PF RETURN FILING
Provident fund is a basically a contributions of the employers and employees for the retirement benefits on monthly basis and its mandatory to file the PF return before 25th of each English calendar month .
This form is filed for the purpose of declaration and nomination under the flagship schemes of Employees Provident Fund and Employees Family Pension. It must be filed by an employee when he joins an entity. The form must be submitted along with Form 5. Form 2 is divided into two distinct parts:
Part A of Form 2 specifically deals with nominating the recipients of EPF balance of a particular account holder, in the event of his/her death. The following details of the nominee must be included in this part of the form:
- Relationship with the subscriber
- Sum of money to be paid to the nominee
- Guardian details (in case minor)
Part B should contain the details of the nominee as already specified in Form A. In addition to it, details of the family members who are eligible to receive the children/widow pension must be furnished.
Form 5 is a monthly report which contains details pertaining to the employees who have been newly enrolled into the provident fund scheme. The form must include the following details:
- Name of Organization
- Address of organization
- Code number of organization
- Account number of employee
- Name of employee
- Name of the husband/father
- Date of Birth of the employee
- Date of joining
- Track record of work
Form 10 is a monthly report that contains details of the employees who have ceased to be a part of the scheme on a given month. The following details must be filled in the form:
- Account number.
- Name of employee.
- Name of the father or husband.
- Date of leaving service.
- Reason for leaving service.
Form 12A is a report that includes the details of the payments contributed to the account of the respective employee in a particular month.
ANNUAL PF RETURN FILING
Annual returns must be filed by the company by 30th of April every year.
Known as a member’s annual contribution card, Form 3A depicts the month-wise contributions made by the subscriber/member and employer towards E.P.F and Pension Fund in a particular year. The data is calculated for every member who is a part of the scheme. In addition to it, the scheme will include the following details:
- Account number
- Name of the subscriber
- Name of the father or husband
- Name and address of the factory/establishment
- Statutory rate of contribution
- Voluntary contribution rate, if any
Form 6A is a consolidated annual contribution statement that contains details about the annual contributions of each member of the establishment . The form contains as below –
- Account Number
- Name of the member/subscriber
- Wages, Retaining allowance (if any) and D.A. including cash value of food concession paid during the currency period
- Amount of worker’s contribution deducted from the wages
- Employers contribution (EPF and Pension)
- Refund of advances
- Rate of higher voluntary contribution (if any)
Besides, the following details shall be included in the ‘Amount Remitted’ column of the form:
- Month of contribution
- Remitted contribution including refund of advances
- Pension fund contribution
- EDLI Contribution
- Administration charges
- Aggregate contributions
ANNUAL ACCOUNT STATEMENT
While the employer is entrusted with the responsibility of filing returns through the above-mentioned forms, the Employees Provident Fund Organization (EPFO) is regulated to send the annual statement of accounts to each subscriber through his/her employer. The statement of accounts will reflect the following details:
- Opening balance of contribution, which includes interest of both employer and employee.
- Annual contribution of both the employer and employee.
- Interest earned on contributions.
- Total number of contributions made by the employer and employee.