PF

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Revision as of 07:19, 24 March 2020 by Ashwin.vanarase (talk | contribs)
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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.