Employee Provident Fund (EPF) stands as a cornerstone, offering Indian employees a structured means to secure their future. It is a savings scheme introduced by the Indian Government to help employees save a portion of their salary for retirement. Both employees and employers contribute 12% of the employee's basic salary to the EPF account, creating a substantial corpus over the years. The fund is managed by the Employees' Provident Fund Organization (EPFO). Navigating this EPF landscape brings us to the pivotal EPF Form 5.
EPF Form 5 is a form that employers in India must submit to the Employees’ Provident Fund Organisation (EPFO) every month. The form contains details of new employees who are eligible for EPF services. Once an employee is enrolled in the EPF Scheme, they are allotted a Universal Account Number (UAN), against which the employer’s and their EPF contribution gets deposited. The EPFO ensures that all companies under its jurisdiction are registered under EPF. Therefore, a registered employer must provide EPF facilities to all its employees.
What Is EPF Form 5?
EPF Form 5 is filled by an employer every month mentioning the details of new joiners (of last month) who are eligible for EPF services. Employers fill in basic information about the employees and once submitted, each employee is assigned a Universal Account Number (UAN). This form is crucial for enrolling employees in the EPF, it is a key step in the process of ensuring employees to access the benefits of the EPF system.
What is Universal Account Number?
A Universal Account Number (UAN) is a unique 12-digit identification number assigned by the Employees’ Provident Fund Organisation (EPFO) to all salaried employees who contribute a part of their income towards the Employee Provident Fund (EPF). The UAN remains unchanged throughout the employee’s professional life, regardless of the number of times the member changes jobs. The UAN is used to facilitate online services such as checking the balance of an EPF account, downloading passbooks, and making claims for benefits such as withdrawals and pensions.
Who Should Fill EPF Form 5?
Only employers can fill PF Form 5, submitting it monthly to inform the EPFO about new hires. Even if no new employees join in a month, companies still submit the form with 'NIL' indicated under employee details to confirm no recruitment for that month.
How to fill EPF Form 5?
The following details are needed to complete the EPF Form 5:
- Month and year of the submission of the form
- Name and address of the Company/Establishment
- Code number of the Factory/Establishment
- Employee Details Table
- Serial number
- Account number
- Name of the employee
- Father’s name (husband’s name in case of married women)
- Date of birth
- Gender
- Date of joining the fund
- Total period of previous service as on the date of joining the fund (Enclose scheme certificate as applicable)
- Remarks
- Signature of the employer or any other authorized officer of the factory/establishment
- Stamp of the factory/establishment
- Date of submission
- Date of filing the form
Where and how to obtain a physical copy of Form 5?
Employers can download Form 5 from the official website of EPFO. Alternatively, they can obtain a physical copy of Form 5 from the regional EPF Commissioner’s office.
When do employers have to submit EPF Form 5?
EPF Form 5 is to be submitted by employers to the EPF Commissioner’s office on a monthly basis. This has to be submit before 25th of the following month. Employers must mention the details of the newly joined employees that are eligible for EPF benefits during the previous month.
Eligibility of an individual for EPF Form 5?
EPF Form 5 is exclusive to employers, and the employer must be registered under EPFO jurisdiction whereas the employees need to be new joiner in the organisation and not a member of EPF & their employer must submit this before 25th of the next month.
General Instructions to Fill EPF Form 5
- EDLI benefits can be claimed only if the deceased member has been an active contributor to the EPF Scheme at the time of his death.
- Submission of this form, along with Form 20 (EPF withdrawal) and Form 10C/Form 10D (EPS withdrawal), can process all applications simultaneously.
- You can’t fill this form online, it can only be filled offline.
- It must be completed in block letters, and no overwriting is allowed on the form.
- A cancelled cheque should be attached with the form.
How to Correct Details in PF Form 5?
Employees can correct details in Form 5 by following these steps:
- Contact the employer for corrections in EPF Form 5, including name correction.
- Submit these documents: PAN Card, Voter ID Card, Aadhaar Card, Passport, Driver’s License, School Certifications.
- To apply for rectification:
- Download and print the rectification form online.
- Fill in the appropriate details and sign the form.
- Get your employer’s signature and the company’s stamp.
- Attach self-attested copies of the required documents.
Employers have to submit the rectified forms to the local EPFO office and apply to EPFO field offices for corrections.
Conclusion
EPF Form 5 is a crucial document in the EPF framework, enabling employers to enroll new employees and facilitate their EPF contributions. It is essential for employers to adhere to the submission deadlines and ensure the accuracy of the information provided on the form to maintain a seamless EPF experience for their employees.
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