EPFO, India has made it mandatory for all companies with at least 10 employees to contribute towards their employees’ retirement savings. So, whether you’re a small business or a multi-national conglomerate, the EPF scheme requires you to contribute towards your employees’ retirement savings. Unlike earlier, however, you no longer have to jump through hoops to make these payment contributions. Instead, you can make use of the EPF online payment facility. Read on to find out how.
First, let’s look at some general requirements for employers with regards to EPF online payment. The EPFO has made it mandatory for all employers to make the EPF payment latest by 15th of every month. There will be no further extension granted. Also, post January 2016, EPF online payment via Challan and TRRN (Temporary Return Reference Number) has been made mandatory by EPFO.
Using the E- Sewa Portal
In order to make the EPF payment online, you must first familiarize yourself with the EPFO E-sewa portal. It is an exceptional tool launched by the EPFO to make EPF services seamless and accessible to all users.
To log in and use the portal, you need to register yourself and generate your Username and Password. The process of registering involves many steps with detailed information required at each step. Therefore, the EPFO has created a detailed instruction manual for the registration process. To access this manual, use the following steps.
- On the E-sewa portal, click on Application for Employer Registration.
- Download the instruction manual.
- The instruction manual provides detailed instructions (with screenshots) for Employer Registration, DSC (Digital Signature) Registration, and Instructions for filling OLRE Application.
- The employer registration process also helps you generate a Username and Password. Keep these handy and complete the DSC registration process. Then, complete the OLRE (Online Registration of Establishments) form for the PF code number. All the instructions are available in the manual that you downloaded in Step 2 above.
After registering, you can log in to the portal with your Username and Password. To make your EPF online payment, first you will need to generate your E-challan and TRRN. With the help of the challan you can make the online payment through the net banking facility of your bank.
EPF Online Payment Procedure
An employer must have a corporate account in one of the listed banks on the E-sewa portal to make the payment online. Normally, if you have an account in SBI, Bank of India, HDFC Bank, Bank of Baroda, etc., then you can easily avail the EPF online payment facility. The net banking facility is used to transfer the payment online from your corporate account to EPFO’s Account.
To make the EPF payment online, you have to visit two different websites. First, access the E-sewa portal to generate the ECR (Electronic Challan cum Return) and TRRN. Then, navigate to your bank’s website at which your corporate account is being maintained.
- Log in to the E-sewa portal with your Username and Password.
- On the home page, under the Payment tab, click on ‘Payment (ECR)’.
- Download your previous month’s ECR in excel format.
- Enter the details in the columns and save the file as a text file (*.txt).
- Upload the text file and click ‘Proceed’.
- In the Payment section, manually enter the following charges: Administrative charges for PF (0.85% of Total EPF Wages – minimum INR 500/-); Administrative charges for EDLI (0.01% of total EDLI wages – minimum INR 200/-).
- Click on Generate Challan. On the same webpage you will find the TRRN.
- Download the acknowledgement slip and Challan receipt.
- Finally, select the ‘Pay’ option, and then select ‘Online’.
- Select your bank from the list of banks available. You will be redirected to the Internet Banking portal of your bank.
You will receive the information of remittance on your mobile phone through SMS. It is advisable to preserve your ECR and TRRN for future reference.
EPF Online Payment E-sewa portal – A boon for Employers
The e-Sewa portal allows employers to make EPF payments to their employees quickly and conveniently. An initiative of the EPFO, the portal serves the larger interests of both the employee and the employer.
Overall, the e-Sewa portal offers several benefits. For instance, in addition to making online payments, you can also generate your annual slip through the portal. If you have provided your mobile phone number, you will receive all the updates through SMS, including payment confirmations and more.
Register on the portal today and explore the various sections to find out how you can use it effectively. Not only will it help you save time, it will also cut down on departmental costs, including logistical expenses.
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