Provident Fund Return

The Workers’ Provident Funds and Other Provisions Act of 1952 governs the Employees’ Provident Fund (EPF) programme. The Workers’ Provident Fund Organization oversees this system (EPFO). Each business that employs 20 people or more is required to register with the PF. Businesses with less than 20 employees can register for PF on a voluntary basis as well.

• To help workers save for their futures in retirement, a social security system known as provident funds was established.
• Monthly payments are made by both the employer and employee. The only time an employee is allowed to cash out their PF balance is upon retirement (with a few exceptions).
• Monthly PF return filing is required of all registered businesses.

Important Points relating to Provident Fund:

• A monthly PF Return must be submitted by all businesses that are PF registered. All PF contributions must be remitted by the 25th of every month. In addition, the final PF return for the year ending on March 31 is due on April 25.
• Every month, on the 15th, you must deposit money into your Provident Fund (PF). Every month, on or before this day, the employer must put away 12% or 10% of the employee’s salary as PF contributions. The PF rate of 12% would apply to the vast majority of businesses.
• UAN: To better serve both companies and employees, the Employee Provident Fund has created the Unified Portal. Those who have been given a UAN can utilise the Unified Portal to get a wide range of benefits.

Due date for Filing PF Returns:

• The due date for Monthly Challan remittance to Bank for PF is 15th of Every Month
• The due date for Monthly PF returns is 15th of subsequent month

When it comes to providing incorporation, compliance, advising, and management consultancy services to customers in India Techmin Consulting is a cutting-edge business platform and innovative idea. With Techmin Consulting, submitting your income tax returns online is simple, quick, affordable, and effortless. Moreover, Techmin Consulting facilitates the filing of GST Returns, TDS Returns, PF Returns, and ESI Returns in addition to Income Tax Returns. We provide free consultations with our compliance manager, who can be reached at 08943620159 or info@techmincsc.in.