Provident Fund Filing:

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The establishment of Provident Funds, a social security system, appeared on the scene as a method to provide financial stability to Provident Fund members once they retire.Employers with more than twenty (20) workers must register their employees for Provident Funds. Both the company and the employee contribute to the Provident Fund regularly.

 

Every year, mandated Provident Funds filing returns, often known as PF Statements, must be filed, and this page examines the procedures connected with this requirement.

 

Provident annual returns:

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Every year, the 25th of April is the deadline for completing and filing the yearly PF Statement reports with the appropriate authorities. This procedure employs two (2) forms. The monthly and annual forms are as follows:

1. Form 3A

2. Form 6A

 

 

FORM 3A

Form 3A, commonly known as the member's annual contribution card, analyses the month-by-month contributions made by the employer and the member to Provident Funds, PF Statements, and Pensions for the relevant year. The government requires that all data for all program participants be evaluated.

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Form 6A

Whereas the 3A form pertains to monthly information, the 6A form is a one-time year-end analysis that provides a comprehensive, detailed PF Statement overview of all contributions made by each organization member.

 

PF Payment Due Date – 15th of the following month in which contribution has been made.

 

PF Return Filing Date – 15th of the following month.

 

The employer is solely responsible for completing, signing, and sealing all proper employee documents as previously described and filing the forms with the Employees Provident Fund Organisation. When the Employees Provident Fund Organisation receives this information, it is checked, and the member states of account are generated, which is then forwarded to the members' employers. The following are included in this PF Statement:

 

1. The combined annual contribution of the employee and the employer.

2. The total amount contributed by the employee and the employer.

3. Earned interest on contributions

4. The initial balance of the contribution, including both the employee's and the employer's interests.

 

TAX BARR will complete all your PF filings to make you enjoy the benefits after getting PF filed.