Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Employee Provident Fund Scheme is one of the most useful employee beneficial scheme introduced by Ministry of Labour. PF registration is mandatory for employers who have more than 20 employees in their organization. The contributions for Provident Fund are made both by the employer and the employee every month. Annual returns of PF is a must and it has to be filed by the 30th of April every year. Form 3A and Form 6A are the two forms used to file annual Provident Fund return. The filing of returns must be completed by the 25th of each month.
During the working tenure, employee and employer both contribute 12 percent of the basic salary of employee into EPF account. Employee's entire 12 percent goes into EPF account and Employer's 3.67 percent is transferred into EPF account of employee. Rest 8.33 percent from employer's side is diverted in Employees Pension Fund (EPF).