The parliament of India passed the EPF & MP Act, 1952 in 1952 and was brought into operation on March 4th, 1952. There were number of legislative meetings to set the direction and the outcome was Employees’ Provident Funds & Miscellaneous Provisions Act, 1952. Following are the three schemes that are currently on under this act.

  • Employees’ Provident Fund Scheme, 1952
  • Employees’ Deposit Linked Insurance Scheme, 1976
  • Employees’ Pension Scheme, 1995 (replacing the Employees’ Family Pension Scheme, 1971)

EPF Organization happens to be the largest PF institution of the world when it comes of members and number of financial transactions taking place every year.

Following are the documents required by a manufacturing unit while registering for Employees Provident Fund Organization:-

  • Copy of first partnership and Memoranda And Articles Of Association
  • Details from ledger such as:-
    1. First purchase of raw material
    2. First salary and wages paid
    3. First sale record
    4. First rent payment made
  • Copy of assessment order of first sales tax
  • Copy of assessment order of first income tax
  • Balance sheet of first year’s transactions
  • Registers of salary and wages, all vouchers, all balance-sheets from day one to current date of provisional coverage
  • Certificate of C.S.T and B.S.T 
  • Book of accounts maintained since day one
  • In case of a Limited Company, you need to submit annual reports since day one otherwise balance sheets or P&L account
  • Licence or registration certificate obtained for shop and establishment
  • In case of partnership firm, you need to present partnership deed
  • In case of Limited Company, you are required to present Memorandum Of Association And Articles
  • Register maintained for salaries and wages and register maintained for recording attendance since day one
  • Record of monthly strength of numbers of employees since day one
  • A detailed list of all directors, partners and owners along with their full contact address
  • Records about the bankers, financers and investors along with their full contact address and also the details of the person responsible for handling financial affairs of the company

Employers must take care of following points while registering for Employees’ Provident Fund Organization.

  • Enrol the employees with EPF organization from the right date
  • Send timely returns through Form 5A, revised F9 Form, revised F2 Form, monthly returns through F5, F2, F10, F12A Forms and also the challans and annual returns in Form F3A and Form F6A
  • Employers must maintain an inspection notebook to show his observation records
  • To follow all the rules laid down by Central Board For Proper Implementation Of The Scheme
  • Pay the funds in not more than 15 days of the close of the month to the shares of contribution, administrative charges and inspection charges