PF Registration

Provident Fund

A Provident fund is a mandatory, government-managed retirement savings scheme similar to the Social Security Program(SSP). Employees contribute a small amount of their salary and even the company shares an amount on behalf of the employee which can be used by the employee for future use.The Indian Government established this scheme in 1952 established for the benefit and welfare of the employees.Employees Provident Fund is one of the main platforms for saving money for all the people who are working as an employee.

 

Companies that have employee strength of 20 or more are required to be registered with PROVIDENT FUND (PF) Department. In case there is any delay or issue, some penalties will be charged on the same.

BENEFITS OF PROVIDENT FUND

Helpful for insurance.

It can be helpful for various occasions and situation needs.

Interest on the saved amount.

After 10 years, you are eligible to get the lifelong pension as per the Employees’ Pension Scheme 1995.

PF can lead to a pension in the future.

ELIGIBILITY FOR HAVING PROVIDENT FUND

  • The one whose pay is more than 15000 per month.
  • An employee is eligible for membership from the day of joining.
  • Visit MAB Accountants Website.
  • Provide the required documents to us.
  • An acknowledgment will be provided by our end.
  • Finally, the document will be delivered to you at the end of the process.