PF code for New companies: Process & Exceptions

🚀 Starting a new company in India is an exciting journey, but it comes with its share of crucial compliance responsibilities. One of the most significant is EPF registration for new companies, a mandatory requirement under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.Neglecting this can lead to hefty penalties and legal complications down the road. This comprehensive guide will walk you through the entire EPFO registration online process, ensuring your business is compliant from day one.

PF Code for New Companies

• Is Your New Company Required to Register for EPF?
• Online EPFO Registration via Unified Shram Suvidha Portal
  • • Phase 1: Sign Up on the Unified Shram Suvidha Portal
    • Phase 2: Initiate New EPF Registration
    • Phase 3: Receive Your EPF Establishment Code (PF Code)
• Essential Documents for EPF Registration
• FAQs on EPF Registration for New Companies

Is Your New Company Required to Register for EPF?

The primary trigger for mandatory EPF registration is simple:

Your establishment (company, factory, LLP, etc.) must register with the EPFO if it employs 20 or more persons.

I This count includes all employees, whether permanent, contractual, or temporary. Once your employee count crosses this threshold, you are legally obligated to apply for registration within 30 days. Even if you have fewer than 20 employees, you can opt for voluntary EPF registration, which is often seen as a good employee welfare practice.

Online EPFO Registration via Unified Shram Suvidha Portal

Gone are the days of manual applications. The entire EPF registration process is now streamlined and online through the Unified Shram Suvidha Portal (USSP), an initiative under the “Ease of Doing Business” campaign. This portal often integrates both EPF and ESIC registrations.

Here’s your step-by-step guide:

Phase 1: Sign Up on the Unified Shram Suvidha Portal

1. Visit the USSP: Head over to the official Unified Shram Suvidha Portal .
2. Create Your Account: Click “Sign Up” and provide the details of your authorized signatory (Name, Email, Mobile Number). Complete the CAPTCHA.
3. Log In: Use your newly created credentials to log in to the USSP dashboard.

Phase 2: Initiate New EPF Registration

1. Navigate to Registration: On your USSP dashboard, look for an option like “Registration For EPFO-ESIC” and then select “Apply for New Registration.”
2. Choose the Act: Select “Employees’ Provident Fund and Miscellaneous Provision Act, 1952.”
3. Fill the Application Form (FORM 5A): This is the core of your application. Be prepared with the following details:
   • Establishment Information: Your company’s legal name, registered address, PAN, date of establishment/commencement of business.
   • Contact Person: Details of the authorized signatory (Director, Partner, Proprietor).
   • Business Activities: Your primary business function and the relevant NIC code.
   • Employee Details: A list of your current employees, including their names, dates of joining, father’s names, basic salary, Aadhaar numbers, and PANs.
4. Upload Required Documents: Digitize and upload the necessary documents (see list below) in PDF format.
5. Review & Submit with DSC: Carefully review all entered information. Once satisfied, submit the application and affix the Digital Signature Certificate (DSC) of the authorized signatory for verification.

Phase 3: Receive Your EPF Establishment Code (PF Code)

Upon successful submission, verification by the EPFO, and approval, your company will be allotted a unique EPF Establishment Code (often referred to as a PF Code for new company). This is your company’s unique identifier for all future EPF-related activities and is essential for monthly ECR filing.

Essential Documents for EPF Registration

Having these documents ready will make your online application smooth:

• Company/LLP PAN Card: Your entity’s Permanent Account Number.
• Certificate of Incorporation/Registration: Proof of your company’s legal existence (e.g., MOA, AOA for companies, LLP Agreement for LLPs).
• Address Proof of Establishment: Utility bills (electricity, water), rent agreement, or lease deed for your business premises.
• Bank Account Details: A cancelled cheque or bank statement showing your company’s name, account number, and IFSC code.
• Authorized Signatory Details: PAN and Identity Proof (Aadhaar/Passport/Driving License) of all Directors/Partners/Proprietor.
• Specimen Signature: Of the authorized signatory.
• List of Employees: With their date of joining, salary details, Aadhaar, and PAN.
• GST Registration Certificate: (If applicable).
• First Sale/Purchase Bill: To establish business commencement.

EPF registration for new companies is a critical step towards building a compliant and employee-centric organization. By understanding the EPFO registration online process and preparing your documents, you can secure your PF code for your new company smoothly, paving the way for hassle-free monthly compliance.

FAQs on EPF Registration for New Companies

Q1: How long does it take to get an EPF code after applying?

A1: If all documents are in order and verified, the EPF code can be generated within a few working days to a week.

Q2: Can I register for EPF and ESIC together?

A2: Yes, the Unified Shram Suvidha Portal is designed for integrated registration, allowing you to apply for both EPF and ESIC simultaneously in many cases.

Q3: What if my company has less than 20 employees?

A3: If you have less than 20 employees, EPF registration is voluntary. However, it’s a beneficial step for employee welfare and retention.

Q4: What is the benefit of EPF registration for a new company?

A4: Besides mandatory compliance, it provides social security benefits to employees, builds trust, and helps the company attract and retain talent by offering a strong benefits package.

source:epfindia.gov.in