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ABOUT PROVIDENT FUND RETURN

Employees Provident Fund (EPF) is the amount deducted from an individual’s monthly salary, which is later added to his/her EPF account by the employer and is termed as the EPF balance. It is also considered as a part of retirement savings and can be checked through various mobile applications or by the below-given method. If you are an employee and member of EPFO (Employees’ Provident Fund Organization), then you can check your provident fund (PF) statement to know your balance at the end of a year. You can check the EPF balance online anytime through EPFO portal.

FORMS

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 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.

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.

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

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.

CONTRIBUTION

 The contributions are payable on a maximum wage ceiling of Rs.6, 500 by both employee and employer.

 Employee can pay a higher rate but employer is not under any obligation to pay such higher rates.

 In order to pay contribution on higher wages, you are required to submit a joint request from employer and employee. Employer will have to pay administrative charges in higher wages.

 If the employee is an international worker, wage ceiling of Rs.6,500 is not applicable.

DUE DATES

Provident fund return must be filed by all entities having PF registration every month. PF return is due on the 25th of each month. Further, a final PF return is due on the 25th of April for the year ended on 31st March.

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We at NGO WORLDS Working an extensive Network and connections in the corporate world

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