EPF Form 5 – What It Is, Eligibility, and How To Apply?

What is Employee Provident Fund EPF Form 5?

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.

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Who Should Fill EPF Form 5?

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.

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What Details Should be Filled in EPF Form 5?

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 -

• Company’s Address
• The code number of the company
• Employee’s Name
• Employee’s Account Number
• Name of the Employee’s Father or Husband
• Gender of the Employee
• Date of Birth (DOB) of the Employee
• Employee’s Date of Joining
• Remarks Provided by the Employer
• The name of the Organization/Company

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.

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When are Employers Required to File 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.

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Where is EPF Form 5 Submitted?

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.

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How to Correct the Details in EPF Form 5?

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 -

• PAN Card
• Voter ID Card
• Passport
• Aadhaar Card
• School Certifications
• Driver’s License

You can follow the below-mentioned steps to apply for rectification in EPF Form 5 -

• Download the Rectification Form Print and Online
• Provide the Appropriate Details
• Sign the Form
• Obtain the Signature of the Employee and the Company’s stamp.
• Attach the self-attested copies of all the required documents.

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.

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What are the Criteria to Submit Form 5?

• The employer has to refer to the details mentioned in Form 2 and Form 11 for basic EPF details and nomination while filling up Form 5.
• The details of the new employees who joined in the previous month should be submitted to the EPF commissioner’s office before the 25th day of the month.

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Why is EPF Form 5 Important?

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.

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What Other Forms Should be Filled by the Employer?

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 -

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!

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