Q.6 What is the difference between EPF 19?Įmployees’ Provident Fund Scheme 1952 and Employees’ Pension Scheme 1995 are two different types of retirement savings scheme. However, the upper age limit for pension is 60 years. Q.5 What is the age limit for EPF contribution?Ĭontribution towards EPF can be done till the age of 58 years.
However, others can also register under the EPF scheme on a voluntary basis.ĮPFO is an abbreviation of Employees’ Provident Fund Organization.
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Q.2 Who is eligible to join the EPF scheme?Ī salaried employee earning less than INR 15,000 and an organization having 20 or more employee is mandatorily required to obtain registration under the EPF scheme. Sample list of services offered by EPFO is-ĮPF is a retirement benefit scheme, wherein, employee and employer contribute in equal proportion on monthly basis. EPFO manages and operates all three schemes i.e., EPF EPS and EDLI. STEP 5 – Fill up the details accurately and submit the application form.Įmployee Provident Fund Organization (EPFO)-ĮPFO is a statutory body formed by the Government of India. STEP 4 – Navigate the path Registration > Registration Under EPF-ESI,
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Click ‘Sign Up’ if the User id and Password is not available or if available provide the same. STEP 3 – Shram Suvidha login page will appear. STEP 2 – Click the ‘Establishment Registration’ icon available on the homepage, 10% towards administration cost of EDLI, andįor obtaining EPF registration, an employer needs to follow the below simple steps.50% towards Employee Deposit Linked Insurance Scheme (EDLI),.33% towards Employees’ Pension Scheme (EPS) andįollowing additional contribution and administration cost is to be incurred by the employer, other than above 12%/ 10% contribution. Notably, a total contribution made by the employer will be distributed in the following manner-ġ. Organization working under the wage limit of INR 6,500.Guar, coir, gum, beedi, brick and jute industries or.The organization who is declared sick by the Board for Industrial and Financial Reconstruction or.Organization incurring loss more than or equal to its net worth or.An organization employing less than 20 employees or.However, the EPF contribution rate will be 10% for both employee and employer for the following organizations. Accordingly, an equal contribution (i.e., 12%) is paid by the employee. In general, the employer’s contribution is 12% of basic salary, dearness allowance and retaining allowance. A salaried employee earning less than INR 15,000 is also mandatorily required to obtain EPF registration.ĮPF Contribution and its distribution thereof. However, an organization with less than 20 workers/ employees can voluntarily obtain EPF registration.ģ. An organization having 20 or more workers/ employees are mandatorily required to register for EPF Scheme and give EPF benefit to the employees.Ģ.
The eligibility criteria for joining the EPF scheme are-ġ. Who is the Eligibility criteria for Employee provident Fund (EPF)?
Insurance Scheme, 1976 (EDLI)- This is an ‘Employee Deposit Linked Insurance Scheme’ which deals with life insurance cover. Pension Scheme, 1995 (EPS)- This is an ‘Employee Pension Scheme’ which aims to generate pension after the specific age.ģ.
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