The PF is an alphanumeric code allotted to the employer that represents the state, regional office, establishment, and PF member code managed by the EPFO. This act applies to employees drawing wages not more than Rs.15,000/- pm. But at the time of registration, the same employee pay should not exceed Rs. 5,000/-. This act deals with:

• The Employees’ Provident Fund Schemes, 1952,

• The Employees’ Pension Scheme, 1995, and

• The Employees’ Deposit linked Insurance Scheme, 1976 The benefits under the Scheme are paid out of the Employees’ Pension Fund into which the employer and the Central Government contribute @ 8.33% and 1.16% of the wages respectively subject to a wage ceiling of Rs.15,000/- pm.

APPLICABILITY OF PF ACT
• To every establishment which is a factory engaged in any industry specified in Schedule 1 and in which 20 or more persons are employed, and

• To any other establishment employing 20 or more persons or class of such establishments which the Central Government by notification on the official gazette specifies on this behalf.

NON-APPLICABILITY OF PF ACT

• Establishment registered under the Co-operative Societies Act, 1912 or under any other law for the time being in the state relating to cooperative societies, employing less than 50 people without the aid/help of power.

• Establishment belonging to CG or SG whose employees are entitled to the benefit of these Provident any accordance with any scheme or rule framed by the Central or State Government governing such benefits.

• Establishment belonging to a Provincial or State Act whose employees are entitled to the benefit of these provided by any act governing such benefits.

Note: If once such establishment falls within this act, then the act will apply to such establishment even if the number of employee falls below 20. Thus the term “employee” includes –

• Employed by or through the contractor in or in connection with the work of the establishment.

• Engaged as an apprentice, not being an apprentice under the Apprentices Act, 1961.

Basic salary:-

• Equal or Less than Rs.15,000/- pm. Compulsory contribution to PF

• More than Rs.15,000/- pm. Optional to become a member of the PF

Where wages or salary or pay consists of:-

• Basic Salary or Wages

• Dearness Allowances

• Cash value of food concessions

• Retaining allowances

• Leave encashment

Why RuPayKart?

RuPayKart (Government Approved Startup), your trusted legal advisor, provides a cost-effective, reliable, and authentic PF Registration service provider in India. We have a team of Experts in CA, CS & Lawyers having vast knowledge of their respective fields. We register your PF as per the rules and regulations defined by The Employees’ Provident Fund Schemes, 1952, and The Employees’ Pension Scheme, 1995. Post-registration of your PF you will be getting a Certificate of registration, Challan copy instantly. .