EPF registration service provider in Kanpur, Uttar Pradesh
EPF also called as Provident fund or PF is a social security benefit scheme given to all the salaried employees by the government. It is the benefit provided by the employer apart from the salary. An employee can fall back for financial support on this fund after his retirement. Every account receives an annual interest.
Registration of organizations that have more than 20 employees is mandatory. EPF will be calculated on gross salary except HRA and variable allowances. The employee will be responsible for a contribution of 12% whereas the employer’s contribution will be 13% including admin and EDLI charges. If an employer is not registered under EPF or indulges in wrong depiction of PF payments will be legally responsible for huge penalties.
Withdrawal:
EPF can be withdrawn entirely or partially.
Complete withdrawn of the EPF can be under the following circumstances:
- When a person retires
- When a person is unemployed for a period of more than two months
To withdraw on the above criteria requires attested documents proving unemployment by a gazette officer.
Partial withdrawal can be done under the following circumstances which are subject to certain conditions:
- Medical Purpose
- Marriage
- Education
- Purchase of land
- Home loan repayment
NAS Solutions can rightfully boast of an experience that can assist you in complying with the norms set under EPF guidelines.
For assistance, call us at: +91 7991215696