What are all the documents required for PF registration?

What are all the documents required for PF registration?

Documents required for PF registration for employer

• Name of applicant/employer.
• PAN card details.
• Valid ID which includes driving license, passport, voter ID card.
• Address proof of the place in which the business is being carried out.
• Residential address proof.
• Phone number.

How can I get PF registration certificate?

EPF Registration Steps for Employers

1. Select Establishment Registration.
2. Select Download Manual.
3. Select Sign-up Button.
4. Enter Basic Details.
5. Apply for New Registration.
6. Click on Submit Button.
7. Digital Signature.

How much time PF registration takes?

What is the time taken for EPF employer registration? It will take 10-15 working days.

Is PF compulsory for employees?

EPF eligibility criteria 15,000 per month, it is mandatory for you to be opened an EPF account by your employer. Organizations with 20 or more employees are required by law to register for the EPF scheme, while those with fewer than 20 employees can also register voluntarily. If you are drawing a salary higher than Rs.

Can I increase my basic salary?

“Generally, a higher basic pay enhances the tax exemption limit for HRA. It also increases contribution towards retirement benefits like provident fund (usually 12 per cent of the basic pay) and superannuation fund, which means a lower take-home salary,” says Parizad Sirwalla, partner, Tax, KPMG.

Why is my basic salary low?

Basic Salary is the component that is related to other sub components of Salary – HRA (House Rent Allowance), PF (Provident Fund), Leave Encashment, etc… With Low Basic Salary, all the components will be lower. For example, PF will be deducted lower thereby increasing your In-hand salary and lowered investment in PF.

Is basic salary should be high or low?

Basic Salary Tax Liability Basic salary is always taxable and should, therefore, not be more than 40% of the cost to company. However, it should also not be kept too low since it will then result in reduction in the other constituents of the salary.

What is basic salary percentage?

Basic Salary: It is the employee’s basic income and is around 40%-50% of the total salary. The employer pays the employee for his skill, experience, and qualifications. The basic salary is a fixed component of the CTC (Cost To Company) package.

What is the formula to calculate monthly salary?

Since October has 31 days, the per-day pay is calculated as Rs 30,000/31 = Rs 967.74. This is a variant of the Calendar day basis. In this method, the pay per day is calculated as the total salary for the month divided by the total number of calendar days minus Sundays.