to pay simple interest at the rate of 12 % per annum for each day of the default or delay in the payment of contribution.

Features of EPF Return

These are some characteristics of EPF (Employees Provident Fund) like;

  • Opening and Investment Limits.
  • Period of Investment.
  • Interest.
  • Tax Benefits.
  • Withdrawal Moratoriums.
  • Transfer Ability
  • Loan Facility and Others

Documents Required for EPF Return

These are the required documents for EPF Return like;

  • Fill Form 19, it is mandatory for EPF Return.
  • Fill Form 10C, it’s also very necessary for EPF Return.
  • Two Revenue Stamps is required.
  • Statement of Bank Accounts is required.
  • Identity Proof.
  • Address Proof.
  • A blanked and Cancelled Cheque, IFSC Code and Account Number should be visible on it.

Documents in Respect of Proprietor/Partner/Director

  • Copy of PAN Card
  • Copy of Aadhaar Card/ Voter identity card

 

  • Professional fees :

  • 4999/-

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