To stimulate savings among the employees, the Indian government had launched the provident fund scheme so that they can benefits from it during the retirement course. It is a social security scheme.
Employer and the employee makes the contributions on a monthly basis. The amount contribute in the provident fund (PF) can only be withdrawn by the employee when he/she retires, excluding a few limitations.
All the employers who possess PF registration are accountable for filing the PF returns every month. The filing of PF returns must be performed by the 25th of every month. Here are some of the major elements that you should know.
The return filing must be performed every month for Provident fund by all the entities who possess the PF registration. 25th of every month is the due date of PF return filing.
15th of every month is the due date for the Provident Fund (PF) payments. The employer is accountable to contribute a total of 10-12% of the employee salary towards PF on or prior to this date each month. 12% is the PF rate that would be applicable to most of the entities.
The Employee Provident Fund possesses a Unified Portal to simplify all the features of provident fund for both employers and employees. Employees who have got a new UAN can use the Unified Portal for several services.
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