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CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration. CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said.

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pfreturn

The PF (Provident Fund) return is submitted to the Employees’ Provident Fund Organization (EPFO) by employers in India. It records the details of their employees and their provident fund contributions.

There are two types of PF returns that an employer must file:

  1. Form 5: This is a monthly return that details the following information.
  2. a) The amount of contribution made by the employee and the employer towards the PF account.
  3. b) The date of remittance of the contribution.
  4. c) The total number of employees who have contributed towards the PF account.
  5. d) The total amount of interest earned on the contributions during the month.
  6. e) Any other information required by the EPFO.
  7. Form 10: This is an annual return that provides details of the following.
  8. a) The contributions made by the employee and employer during the financial year.
  9. b) The interest earned on the contributions during the year.
  10. c) The details of any advances or withdrawals made by the employees during the year.
  11. d) The number of employees who have withdrawn their PF amounts during the year.
  12. e) Any other information required by the EPFO.

The deadline for filing the monthly return is the 15th of the following month. For example, the return for the month of February must be filed by the 15th of March. The annual return must be filed before the 30th of April.

Employers can file their PF returns online through the EPFO website or by using the ECR (Electronic Challan-cum-Return) portal. The ECR portal provides a user-friendly interface that simplifies the process of filing PF returns. Employers can also download the return forms from the EPFO website and submit them manually.

It is important for employers to file their PF returns on time as late filing may lead to penalties and interest charges. In case of any discrepancies in the returns filed, employers must rectify them as soon as possible.

In conclusion, PF returns are an important aspect of managing employee provident funds. Employers must ensure that they file their returns accurately and on time to comply with the regulations set by the EPFO.

 

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