EPF Payment - Online, Login, Status, & How to Downlaod Receipt

Every employed person tries to save for rainy days and their retirement. The EPF provision is specially made to have a steady income after retirement. In the EPF fund, the contribution is made by both the employee and the employer at a certain percentage of your basic salary.

As per Indian law, the employer must contribute 12% of the basic salary to the EPF payment fund. The employee also contributes the same amount from their salary. A benefit of having an EPF account is that it is tax-free; hence, you can have a reasonable sum of money available for your use after retirement.

The Employers' Provident Funds and Miscellaneous Rules Act, 1952 governs provisions relating to the fund to maintain the security of the fund and prompt payments by both employers and employees (PF Act). According to the law, all businesses must register with the PF Act, including those that only employ contract employees with more than 20 employees. It should be emphasized that upon the PF Act's activation, the employer organization will continue to be subject to it even if the number of employees falls below 20.

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The business registered with the PF Act must make the payment, even if both the employer & the employee are required to contribute to the PF account. All registered employers must make payments online as of September 2015 or face penalties. If the bank offers direct payment through its website, it can be made there and on the EPF's official website. To collect EPF debt, EPFO presently has agreements with the following banks: Union Bank, SBI, Axis Bank, Kotak Mahindra, BOB, Indian Bank, HDFC, ICICI, and PNB.

Online EPF Payment Procedure

To make the EPF payment online, follow the instructions provided.

EPF Payment and EPF Return Deadlines

The date through which PF from an employee's salary should be withheld is known as the EPF payment due date. Every subsequent month's 15th should be used for this. However, the PF return and payment deadlines, which are on or before the 15th of each month, are the same.

EPF Late Payment Penalty

Two penalties are imposed upon the late payment of an EPF Challan: