PF

PF (Provident Fund)

As compulsory, government-managed retirement savings scheme, Provident Fund enables employees to contribute a part of their savings each month towards their pension fund. Over time, this amount gets accrued and can be accessed as a lump sum amount, at the end of their employment or at retirement. The Provident Fund money is a huge amount that helps you grow your retirement corpus.

PF is the main scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 . The scheme is managed under the aegis of Employees' Provident Fund Organization (EPFO)

Our system allows to view add / edit details of the employees department wise month wise.

Roles

Finance Admin

Path

1. Monthly Provident Fund - Salary » Provident Fund » Monthly Provident Fund
2. Provident Fund A/c Details - Salary » Provident Fund » Provident Fund A/C Details
3. Provident Fund Calculation - Salary » Provident Fund » Provident Fund Calculation
4. Employee State Insurance Report - Salary » Provident Fund » Employee State Insurance Report

Inputs Needed

• Salary for the month should be published.
• Employee Joining date must be updated correctly in the service book.
• Employees date of birth must be updated.

Functionality

• Monthly Provident Fund Report helps to understand employee wise PF deduction for a particular month.
• Employee wise EPS (Employee Pension Scheme) amount can be calculated by Finance Admin.
• ECR (Electronic Challan cum Return) report.
• PF challan can be printed for individual employees as well as department wise.
• Provident Fund Account details helps to add / edit provident fund account details for individual employee.
• Systems also provides report of PF account details of relieved employees.