Provident Fund Registration

A Provident Fund Registration is a business that is owned, managed and controlled by two person. It is one of the most common forms of business in India, used by small businesses operating in the organized sectors. A Fssai Registration are very easy to start and have very minimal regulatory compliance requirement for getting started. However, after the startup phase, A Provident Fund Registration offer the promoter a host of other benefits such as Fssai Registration, separate legal entity, independent existence, transfer-ability, etc., which are desirable features for any business. Therefore, Provident Fund Registration are suited for organized, small businesses that will have a limited existence.

Provident Fund

New Company Registration

  • Filing of necessary papers and obtaining PF registration code number for new establishment within prescribed time as per Act.
  • Form 5A (Return of ownership)
  • Form 9 (Revised)
  • Submission of Specimen Signature

Monthly Process

  • Preparation of monthly Challan for EPF & deposited into bank within prescribed time as per Act.
  • Prepare Monthly Return :
    • Form 12A (Revised)
    • Form -5 (New Joinees)
    • Form-10 (Resigned)
  • Preparation of Form- 7(IF)
  • PF Eligibility Register
  • Maintenance of all statutory registers required by the PF authorities.
  • Preparation of Monthly PF Ledger.
  • Nomination & Declaration Forms in Form No. 2 (Revised) of the new employees
  • Declaration form in Form- 11(Revised)
  • Attend PF inspector for inspection of records, appearing before the concerned authorities on behalf of the employer in 7-A proceedings under EPF Act
  • All assessment & inspection from EPF department, when required.
  • Information with regard to any amendment/changes in the act will be informed immediately.

Annual Process

  • Form No. 3-A (Monthly Contribution of the employees)
  • Form No. 6-A (Annual Return)
  • Bank Reconciliation
  • “DBF” Database File in soft copy
  • Assist in issuance of Annual PF A/c slips.

PF Withdrawals & Transfers

  • Receipt of forms (19 & 10-C) after 60 days of leaving of the employee making settlement.
  • Receipt of PF transfer forms (Form 13) from new appointees and sending them to RPFC/Ex-Employers trust for getting the fund transferred through the concerned RPFC office.
  • Taking care the process of PF withdrawals and Transfer within prescribed time as per Act.
  • Scrutiny of papers to ensure that same are within the norms as specified under the rules.
  • Acknowledging the transferred received.

Compliance in r/o International Employees effective from 01.11.2008

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Requirements for Provident Fund Registration

Members

A Provident Fund Registration required at least two members in order to register, both the members can be a Designated Partners cum Shareholder of the company. A Fssai Registration can have upto 200 person as members as per the LLP Act, 2008. It Can Be Converted into Private Limited Company in future.

Designated Partners

In a Fssai Registration there should be minimum two(2) Partners required. To become a Partner , DPIN (Designated Partner Identification Number) has to be obtained. Any Both of the Directors must be a Resident of India, who has stayed at least 182 days in the previous calendar year.

Registered Office Proof

When registering a company, should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This Private Limited Company registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

Name of your Company

Naming your company is the crucial part, a company name has two parts Prefix and a Suffix. Prefix must be unique and different, while Suffix should reflect the business nature of your company. To find your name availability, kindly check with Ministry of Corporate Affairs

SALIENT FEATURES:-

  • Limited Liability Partnership have limited liability for partners.
  • Limited Liability Partnership can sue or be sued in its own name.
  • Limited Liability Partnership Firm works on the basis of an agreement.
  • In the Limited Liability Partnership Firm, if the partner is personally liable for debts and losses then its result of its own wrongful actions.
  • In the Limited Liability Partnership, the losses and debt obtain by a partner is not personally liable for other partners of that LLP.
  • Every Limited Liability Partnership should have minimum two partners and two individuals as the Designated Partners in which at least one should be Indian Resident.

Designated Partners

In a LIMITED LIABILITY PARTNERSHIP REGISTRATION there should be minimum two(2) Partners required. To become a Partner , DPIN (Designated Partner Identification Number) has to be obtained. Any Both of the Directors must be a Resident of India, who has stayed at least 182 days in the previous calendar year.

Registered Office Proof

When registering a company, should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This Private Limited Company registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

PROS :-

  • In LLP there is less compliance burden.
  • Registration cost of Limited Liability Partnership is low.
  • As compared to Private Limited, Limited Liability Partnership is more hassle free and flexible.
  • Limited Liability Partnership have separate legal entity.
  • LLP have perpetual succession.

CONS:-

  • For two foreign partners, its mandatory to have one Indian Resident Partner to form an LLP in india.
  • The duration required for the formation of Limited Liability Partnership is more when compared to Partnership Firm.
  • A Limited Liability Firm cannot raise money from the public.