Date Format

The date format that is applicable to the login user.

Tell me more

PF Setup Unit

From the drop-down list box, select the Provident Setup Unit for which you require to record the Provident Fund trust details.

Tell me more

PF Trust

From the drop-down list box, select the option “New” to record the new Provident Fund trust details.

PF Trust Code

A unique code to identify the Provident Fund trust.

PF Trust Name

A description of the Provident Fund trust.

PF Fund Type

From the drop-down list box, select any one of the following Provident Fund types for which you require to record the details.

• “Unexempted fund type” maintains the Provident Fund account with Regional Provident Fund Commissioner (RPFC).  This implies that the RPFC administers the PF account and the organization has to pay the administration charges to RPFC.

•  “Exempted fund type” is recognized by the Income Tax department and exempted from the Regional Provident Fund Commissioner (RPFC). This implies that the RPFC does not maintain the Provident Fund account and the organization’s in-house trust does the administration. Thus you require to pay only the inspection charges to RPFC.

• “Excluded fund type” is recognized by the Income Tax Department. It is regulated by the Income Tax act. This implies that the organization maintains the Provident Fund account and the provisions of the PF act are not applicable.

Establishment Code

The code to identify the establishment. This code is the prefix for all the Provident Fund account numbers in the establishment. For example, TN/48800 could be the establishment code of an organization.

Employee Contribution %

The percentage of contribution of PF salary. The PF salary comprises the basic salary and in some cases the PF salary consists of the Basic Salary and Dearness allowance of the employee. For example, 12 % of basic salary and D.A.

Employer Contribution %

The percentage of contribution of PF salary by the employer towards the Provident Fund account.

Maximum Voluntary Contribution %

The maximum percentage of voluntary contribution that the employee  chooses to make at the time of joining.

EDLI Contribution %

The percentage of the PF salary of each employee that must be contributed by the employer towards Employee Deposit Link Insurance (EDLI) scheme 1976.  The EDLI contribution percentage is typically specified as 0.5% of PF salary

EPS Applicable

From the drop-down list box, select “Yes” or “No” to indicate whether Employee Pension Scheme is applicable or not.

EPS Contribution %

The percentage of contribution made by the employee towards Employee Pension Scheme.

Upper Limit of  EPS Salary (Rs)

The amount in rupees denoting the maximum limit of PF Salary against which EPS contribution will be made.

PF Salary Accumulator

The PF salary accumulator is the set of different pay elements, which determine the PF salary. This varies according to the organization.  For example, Basic +DA may form the PF Salary accumulator.

Interest Rate (%)

The rate of interest in percentage for computing the PF interest of members of the Provident Fund Trust.

Interest Computation Rule

The stored procedure rule applied for computing the interest of the Provident Fund.

Help Available

Trust Finance Book

From the drop-down list box, select the Provident Fund trust finance book, which maintains the accounts of the PF trust.

PF Trust Account Code

The account code against which the contributions, PF Interest Calculation etc; will be posted.

Help Available

EPS Account Code

The code that identifies the pension account.    

Help Available

Address1

The address of the Provident Fund trust.

Address2

The address of the Provident Fund trust.

Address3

The address of the Provident Fund trust.

Country

The country where the Provident Fund trust is situated.

State

The state where the Provident Fund trust is situated.

PIN Code

The PIN code of the region where the Provident Fund trust is situated.

Phone 1

The telephone number of the Provident Fund trust.

Phone 2

The alternate telephone number of the Provident Fund trust.

Phone 3

Any other telephone number of Provident Fund trust.

Fax

The fax number of the Provident Fund trust.

Bank Name

The name of the bank, where you have the Provident Fund Trust account.

Bank Account No.

The bank account number of the Provident Fund Trust account.

PAN

The permanent account number issued by the Income Tax department identifying an individual/organization. It is a unique ten-digit alphanumeric number and is quoted for every correspondence with the income tax department. Example, AFRPP1595D. Note that PAN refers to the PF Trust PAN number.

TAN

The Tax Deduction Account Number issued by the Income Tax department entitling the person/organization to deduct tax at source if the payments exceed maximum taxable amount. This unique number is quoted in all relevant challans, tax deduction certificates, TDS returns and other notified documents. Note that TAN refers to the PF Trust TAN number.

TDS Circle

This indicates the specified TDS circle, which is the unit of the Income Tax Department, entitled to collect and levy taxes from the company.

Authorized Signatory

The name of the individual who is authorized to approve all the tax certificates.

Retirement Age

The retirement age of the employee, according to the organization.

EPS Retirement Age

The age until which the employer must contribute for the Employee Pension Scheme (EPS). After the specified age, entire Employer’s ill contribution will be credited to Provident Fund

PF Inspection / Admin Charges %

The percentage of administration or Provident Fund inspection charges to be paid to the RPFC by the employer. You require to pay the administration charges for Unexempted trust whereas, for Exempted trust you require to pay the inspection charges.

EDLI Inspection / Admin Charges %

The percentage of EDLI inspection or administration charges to be paid to the EDLI by the employer. If the establishment is exempted from the EDLI scheme, the employer is required to pay only the inspection charges.

Modification Option

Select “Correct” or “Update” from the drop-down list box.

•  If you select “Correct”, the history of modifications is not stored by the system. The record is merely corrected, and the system treats the modification date of the record to be the same as “Effective Date“ you specified when you created the record

• “Update”, the system stores the history of modifications, by inserting a new record to track each change to the record. The previous record is internally closed. When you select “Update”, you must also enter the date from which the changes must become effective.

New Effective From

If a new PF Trust Record is defined, you need to enter New Effective From Date. Also, if the edit option you chose is “Update”, specify the date from which the current modification will be in effect. The system maintains the “Effective To Date” of the previous record to be one day less than the “New Effective From” date.