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PF Returns

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PF Returns

File error-free PF Returns and in-time. File your PF returns through experts ThinkBiz Filings Prices start at INR 1,999/- only.

 
 
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What is a Provident Fund Return?

All you need to know

Provident Fund:

Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated by Employees’ Provident Fund Organization (EPFO). PF registration is applicable for all establishment which employees 20 or more persons. PF registration can also be obtained voluntarily by establishments having less than 20 employee.

  • Provident fund is a social security system that was introduced for encouraging savings among employees, so as to benefit them during the course of their retirement.
  • Contributions are made by the employer and the employee monthly. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions.
  • All employers having PF registration are responsible to file returns monthly.

Important Points relating to Provident Fund:

  • PF Return: Provident fund return must be filed by all entities having PF registration every month. PF return is due on the 15th of each month. Further, a final PF return is due on the 15th of April for the year ended on 31st March.
  • PF Payment: Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date every month. For most entities, the PF rate of 12% would be applicable.
  • UAN: The Employee Provident Fund has launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees who have the newly allotted UAN can use the Unified Portal for various services.

PF returns PF registrations

Due date for Filing PF Returns:

  • The due date for Monthly Challan remittance to Bank for PF is 15th of Every Month
  • The due date for Monthly PF returns is 15th of subsequent month
  • The due date for yearly returns is 30th April every year.

Why Thinkbiz Filings as your service provider for filing PF returns?

Thinkbiz Filings is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Filing PF Returns is easy, seamless, cheaper and quicker with Thinkbiz Filings! Apart from PF returns, Thinkbiz Filings also helps you to file Income Tax ReturnsTDS Returns, GST Returns and ESI Returns easily. You may get in touch with our compliance manager on 09704561215or email info@Thinkbizfilings.com  for for free consultation.

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Compliance Requirements for a Partnership Firm

Income Tax Return

    Partnership firms must file annual tax returns. The due date is 31st July for non-audit cases and 30th September for audited firms. Timely filing ensures compliance, avoids penalties, and maintains legal standing.

    GST Compliances

      Partnership firms must register for GST if turnover exceeds the prescribed threshold. Regular GST return filing is mandatory to ensure compliance, avoid penalties, and maintain smooth business operations under GST laws.

      TDS Compliance

        Partnership firms must deduct and deposit Tax Deducted at Source (TDS) if liable under the Income Tax Act. Timely filing of TDS returns ensures compliance, avoids penalties, and maintains smooth financial operations.

        Accounting

          firms must maintain proper books of accounts reflecting an accurate and fair view of financial affairs. Each partner’s capital, withdrawals and profit share should be recorded separately to ensure transparency

          Tax Audit (if applicable)

            Required for partnership firms if business turnover exceeds ₹1 Cr or professional receipts surpass ₹50 Lakh under Section 44AB, ensuring regulatory compliance and accurate financial reporting.

            Firm Updates

              Partnerships must file updates on any changes in firm structure, such as partner additions, removals, or modifications to the partnership deed, ensuring legal compliance and transparency.

              Documents Required for Partnership Firms

              Quick Checklist

              • PAN card of all partners of the firm.
              • Aadhaar/Passport/Voter ID/Driving License of all partners.
              • Latest utility bill, rent agreement, or ownership proof of the firm’s office.
              • Latest bank statements of partners.
              • Recent photos of all partners.

              Key Benefits of a Partnership Firm

              Points to make your decision easy

              Ease of Formation

                Partnership firms have a straightforward registration process with minimal legal formalities, making them easy and cost-effective to establish.

                Tax Benefits

                  Partnership firms avoid double taxation, as profits are taxed only at the firm’s level and not again in the hands of partners, ensuring tax efficiency.

                  Lower Compliance

                    Partnership have fewer regulatory requirements and legal formalities compared to corporations, reducing administrative burdens and operational costs.

                    Decision-Making

                      Partnership firms enable quick decisions without extensive regulatory approvals, allowing for agile business operations and faster implementation of strategies.

                      Profit Sharing

                        Partners can distribute profits as per the agreed ratio in the partnership deed, allowing flexibility and mutual benefit in financial management.

                        No Minimum Capital

                          Partnership firms have no minimum capital requirement and can be registered even with Rs. 10,000 as total capital, providing flexibility in business setup.

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                          FAQs On PF Returns
                          Get answers to all your queries
                          • The Employees’ Provident Fund (EPF) is a social security scheme managed by the Employees’ Provident Fund Organization (EPFO) that helps employees save for retirement. Both employers and employees contribute 12% of the employee’s basic salary towards the fund.
                          • Any employer with 20 or more employees must register under EPFO and file PF returns. Employers with less than 20 employees can register voluntarily.
                          • Employers must file: Electronic Challan cum Return (ECR) every month. Annual return (Form 6A & Form 3A) once a year. Monthly details through the Unified Portal.
                          • PF Contribution Payment: 15th of the following month. PF Monthly Return (ECR): Before the 15th of the following month. Annual Return (Form 6A & Form 3A): By April 30 of the next financial year.
                          • Employers may face: Late fee of ₹5,000 for delayed returns. Interest at 12% per annum for late payments. Penalty ranging from 5% to 25% per month for non-compliance.
                          • PF returns are filed online via the EPFO Unified Portal (https://unifiedportal-emp.epfindia.gov.in/epfo/).
                          • Employers need: Employee details (UAN, Aadhaar, salary details). PF challan payment proof. Monthly and annual PF return forms.
                          • Employees earning more than ₹15,000 per month can opt not to contribute, but if they were already enrolled, they must continue contributions.
                          • Yes, employees can withdraw PF partially or fully under certain conditions like medical emergencies, marriage, home loan repayment, or unemployment for over 2 months.
                          • Companies must undergo an audit if required by EPFO based on compliance and contributions. Let me know if you need assistance with PF return filing!
                          • Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@thinkbizfiling.com or call us @+91 970 456 1215

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