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What is PF Registration? |
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PF Registration involves enrolling employees in the Provident Fund scheme for retirement benefits. |
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Is PF Registration mandatory for all businesses? |
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Yes, for businesses with 20 or more employees, it is a legal requirement. |
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Can employees contribute more than the statutory rate? |
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Yes, employees can opt to contribute more than the mandatory 12%. |
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How does PF Registration benefit employees? |
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It provides financial security for retirement and allows for tax benefits. |
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What if an employer fails to register for PF? |
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The employer may face legal penalties and employees may lose out on retirement benefits. |