Compliance under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 read along with the Employees' Provident Funds Scheme, 1952
EPF or Employee Provident Fund is an initiative of the government for the proper care of the employees and to ensure their social security. As per the Employees' Provident Funds & Miscellaneous Provisions Act, 1952, EPF Registration is mandatory for each and every hired Employee.
The EPF Registration needs to be done for every single Employee, a Company/ business hires along with the monthly adjustment of the PF in the account. SGC Management Services Pvt. Ltd. provides a complete solution for EPF Online Registration, which provides a great assistance to the business owners to keep their focus on the other jobs of the business rather spending hours for the management of the EPF.
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Compliance under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 read along with the Employees' Provident Funds Scheme, 1952
EPF & MP Act Compliance Services Related FAQs
The Employees' Provident Fund (EPF) Act is a social security legislation that requires employers and employees to contribute a portion of their salary to a provident fund, which is intended to provide financial security to employees after retirement. The Miscellaneous Provisions (MP) Act covers various employment-related regulations beyond EPF, such as gratuity and insurance benefits.
EPF and MP Act compliance ensures that employees receive essential social security benefits, such as retirement funds and other allowances. Non-compliance can result in penalties, legal actions, and financial liabilities for employers, impacting both their reputation and bottom line.