PF & ESI Return
Provident Fund or PF is a social security system that was introduced for the purpose of encouraging savings among employees, so as to benefit them during the course of their retirement. Contributions are made by the employer and the employee on a monthly basis. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions. All employers having PF registration are responsible to file returns on a regular basis. 25th day of the month is the last for employers to file in the PF return. This article deals with the filing of provident fund returns, and the various forms through which the purpose must be fulfilled.
Employers can now easily file Monthly PF Return Filing with the help of unified portal.
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 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
- Details of the guardian if the nominee is a minor.
Part B should contain the details of the nominee as specified in Form A. In conjunction to it, details of the family members 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 12A is a report that includes the details of the payments contributed by the company in a particular month to an employee account.
ESIC’s registered companies have to submit their return annually. In which they have to show all the changes done during the preceding year. They also have to submit the ESI contribution paid, once in every six months, its contribution period is 1st April to 30th September and 1st October to 31st March, which has to be submitted to the nearest branch office with form no. 5 which was previously form no. 6 along with ESI challan. The last date of submission of ESI return is within 42 days from the end of half yearly period which will be 12th November for period April to September and will be 12th may from October to March.
Every employer has to pay his contribution from wages bill and should pay this contribution at given rates by the ESIC to the designated branches of SBI and some others banks to receive the payment on its behalf. Royal Tax Solution is leading financial ESI Consultant in Kolkata providing Online ESI Return Filing to firms rendering their ESI Return Service in Kolkata.
An employer can fill the Online ESI Return Filing through the Employee State Insurance corporation’s website by following the procedure:-
- Every employer is given a unique 17 digit code which is given at the time of ESIC registration. It will be used as a user id and password as given to you.
- Then select the monthly contribution section in the home page and go to RC and select it.
- After proceeding all the details of the employee’s paid contribution by the employer along with the wages detail will be displayed on the screen.
- Make the short payment of contribution for any employee if any, then supplementary challans have to generate by using the modify challan option under the section of a monthly contribution.
- Then go to self-certification under the monthly contribution section. Please checkmark the declaration and click the submit button. If you are employing forty or more employees, please upload a chartered accounts certificate before clicking on the submit button.