Hi,
I have read some of the sites and books and prepared a presentation on the Provident Fund that may be useful for all of you. I am planning to give this presentation in our company's meeting. Please correct or suggest anything if required.
Thanks & Regards,
Vijaya
From India, Hyderabad
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4I have read some of the sites and books and prepared a presentation on the Provident Fund that may be useful for all of you. I am planning to give this presentation in our company's meeting. Please correct or suggest anything if required.
Thanks & Regards,
Vijaya
From India, Hyderabad
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Thnak you the information is very useful. can any one tell me that the the EPF amount should be deducted from basic , dearness allowance is compulsory or not?
From India, Hyderabad
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From India, Hyderabad
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Dear Vijaya, please go through the information mentioned below. I found it online. Please Google and also search for such information on CiteHR before you raise a question.
Regards,
Octavious
PF:
1. The Employees Provident Fund Scheme, 1952
2. The Employees Family Pension Scheme, 1971
3. The Employees Deposit-Linked Insurance Scheme, 1976
Calculations: P.F from Basic
- Employee: 12% (P.F)
- Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22)
=> 13.61% on basic
* Pension (8.33% or 541/- whichever is less)
Regular Activities:
1. Time of Joining: Form 2
Employee should fill, at the time of joining, the nomination & Declaration form.
Form 2 includes the following:
- Name of the employee
- Parent/spouse name
- Date of Birth
- Sex
- Marital Status
- AC No
- Address
- Names, address, relation, Share for each, etc.
Also, for changing nominee names, Form 2 is used. Eligibility begins on the date of joining the firm. Submitted along with form-5.
2. Withdrawals/Dead: Form 10C (Pension) & 19 PF
Form 19 is used for withdrawing the PF amount. Employee and parent/spouse name, name of the establishment, Ac no, reasons for leaving service, contribution for the current financial year, etc. Form 10 is used for pension withdrawal.
Form 19: Employee should fill all information like Bank a/c, name, DOJ…with signature and then Employer like present year contributions, DOR…for PF Fund – Due date: After 60 Days of Resignation.
Form 10C: Employee should fill all information like Bank a/c, name, DOJ…with signature and then employer like present year contributions, DOR…for Pension Due date: After 60 Days of Resignation.
3. Transfer: Form 13
Form 13 is used for transferring an employee AC from one company to another. Both employer and employee have to specify his name, PF AC no, Position, etc., and submit with a covering letter (consolidated list of employees). A photocopy of the above is kept in the PF file for transfer.
4. Employee Register 3A, 6
5. For Advance: Form 31
6. In Case of Employee Expired/Dead:
Process details
Form 10 D (For claiming benefits under Pension)
Employee should fill like Expired/late employee name, nomination name, details, Nomination Bank a/c…for monthly Pension.
Form 20 (For Claiming EPF Contributions)
Employee should fill like Expired/late employee name, nomination name, details, Nomination Bank a/c…for withdrawal of PF Fund (In case of Death of a member).
Form 5 IF (For Claiming EDLI benefits, nominee will get benefit)
EDLI for death case, nominee will get benefit.
7. Form 9 (Register of Employers - Application for Review Filed Under)
Monthly Remittance/Challans:
1. Challans every month before 15th (4 copies/quadruplicate)
2. All A/c (A/c Nos-1,2,10,21&22)
3. To Bank
4. Both employer & employee contribution
- Account group no e.g., Ma mu 1246 (state-first two alphabets/city/acc no: of the company)
- Month
- Total number of subscribers
- Total wages due for each account (wages on which calculations are done)
- Each account's totals (consolidated amount with employer and employee share)
- Name of the establishment and address
- Name and signature of the depositor
- Name of the bank, mode, and date of remittance, etc.
Challan is submitted to the PF office along with form-12A every month.
Monthly Returns:
1. Form 12 A, with all information and employees list of contribution before 25th
2. With Form 5 (new joiners list), form 10 (resigned employees list), challans copy
3. Information about last month's employees, new & resigned employees & this month's staff.
Form 5
- Name of the establishment and address
- Month
- Code no: of the factory
- A c no:
- Name of new employees
- Fathers or Husband's name in case of married women
- Date of birth
- Sex
- Date of joining the fund
- Total period of previous services as on the date of joining the fund
Form 10
- Name of the establishment and address
- Month
- Code no: of the establishment
- A c no:
- Name of member who is leaving
- Fathers or Husband's name in case of married women
- Date of leaving service
- Reasons for leaving service
- Signature of authorized officer and stamp of the establishment
Cross-checking the above is done with the salary statement which includes the number and name of all current employees.
Form 12 A:
- Name of the establishment and address
- Currency period and month (April yr to March yr)
- Statutory rate of contribution (12%)
- Group code (NA for unexampled establishment. Establishments having more than 1000 have to keep a PF trust and have to specify the group code)
- Total wages due for each account (wages on which calculations are done)
- Amount of contribution and amount remitted (consolidated amount with employer and employee share)
- Date of remittance
- Total number of subscribers for the current month.
- Name and address of the bank in which the amount is remitted.
- Details of subscribers for E.P.F, PF, EDLI
-- No of subscribers as per last month
-- No of new subscribers (vide Form 5)
-- No of subscribers left service (vide Form 10)
-- Total no of subscribers (After adding and subtracting the new and retired employees, the number should tally with the monthly list of employees)
Cross-checking the above is done with the salary statement.
Annual Returns:
1. Form 3 A (Individual Computation sheet)
2. Form 6 A (Consolidated Annual Contribution Statement)
3. Before 30th April every year
Form 6A:
- Currency period and month (April yr to March yr)
- Name of the establishment and address
- Code no: of the establishment
- No: of member voluntary contributing at a higher rate
- AC No of each employee followed by their name, annual salary, annual contribution, employer contribution, refund of advance, rate of voluntary contribution.
- This grand total should tally with all form 12 A and challans totals.
Form 3A: Register
This form is filled up for each employee stating his each monthly salary, contribution, Employer share, Refund of advance, No of days/period of non-contributing service, if any (e.g., unauthorized leave). If the employee is resigned during that financial year, then the date of leaving service and reasons for leaving service should be specified in this form. Using Form 3A, form 6 A is filled up and cross-checking is done with all challans and 12 A forms.
* Muster Roll * Wage Register * Inspection Book * Cash Book, Voucher & Ledger * PF worksheet
Forms:
Form 3: Contribution Cards - Individual Computation sheet contains all PF amounts month-wise.
Form 3 A: Contribution Cards – Form
Form 4: Contribution card for employees other than monthly paid employees - Form
Form 5 A: Return of Ownership to be sent to the Regional Commissioner - Form
Form 6: Return of the Contribution Cards sent to the Commissioner on the expiry of the period of currency – Form
Form 6 A: Consolidated Annual Contribution Statement - Consolidated Computation Sheet, contains total employees list, their total half-yearly information. Form 6 is the top sheet and 6A is attachments.
Form 9: Register of employees - Application for review filed under.
Register 3: Individual Computation, there Gross salary, Basic, DA, attendance, PF, Pension Information maintains month-wise. Form 3 is the top sheet and 3A is attachments.
From India, Mumbai
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Regards,
Octavious
PF:
1. The Employees Provident Fund Scheme, 1952
2. The Employees Family Pension Scheme, 1971
3. The Employees Deposit-Linked Insurance Scheme, 1976
Calculations: P.F from Basic
- Employee: 12% (P.F)
- Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22)
=> 13.61% on basic
* Pension (8.33% or 541/- whichever is less)
Regular Activities:
1. Time of Joining: Form 2
Employee should fill, at the time of joining, the nomination & Declaration form.
Form 2 includes the following:
- Name of the employee
- Parent/spouse name
- Date of Birth
- Sex
- Marital Status
- AC No
- Address
- Names, address, relation, Share for each, etc.
Also, for changing nominee names, Form 2 is used. Eligibility begins on the date of joining the firm. Submitted along with form-5.
2. Withdrawals/Dead: Form 10C (Pension) & 19 PF
Form 19 is used for withdrawing the PF amount. Employee and parent/spouse name, name of the establishment, Ac no, reasons for leaving service, contribution for the current financial year, etc. Form 10 is used for pension withdrawal.
Form 19: Employee should fill all information like Bank a/c, name, DOJ…with signature and then Employer like present year contributions, DOR…for PF Fund – Due date: After 60 Days of Resignation.
Form 10C: Employee should fill all information like Bank a/c, name, DOJ…with signature and then employer like present year contributions, DOR…for Pension Due date: After 60 Days of Resignation.
3. Transfer: Form 13
Form 13 is used for transferring an employee AC from one company to another. Both employer and employee have to specify his name, PF AC no, Position, etc., and submit with a covering letter (consolidated list of employees). A photocopy of the above is kept in the PF file for transfer.
4. Employee Register 3A, 6
5. For Advance: Form 31
6. In Case of Employee Expired/Dead:
Process details
Form 10 D (For claiming benefits under Pension)
Employee should fill like Expired/late employee name, nomination name, details, Nomination Bank a/c…for monthly Pension.
Form 20 (For Claiming EPF Contributions)
Employee should fill like Expired/late employee name, nomination name, details, Nomination Bank a/c…for withdrawal of PF Fund (In case of Death of a member).
Form 5 IF (For Claiming EDLI benefits, nominee will get benefit)
EDLI for death case, nominee will get benefit.
7. Form 9 (Register of Employers - Application for Review Filed Under)
Monthly Remittance/Challans:
1. Challans every month before 15th (4 copies/quadruplicate)
2. All A/c (A/c Nos-1,2,10,21&22)
3. To Bank
4. Both employer & employee contribution
- Account group no e.g., Ma mu 1246 (state-first two alphabets/city/acc no: of the company)
- Month
- Total number of subscribers
- Total wages due for each account (wages on which calculations are done)
- Each account's totals (consolidated amount with employer and employee share)
- Name of the establishment and address
- Name and signature of the depositor
- Name of the bank, mode, and date of remittance, etc.
Challan is submitted to the PF office along with form-12A every month.
Monthly Returns:
1. Form 12 A, with all information and employees list of contribution before 25th
2. With Form 5 (new joiners list), form 10 (resigned employees list), challans copy
3. Information about last month's employees, new & resigned employees & this month's staff.
Form 5
- Name of the establishment and address
- Month
- Code no: of the factory
- A c no:
- Name of new employees
- Fathers or Husband's name in case of married women
- Date of birth
- Sex
- Date of joining the fund
- Total period of previous services as on the date of joining the fund
Form 10
- Name of the establishment and address
- Month
- Code no: of the establishment
- A c no:
- Name of member who is leaving
- Fathers or Husband's name in case of married women
- Date of leaving service
- Reasons for leaving service
- Signature of authorized officer and stamp of the establishment
Cross-checking the above is done with the salary statement which includes the number and name of all current employees.
Form 12 A:
- Name of the establishment and address
- Currency period and month (April yr to March yr)
- Statutory rate of contribution (12%)
- Group code (NA for unexampled establishment. Establishments having more than 1000 have to keep a PF trust and have to specify the group code)
- Total wages due for each account (wages on which calculations are done)
- Amount of contribution and amount remitted (consolidated amount with employer and employee share)
- Date of remittance
- Total number of subscribers for the current month.
- Name and address of the bank in which the amount is remitted.
- Details of subscribers for E.P.F, PF, EDLI
-- No of subscribers as per last month
-- No of new subscribers (vide Form 5)
-- No of subscribers left service (vide Form 10)
-- Total no of subscribers (After adding and subtracting the new and retired employees, the number should tally with the monthly list of employees)
Cross-checking the above is done with the salary statement.
Annual Returns:
1. Form 3 A (Individual Computation sheet)
2. Form 6 A (Consolidated Annual Contribution Statement)
3. Before 30th April every year
Form 6A:
- Currency period and month (April yr to March yr)
- Name of the establishment and address
- Code no: of the establishment
- No: of member voluntary contributing at a higher rate
- AC No of each employee followed by their name, annual salary, annual contribution, employer contribution, refund of advance, rate of voluntary contribution.
- This grand total should tally with all form 12 A and challans totals.
Form 3A: Register
This form is filled up for each employee stating his each monthly salary, contribution, Employer share, Refund of advance, No of days/period of non-contributing service, if any (e.g., unauthorized leave). If the employee is resigned during that financial year, then the date of leaving service and reasons for leaving service should be specified in this form. Using Form 3A, form 6 A is filled up and cross-checking is done with all challans and 12 A forms.
* Muster Roll * Wage Register * Inspection Book * Cash Book, Voucher & Ledger * PF worksheet
Forms:
Form 3: Contribution Cards - Individual Computation sheet contains all PF amounts month-wise.
Form 3 A: Contribution Cards – Form
Form 4: Contribution card for employees other than monthly paid employees - Form
Form 5 A: Return of Ownership to be sent to the Regional Commissioner - Form
Form 6: Return of the Contribution Cards sent to the Commissioner on the expiry of the period of currency – Form
Form 6 A: Consolidated Annual Contribution Statement - Consolidated Computation Sheet, contains total employees list, their total half-yearly information. Form 6 is the top sheet and 6A is attachments.
Form 9: Register of employees - Application for review filed under.
Register 3: Individual Computation, there Gross salary, Basic, DA, attendance, PF, Pension Information maintains month-wise. Form 3 is the top sheet and 3A is attachments.
From India, Mumbai
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