- Applicability – PF return must be filed by entities having PF registration. PF registration is mandatory for all employers having 20 or more employees.
- Due Date – PF return is due on the 15th of each month. In addition to PF return, the entity may also have to file ESI return on the 15th of each month.
Provident fund is a social security system that was introduced for the purpose of encouraging savings among employees, so as to benefit them during the course of their retirement. Contributions are made by the employer and the employee on a monthly basis. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions. All employers having PF registration are responsible to file returns on a monthly basis. The filing of returns must be completed by the 15th of each month.
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It is obligatory that employees’ drawing less than Rs 15,000 per month, to become members of the EPF. As per the guidelines in EPF, employee, whose ‘basic pay’ is more than Rs. 15,000 per month, at the time of joining, is not required to make PF contributions. Nevertheless, an employee who is drawing a pay of more than Rs 15,000 can still become a member and make PF contributions, with the consent of the Employer.
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