Provident Fund is a social security system that aims to promote savings among employees. It gives benefits to employees during the retirement process. During working life, both the employer and the employee contribute to the fund monthly. Any employee can now easily request the PF Return File through the unified portal.
Money from the EPF account cannot be withdrawn during employment, Employee can save a considerable amount of money through PF over the period of time.
PF is widely accepted as tax savings investments. Your contribution is tax deductible under Section 80C of the Income Tax Law.
Retirement planning is the process of determining retirement income goals and decisions necessary to achieve those goals. The money saved for retirement can help you overcome any unpleasant circumstances, whether in terms of health or wealth, in the future.
preferred employers are companies where people are so engaged in their jobs that they’re not looking for employments elsewhere. Employee prefer to work under the employer who have registration under PF.
The following Documents are required.
BANK CHEQUE:
You’ll need to send a scanned copy of a cancelled cheque
Ownership details and necessary proof.
Application date, number of excluded employees & date on which employees crossed 19 or relevant threshold
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