EPF Return Filing
4 Points You Must Know About EPF Return Filing
1. EPF Return Filing on Monthly Basis :
EPF return filing needs to be done every month.
2. Rate of deduction:
The employee’s deduction rate is 12% of basic salary, and dearness allowance and employer’s own contribution is also 12%.
3. Payment Due Date:
In the case of EPF , the due date of payment is the 15th of every month for the previous month’s contribution.
4. Return Due Date:
EPF return due date is the 15th of the following month. Moreover, this return has to be filed on monthly basis.
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FAQ`s About EPF Return Filing
1. What is PF Return?
Any employer employing more than 20 employees has to deduct 12 % of the basic salary and dearness allowance from the employee and contribute 12% as their contribution every month and deposit it in the EPF account of the employee. Further, the Employees Provident Fund Organization of India (EPFO) manages and maintains these EPF Accounts.
Also, the above employers have to file a return containing details of PF paid to the government. This return is known as PF return. Further, we need to file the PF this PF return online and by the 15th of next month.
2. What is PF Return due date?
PF return due date is the 15th of the following month.
3. How to do PF challan download?
To download the PF challan, we need to perform the following steps:
1: Visit the website: https://www.epfindia.gov.in/site_en/index.php
2: Click on the employer portal
3: Log in with Epfo user id and password
4: Go to the Payments option
5: Select Payment ECR from the dropdown
6: Select the month to download the challan
7: Click on the download option
4. What is an EPF calculator?
EPF calculator is an online tool that helps employees estimate the total accumulated EPF amount at the time of their retirement. Further , to use the tool, you need to include details such as retirement age, basic monthly salary, expected salary increases and contribution to EPF, etc. After that based on your input, it calculates the estimated EPF corpus at the retirement time.
5. What is employee contribution to PF?
The employee contribution to PF is 12 % of his basic salary and dearness allowance.
6. How to do PF calculation on salary?
The employer and employee both contribute 12% of the basic salary and dear allowance as a PF contribution. Further , this employer contribution of 12 % is subdivided into two parts.
3.67 % goes to the Employee Provident fund, and 8.33 % goes to Employee Pension Scheme. However , the employee contribution of 12 % whole goes to the Employee Provident fund.
7. What is PF Challan?
We need to pay the total employer and employee contribution online by filling a challan. The “Prepare challan” option comes after we submit the “ECR” for a particular month. After that , we need to make online payment of this automatically generated challan . Further , this challan contains the detail of employee and employer contributions. After payment, we can download this PF Challan for record purposes.
