PF Consultant in Mumbai | Provident Fund Consultant

Expert Provident Fund Consultant in Mumbai

Which Enterprises EPF is Applicable?

The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act) applies to the following enterprises explained by Provident Fund Consultant in Mumbai

EPF Consultant in Mumbai


Criteria

Applicability

Number of Employees

Establishments employing 20 or more persons

Industry Sectors

Specific industries like Factories, Establishments, Shops and Commercial Establishments

Exemptions

Certain establishments may be exempted from the EPF Act based on specific criteria




Understanding EPF Act in Brief: Kaizen Consultancy Services - Mumbai

The key aspects of the EPF Act include:

  • Mandatory Contributions: Employers and employees are required to contribute 12% of the employee's basic wages and dearness allowance to the EPF.

  • Withdrawal Benefits: Employees can withdraw a portion of their EPF balance for specific purposes, such as purchasing a home, paying for children's education, or medical emergencies.

  • Retirement Benefits: Employees are entitled to receive their EPF balance upon retirement or after completing 58 years of age.

  • Death Benefits: In the event of an employee's death, the accumulated EPF balance is paid to the nominee or legal heir.

  • Disability Benefits: Employees who become permanently disabled are eligible to receive their EPF balance.

Penalties for Non-Compliance with EPF

Failure to comply with the EPF Act can result in various penalties, including:

  • Late Payment of Contributions: Employers may be required to pay interest and damages for delayed EPF contributions.

  • Non-Payment of Contributions: Employers may face imprisonment and/or fines for not paying the required EPF contributions.

  • Failure to Maintain Records: Employers may be penalized for not maintaining proper records and documentation related to EPF.
Provident Fund Consultant in Mumbai


What We Do at Kaizen Consultancy Services - EPF Consultant in Mumbai

At Kaizen Consultancy Services, we are a team of expert EPF consultants in Mumbai who specialize in providing comprehensive services to enterprises of all sizes. Our services include:

  • Ensuring Compliance with the EPF Act
  • Calculating and Managing EPF Contributions
  • Handling EPF Withdrawals and Claims
  • Providing Advisory Services on EPF-related Matters
  • Representing Clients before EPF Authorities

To know more click on below link of our YouTube Video:
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To Contact Us Visit our Website:
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Phone:📞 +91-97731-50167
Sachin Sawant 

PF Consultant in Mumbai
Mr.Sachin Sawant (Proprietor)




Location: Ijmima Complex, Malad, Mindspace, Malad West, Mumbai, Maharashtra 400064

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Need of PF Registration for Businesses Need of PF Registration, The Role of PF Consultant and Benefits of PF Registration Online Mumbai Registering for the Provident Fund (PF) is essential for businesses in India, ensuring compliance with the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. Understanding PF Registration PF registration is mandatory for establishments employing  20 or more employees . However, businesses with fewer than 20 employees can opt for voluntary registration, which provides additional benefits to their workforce. Our team at Kaizen Consultancy Services is well-equipped to guide you through both mandatory and voluntary registration processes. Rules for PF Contribution Contribution Percentage : Both the employee and employer are required to contribute  12%  of the employee's basic salary plus dearness allowance (DA) towards the EPF account. For employees earning above ₹15,000, registration is optional and ...
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