The Employees Provident Fund Act of India is a welfare legislation enacted for the protection of the rights of the working class. It is applicable on the establishments of the notified classes which employ more than 20 persons at one point of time inside the establishment. Once an establishment is covered under the EPF Act, it remains under the purview of the EPF Act even after the reduction of the number of employees in the establishment.
PROCESS OF REGISTRATION:
The employers are required to file an application for the registration of the establishment after the applicability of the act having come in force, the entire details of the number of the employees, their salaries etc is filed through the registration form which is inspected and then an employer code number is issued, all the employees covered under this Act are issued individual account numbers which identifies their account. The employer is required to make the deposit of the contribution to the account of the employee @ 12 % of his emoluments. In case of the different categories of establishments like Bedi, Jute industries it is 10% only. An equivalent contribution is deducted from the share of the employee and deposited in the account of the said employee by the employer. Besides this the employer is also required to deposit the administrative charges, inspection charges etc
THE RESPONSIBILITY OF THE EMPLOYER:
The duty of the employer is to enroll all categories of the employees, irrespective of the fact whether they are employed through a contractor or are piece rate employees. The contribution and inspection charges are to be deposited by 15th of every month. The returns are filed in Form 9 and 5A whereas the monthly returns in Form 12A, Form 5 and Form10 besides this the monthly and annual challans are also filed. The employer is also under obligation to seek the compliance of the deposits by the contractors employed by it.
The employer is under obligation to file all the challans and returns in time as prescribed, failing which there is a provision to impose penalty, interest against the employers.
The legal services pertaining to the compliance of the provisions of the EPF Act are depositing the contributions, filing the challans, filing of the yearly returns and to allow the inspection of the records at suitable time as and when the same is demanded. The legal services related to compliance of the EPF act are very specific and continuous.
The Employees State Insurance Scheme is a self financing and self regulating social security scheme of the Central Government of India which is controlled by the Standing Committee at the National level and by the Regional Boards and Local Committees at the local level. It requires the mandatory registration of Continue reading →
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GETTING A PERMANENT ACCOUNT NUMBER (PAN) IN INDIA
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POWER OF ATTORNEY
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FUNDAMENTAL RIGHTS UNDER INDIAN CONSTITUTION
Important note: We are Indian law firm providing legal advice on various subjects of law through our highly trained Indian attorneys and Indian advocates. This article is one in such series.
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IPR Laws
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Limited Liability Partnership or LLP in India
Important Note: A blog on the Limited Liability Partnership law in India by Indian law firm.
Formation and incorporation of Limited Liability Partnership in India has been contemplated in the LLP Act of 2009 which controls and regulates the formation and incorporation of an LLP. The process as determined is not as simple Continue reading →
