Employees Provident Funds are regulated by the Employees Provident Funds and Miscellaneous Provisions Act, 1952. It applies to whole of India except the State of Jammu and Kashmir. It regulates retirement benefits of the employees providing them the umbrella i.e. financial security and stability during their retirement.
FINANCIAL SECURITY |
|||
EPF ACT COMPLIANCE |
EASY REGISTRATION |
||
TAX FREE |
Every establishment which is a factory engaged in specified industry employing 20 or more employees
An establishment can voluntarily also get registered under the Act having less than 20 employees by entering into an agreement with the existing employees of the organization.
Government of India has taken up an initiative to simplify the registration process under labour laws by establishing a single window system for the registration under various Acts applicable on labour through www.shramsuvidha.gov.in
As per the provisions of the Act, if any person or entity for the purpose of avoiding any payment to be made by himself/itself knowingly makes or causes to be made any false statement or false representation shall be punishable with