The Provident Fund, which has been registered with the Securities and Exchange Commission (SEC), is a separate legal entity that is totally cut off from both the employer and the investment management company. Employees (provident fund members) can be assured that the assets of the fund will not be affected by any liabilities the employer or the investment management company may have in the case of financial insolvency. We will discuss all about filing PF Return annually.
Provident fund is a scheme which is managed by the government, for the employees who can contribute a part of their pension fund every month. When you retire or leave your job, you can conveniently access these monthly savings as a lump sum. PF registration can also be obtained voluntarily by establishments having less than 20 employees.
This is a monthly return that must be submitted by the employers via the Employer e-Sewa portal. The return will include fundamental information for both new and departing members as well as member-specific information about the salaries and contributions.
The yearly PF returns are filed using the following forms:
The Employee Provident Fund and the Employee Pension Fund are represented month-by-month on the Form 3A by the employer and subscriber. It also includes the following information.
The yearly contribution information for each member is included in Form 6A, which is a consolidated annual contribution statement. The information listed below must be included in the form:
In addition, the following information should be written in the “amount remitted” column:
PF (Provident Fund) Benefits are-
Annual Provident Fund returns are required, and they must be submitted by April 30 of each year. The two forms required to submit an annual Provident Fund return are Form 3A and Form 6A. The Provident Fund is a social security system which was introduced to encourage employees to save and to help them in their retirement. Every month, both the company and the employee make contributions to the PF.
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