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EPF or Employee Provident Fund is a Social Security Scheme offering the benefits of retirement. This scheme is run and managed by the Employee Provident Fund Organization. The Employees’ Provident Funds and Miscellaneous Provisions Act., 1952 makes it mandatory for companies having more than 20 employees to be registered under EPFO.
The employers as well as the employees are required to fill out certain forms to complete the EPF-related formalities like notification, withdrawal, contribution, etc. EPF Form 5 is one such form that has to be submitted by the employer. This guide covers all that you need to know about EPF Form 5, its eligibility, application process, etc.
Form EPF 5 has to be filled by the employers every month to notify the EPFO about the new employees who have joined their organization. Organizations registered under the EPF scheme have to submit the details of their new employees to confirm whether they can or cannot avail of the benefits of the EPF scheme. EPF Form 5 also determines whether a fresher employee can become a beneficiary of the EPF scheme.
Other schemes for employees by the EPFO include the Employees’ Pension Fund and Employees Deposit Linked Investment (EDLI). The EPF scheme is only available to employees with a monthly salary upto Rs.15,000. The employer can use this form to supervise the number of new employees recruited that month.
However, Form EPF 5 is only applicable to those employees who do not have an existing EPF account. You can download this Form EPF 5 from the official website of EPFO in .pdf format. Employers can also print this form and fill in the details.
EPF Form 5 can only be filled by employers. This form has to be submitted every month to notify the EPFO about the details of the new employees. This form must be submitted by the employer even if no new employee has joined during the month. In such a case, the employer can mention ‘NIL’ under the employee details section while filling out the form in the months for which there is no new recruitment.
EPF Form number 5 records the initial information of the new employees. It is a part of the Employees Provident Fund Scheme, 1952, Paragraph 36(2). EPF Form 5 consists of the following sections that the employers have to fill up and submit -
The organization needs to sign and stamp the form and the employers also have to mention the proper date of filing the EPF Form 5.
Employers are required to fill EPF Form 5 every month to inform EPF authorities about new recruitments. The last day for submitting this form containing the details of new employees is the 25th day of the month succeeding the month of employment.
For example, if the company hires an individual who is not enrolled in the EPF on 15th October, then the employer has to submit the EPF Form 5 stating the details of the new employees by 25th November of the same year.
Submitting this form in a timely manner helps ensure that the new employee database remains updated and also ensures that the EPF benefits are extended to the employees.
Employers have to submit EPF Form 5 to the EPF commissioner of the region. There are 135 offices of EPFO (Employees Provident Fund Organization) all over India. Employers can also contact their regional EPF office to notify or inform the EPF commissioner about the new employment in their organizations.
Individuals can rectify the errors in the EPF Form 5 details. The employees can reach out to their employer for name correction in EPF Form 5, among other details.
The employees are required to furnish these documents for rectification of details -
You can follow the below-mentioned steps to apply for rectification in EPF Form 5 -
The employers are required to submit their rectified forms to the local EPFO office. They are also required to apply to the EPFO field offices requesting them to correct the errors.
EPF Form 5 is extremely important for new joiners or those who don’t already have an account with EPFO. This form plays a crucial role in helping these new members avail the benefits provided under the provisions of EPF. The Employees Provident Fund Scheme is a great initiative that helps employees ensure their social welfare and security. It also allows the employers to keep track of the employees and make sure everyone is covered under EPS and the EPF rules and regulations are complied with.
Employers are required to fill up and submit various other EPF forms, apart from Form 5. These forms that should be filled by the employer are listed below -
| Forms Submitted by the Employers | Purpose of Submitting EPF Forms |
|---|---|
| Form 10 | It helps to notify the EPFO when an employee leaves the organization. Form 10 can also be used to withdraw the contributions already made under EPFO towards EPS. |
| Form 3A | It serves as an annual contribution card It is used to keep track of the employer’s monthly contribution towards the EPF account of the employee. |
| Form 12A | It is used to inform the EPFO about the surplus income for the non-profitable trusts that have to be exempted from the income tax. |
Employers have to fill out the above-mentioned forms as and when required to ensure that the employees can avail of the benefits associated with the EPFO membership. Upon filling the EPF Form no. 5, it helps the EPFO to assign a Universal Account Number (UAN) to a member. The UAN stays the same throughout the employment period, but the member identification number changes when a member switches jobs.
Now that you know about the EPF Form 5 and various other aspects related to it if you are a company having more than 20 employees, you should make sure to fill out EPF Form 5 and other relevant forms related to EPF within the stipulated time to avoid penalties and legal proceedings. If you have any queries, you can reach out to experts at Tax2win, who are always here to help you every step of the way. Get Tax Consultancy Now!
Only those companies having an employee count of more than 20 are covered under the EPFO Act and such companies have to fill in and submit the details of all their employees in the EPF Form 5 and submit it to the EPF commissioner’s office.
You don’t need to fill out Form 5. It is the responsibility of the employer to fill and submit EPF Form 5 to the regional office or the commissioner’s office notifying them about the new recruitments and helping them identify the employees who are eligible to be covered under the benefits of EPF Act.
Yes, even if there is no new employee joining the company during the previous month, the employer still has to fill and submit EPF Form 5 to the EPFO. However, in such a case, the employer can mention ‘Nil’ under the employee details section and submit it to the EPF commissioner’s office.
As per the rules and regulations of the EPF Act, the employer has to fill EPF Form 5 within 25 days of the succeeding month in which the recruitment is made. Therefore, if an employee has joined the company on 9th Feb, the deadline to submit EPF Form 5 will be 25th March.
Employers are required to submit the EPF Form 5 at the office of the regional commissioner of EPF by the 25th of the month following the month of the employee’s recruitment.
