PF Return Filing

The EPF Scheme, established by the government, is a social security initiative to promote savings among employees and ensure post-retirement benefits such as pensions.Through regular contributions deducted from their salaries, employees accumulate savings over time. Upon retirement or leaving their jobs, these savings can be accessed as a lump sum payment.

Under the EPF scheme, employers and employees contribute 12% of basic pay. While 3.67% of the employer’s contribution is directed to the employee’s EPF account, the remaining 8.33% is allocated to the Employees Pension Fund (EPF).

Employees can withdraw EPF amounts upon retirement (at or after 58 years of age), unemployment for two months, or in the event of death before the specified retirement age.

Regularly filing returns offers numerous benefits for both employers and employees, which include:

  • Compliance with Legal Requirements: Filing Returns is a legal obligation, and adherence ensures avoidance of penalties and fines for non-compliance.
  • Employee Security: PF contributions form a crucial component of an employee’s social security. Consistent return filing guarantees that these contributions are accurately recorded, safeguarding employee financial security.
  • Tax Advantages: PF contributions are eligible for tax deductions. Consistent PF filing facilitates employers in claiming these tax benefits, contributing to overall financial efficiency.
  • Organized Record-Keeping: Regular filing of returns enables employers to maintain systematic records of employee PF contributions. This organized approach simplifies the tracking and managing of employee benefits, fostering efficient administration.
  • Employer’s contribution amount to EPF
  • Employee’s contribution amount to EPF
  • ECR (Electronic Challan cum Return) Challan copy
  • Details of UAN (Universal Account Number), with KYC compliance, of employees