The Employees Provident Fund (EPF) is a vital social security initiative for retirement benefits, overseen by the Employees Provident Fund Organisation (EPFO). According to the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, companies with 20 or more employees must register with EPFO.
To fulfil EPF-related obligations such as notification, contribution, withdrawal, etc., both employers and employees are required to complete specific forms. Among these, EPF Form 5 is a crucial submission by employers. Let’s delve into the details of this form for a comprehensive understanding.
What is EPF Form 5
EPF Form 5 is a crucial requirement for companies participating in the Employees Provident Fund Scheme. Serving as a monthly report, it plays a vital role in providing insights into the influx of new employees within a company. As career opportunities expand, Form 5 serves as the gateway to acquainting the organisation with fresh talents joining the workforce.
Every new employee entering the workforce is expected to enroll in the EPFO scheme established by their respective company. Form 5 serves as a comprehensive report, listing all newly enrolled employees in the Provident Fund Scheme for a specific month. This monthly overview aids employers in efficiently managing new hires and their associated provident fund obligations.
Referenced in para 36(2) (a) of the Employees’ Provident Funds Scheme of 1952, Form 5 holds significance in the EPF framework.
Key Components of EPF Form 5
- Name of the organisation/company
- Address of the organisation
- Code Number of the organisation
- Account number of the employee
- Name of the employee
- Father’s/Husband’s name
- Date of birth of the employee
- Term/period of previous service/work (as of joining date)
- Date of Joining
The form needs to be accurately signed and stamped by the employer, ensuring the integrity of the provided information.
Importance of EPF Form 5
EPF Form 5 holds a lot of significance for new employees who are embarking on their journey with the employees’ provident fund. This form serves as the gateway for these fresh entrants to access the benefits outlined in the EPF provisions. Without the completion of Form 5, their social welfare and security under EPF would remain incomplete. Additionally, for employers, this form is instrumental in efficiently managing new hires, and ensuring comprehensive coverage under EPF rules.
Due Date
EPF Form 5 demands monthly updates, requiring all new employees to provide the relevant data. It is mandatory to submit this form to the Commissioner’s office before the 25th of the subsequent month. For instance, if Mr. Rao, the head of Integral Communications, hires a new employee in October, he is obligated to submit Form 5 to the authorities before the 25th of November, adhering to the provisions of the Act.
When Do Employers Have to Submit EPF Form 5?
Employers are required to update Form 5 every month to notify EPF authorities of new recruitments. The deadline for submitting this form, containing details of a new employee, is the 25th day of the month following the month of employment.
As an illustrative example, if a company hires an individual with no prior employment or EPF enrollment on 15th October of a particular year, employers must submit EPF Form 5 by 25th November of the same year.
The timely submission of employee details to EPF authorities ensures the continual updating of the new employee database. This practice aids authorities in effectively extending EPF services to beneficiaries.
How to download EPF Form 5?
Employers can easily obtain Form 5 by either downloading it from the official website of EPFO or by clicking on the download link provided below.
Criteria to Submit EPF Form 5
Reference to Previous Forms
The employer must consult the information provided in Form 2 and Form 11, which include nomination and basic EPF details while completing Form 5.
Submission Timeline
Details of new employees who joined in the previous month must be accurately filled out and submitted to the EPF Commissioner’s office before the 25th of the following month. This ensures timely and compliant reporting.
Where is EPF Form 5 Submitted?
Employers are mandated to submit EPF Form 5 to the EPF Commissioner of their respective regions. The Employees Provident Fund Organisation (EPFO) operates 135 offices across India.
To fulfil this requirement, employers should reach out to their regional EPF office, providing the necessary information to notify the EPF Commissioner about new employment within their organisations.
How to Correct Details in EPF Form 5?
To correct details in PF Form 5, employees can follow these steps. Initially, they should reach out to their employer to address any errors, especially regarding names. The rectification process involves providing documents such as PAN Card, Voter ID Card, Aadhaar Card, Passport, Driver’s License, or School Certifications.
To apply for rectification:
- Download the rectification form online, print it, and complete it.
- Sign the form and obtain the employer’s signature along with the company’s stamp.
- Attach self-attested copies of the required documents.
Subsequently, employers are responsible for submitting the rectified forms to their local EPFO office. Additionally, they must apply to EPFO field offices, formally requesting corrections for any identified errors.
Other Forms That You May Need
Employers are required to complete various EPF forms, not limited to Form 5. These include:
| Form | Purpose | Details |
|---|---|---|
| Form 10 | Notification of employee departure from the organisation.
Can be used for EPS withdrawal. |
Keeps EPFO informed about employee exits and facilitates withdrawal of contributions made towards EPS. |
| Form 3A | Annual contribution card tracking employer’s monthly contribution to the employee’s EPF account. | Serves as a comprehensive record of the employer’s monthly contributions, ensuring transparency in EPF transactions. |
| Form 12A | Informs EPFO about surplus income for non-profitable trusts seeking income tax exemption. | Necessary for trusts aiming for exemption from income tax, providing details about surplus income. |
Filling out these forms is crucial to ensure that employees enjoy the full spectrum of benefits associated with EPFO membership. Specifically, PF Form No. 5 plays a pivotal role in facilitating the assignment of a Universal Account Number (UAN) to a member, offering continuity throughout their employment, even as the member identification number changes with job switches.
FAQs
I recently joined a company. Should I fill out and submit Form 5?
As an employee, there's no need for you to fill or submit Form 5; it's the employer's responsibility.
My startup has a few employees. Is it mandatory to submit Form 5?
If your company has more than 20 employees, as an employer, submit Form 5 with employee details to the EPF Commissioner’s office.
What if no new employee joined the company last month?
Even if no new employee joined, fill Form 5 with 'Nil' in the employee details and submit it to the EPF Commissioner’s office.
If an employee joined on the 28th of January, when should I submit Form 5?
Include the employee's details and submit Form 5 by the 25th of February.
I just joined a new company. Do I need to fill and submit Form 5?
No, it's the employer's responsibility to fill and submit Form 5.
Who fills out EPF Form 5?
Employers are responsible for filling out EPF Form 5 for new employees.
An employee joined on 24 January. When should I submit Form 5 for him?
Submit Form 5 for the new employee by the 25th of February.
No new employee joined last month. Do I still need to submit Form 5?
Yes, fill and submit Form 5 with 'Nil' mentioned in the employee details.
I have a startup with a few employees. Should I submit Form 5?
If your employees exceed 20, as an employer, you should submit Form 5 for all.
Where should employers submit EPF Form 5?
Submit EPF Form 5 to the Regional EPF Commissioner by the 25th day of the employee's recruitment month.
Do employers need to submit EPF Form 5 for every new employee?
Yes, employers must submit EPF Form 5 for every new employee.
