EPF Form 5

epf form 5

As we all know, the Employees Provident Fund or EPF is a scheme that offers unending perks to every individual who is a part of the scheme. And to add new individuals and provide the same benefits, the employer must fill the EPF Form 5 for them. Employees who are not a part of the EPF scheme are eligible to fill the form with the help of their employer.

And, any company with more than 20 employees has to register themselves on the EPFO portal. Thus, both the employer and the employee have to fill some specific forms to complete the EPF process. 

In this blog, we have mentioned all the details about EPF Form 5 that is filled by the employer. You can have a better look at the details of the EPF Form 5. 

Let's dive in,

What is form 5 EPF?

EPF Form 5 is an integral document for every company registered with the government under the Employees Provident Fund scheme. And, it works mostly as a monthly report that offers insight about every new employee added to any organization or company. Some of the joinees are fresher, some are skilful, some join to find better scope in terms of payment or better opportunity and form 5 helps the government to know about such talented citizens. 

Filing form 5 is the responsibility of the employer. The employer has to make sure that employees who join their organization are successfully enrolled under the EPF scheme before the 25th of next month. 

This EPF Form 5 is mentioned in para 36(2) since the time of the launch of the Employees’ Provident Funds Scheme in the year 1952. Therefore, it is mandatory.

Why do we need EPF form 5?

EPF Form 5 is a very vital form for every new joinee in any organization if they don't have any experience with the Employees Provident Fund Scheme. New members of an organization can avail all the perks of EPF, with the help of this form. Without EPF, the future of any employee will not be secure. Therefore, it is the responsibility of the employer that every individual working in his or her organization falls under the  Employees Provident Fund Scheme.

How to Download EPF Form 5?

To download the EPF form 5, one has to visit the website and then download the form from here,

https://www(dot)epfindia(dot)gov(dot)in/site_docs/PDFs/Downloads_PDFs/Form5(dot)pdf

How to fill EPF Form 5?

When an employer fills EPF Form 5 for a new employee, he or she has to fill in all the details about an employee and their establishment. Here we will show you how to fill the form 5 PF, you just have to follow the steps:

  1. Name of the company/organization/establishment
  2. Complete address of the company/organization/establishment
  3. Fill the employee detail table with information like - Account Number, Name of the employee, Father or Husband's name, their date, month, and year of birth, gender, date of joining the organization, and the time-period for which they have worked for in previous times. If someone wants to add remarks, it is also possible.
  4. The signature of the authorized officer or owner of the establishment.
  5. Finally, the stamp of the company/organization/establishment
  6. The date on which the EPF Form 5 is to be submitted.
  7. The date of filing the form.

How to rectify the employee details in Form 5 PF?

Using the below-mentioned steps, any employee can rectify their information present on form 5:

  • One has to download the rectification form online and take its printout. 
  • Fill in the relevant details.
  • Sign the rectify form.
  • Use employers signature and establishment's stamp
  • Attach the self-attested copies of required documents.
  • Now, the employer has to submit the rectified form to the regional EPFO office.
  • The employer also has to apply to EPGO field offices and request for correction of errors.

What are the key points of EPF Form 5?

Here are some crucial key points of EPF Form 5:

  • The employer must be registered as a verified user under EPFO jurisdiction.
  • The employer has to fill Form 5 and submit it before the 25th of the upcoming month.
  • The employee must be new and not a part of the Employee Provident Fund Scheme.
  • The company must check the specified features from Form 2 and Form 11 such as - nominations

How to know the eligibility of an individual for Form 5?

The form 5 pf is only to be filled by the employer and the only eligibility criteria is that the employer must be registered under EPFO jurisdiction. 

 Whereas, for the employee the only criteria is that they are new joinees in an organization and are not members of EPF and their employer must fill the form 5 before the 25th of the next month.

What are the requirements for filing Form 5 EPF?

The documents requirement for filing the EPF Form 5 for the employer and the employee are as follows:

For Employer:

  • Name of the organisation as on its PAN
  • PAN number
  • Address of the establishment
  • Document for address verification
  • Contact Number of the company
  • Email Address of the company
  • Organization stamp on the form

For Employee 

  • Name
  • Address proof
  • Gender
  • Date of Birth
  • Account details
  • Father or Husband’s name
  • Date of joining the company
  • Time period for which they serve in the previous company
  • Voter ID Card
  • PAN Card
  • Aadhaar Card
  • Driver’s License
  • Passport
  • School Certifications

Where to submit EPF Form 5?

Employers have to submit EPF form 5 to the EPF Commissioner of that region. EPFO (Employees Provident Fund Organisation) has around one-hundred thirty-five offices across the country. Therefore, employers can contact their regional office and notify the EPF Commissioner about the new joinee in their organization.

What are the benefits of EPF Form 5A?

With the help of EPF Form 5, all the employees will become members of EPF. Therefore, the benefits for them only multiply. Here are the perks of becoming a EPF member:

Save Tax – Under the Indian Income Tax Act 80 C, if an employee contributes its salary towards their PF account then they are eligible for exemption in tax. Also, the amount earned through the EPF scheme, will be exempted from taxes. 

Increment in Capital – The EPF online scheme offers a pre-decided interest on the deposited amount held with EPF. Moreover, the rewards at maturity also extend to ensure growth in the funds and thus speeds up the capital appreciation.

Money At The Time of Retirement – Further, the employer contributes 8.33% of funds in the Employee Retirement Scheme of an employee. EPS is a long term process. But it ensures easy retirement of an individual without any requirement of earning. Also, the individuals don't have to rely on others with the help of these funds.

Emergency Money – If an employee needs money in an emergency then they can withdraw the partial amount from their Employee Provident Fund. Therefore, the funds of EPF work as savings and emergency cash.

Premature Withdrawal – All the members of EPF India can enjoy the benefit of partial withdrawal and can withdraw money from their PF account. They can have retirements like - pursuing higher education, constructing the house or to bear wedding expenses, or for obtaining medical care.

Lay-off - In case, there is any unexpected layoff from the job, the employee can use this EPF fund until that individual receives a stable job. 

Demise of EPF member -  If the employee passed away then the amount received including all the interest on the funds will be transferred to the nominee of the employee. This will help a family even after the working member is no more. 

If the Employee Becomes Disabled - If somehow the employee becomes physically disable partially or completely and is not in the condition to continue to work that person can claim the funds and support his or her family in such difficult times.

Final Words!

We hope that now you have completely understood why EPF form 5 is necessary for both the employer and the employees. Getting enrolled under the EPF scheme is the most beneficial decision of one's life as it has many perks that one can use throughout his life and even after retiring. 

You can comment on your views and queries related to Form 5 pf from anywhere and at any time. We are here to assist you!

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Frequently Asked Questions (FAQ's)

Who fills and submit Form 5?

Only employers have to fill the EPF Form 5 every month.

Where do I submit Form 5 IF?

The form will be sent to the EPF Commissioner along with the required proof (death certificate of the deceased, guardianship certificate, succession certificate in case of legal heir, cancelled check, and PF details of last twelve months.

Is form 5A mandatory?

EPF Form 5A is very important for new employees who do not have any experience regarding the employee provident fund scheme. It helps all the new joiners in understanding their benefits or provisions present under the EPF scheme and to keep information about their provident funds on their tips.

What is the meaning of EPF Form 5?

Form 5 pf is a form that provides information about the joining of a new employee in any organization and helps in availing the perks of the EPF scheme.

If an employee joined the establishment on the 28th of April, when should he or she be included in Form 5?

If an employee joined your company on 28th April, then you must submit the details of that employee on or before the 25th of next month. In this example you must fill the form 5 before or on 25th May.

What to do if there is no new employee in the company in the previous month?

Even if there is no new employee in the company in the last month, as an employer you still have to fill Form 5. However, you have to fill ‘Nil’ in the employee details and then submit it to the EPF Commissioner’s office.