PF Registration
Employee provident fund is considered as an employee benefit provided as per the scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is monitored by Employees’ Provident Fund Organisation (EPFO) known as the world’s largest social security organisation for the after-retirement benefit of the employee. EPF registration is compulsory for every company, factory or establishment having more than 20 people or more. The ratio of 12% is PF contribution which is distributed equally between the employer and employee in a company. Employee need to register through the website and generate UAN no. which is an individually for one person indicating pf account. EPF is Aadhaar linked and KYC verified. With registering UAN, an employer can not hold or access the account of their employees. Even Employee can keep a track on their employers. The registered number ensures an employee can fully or partially apply for the PF money at the time of need or emergency. UAN no. is track on account which helps EPFO to check out the bank and KYC details easily. Employee provident fund is a great initiative to benefit employees, provide social security and build strong bond or connection between employee and employer.