Setting up EPF for your Organization
To configure EPF for your organization, navigate to Tax and Statutory Compliances → Statutory Components → Provident Fund and click the Edit icon.
Enter your EPF Number, which can be found in the registration letter received from the Employees’ Provident Fund Organization (EPFO).
Choose whether to include the EDLI, and Admin Charges as part of the employee’s CTC.
You can also select whether to allow overriding the PF contribution rate at the employee level during salary configuration for that specific employee.
For both employer and employee contribution rates, select the appropriate Contribution Type: Restricted Wage Contribution – Limit contributions to ₹15,000 of PF wage and Actual Wage Contribution – Calculate 12% of the actual PF wage.
If you choose to restrict the employer’s contribution calculation to ₹15,000, the system will apply this limit even if the PF wage exceeds that amount.
Additionally, you can enable Arrear PF Calculation to include provident fund contributions on arrears.
Select whether you want to Pro Rate Restricted PF Wage- PF contribution will be pro-rated based on the number of days worked by the employee
Once EPF is set up for your organization, it only needs to be linked when adding a new employee. The system will then automatically deduct PF contributions every month based on the configured rules.
Fig: Provident Fund
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