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what is the realtime work and process on provident fund(pf) as
accountant?
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Answer Posted / sita ram
On Joining service every employees having wages/Salry up to Rs 6500/ P Month be enrolled as PF member by alloting him PF number. At the time of making payment or crediting salary voucher E P F @ 12% of his salary Up to 6500/- is to be deducted from his pay. Before 15th of the succedding Month The PF amount deducted ( employees share plus Equil amount as employeer share along with P F and D L I charges is to be uploaded in TXT file on EPF portal to generate ECR file and Challan. The so generated challan having unique TRN number is to be presented to S B I for payment.
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