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Services : Provident Fund & UAN

Accounting, Administration, Employee Help Desk, Mobile App, Online Portal for PF, Gratuity, Superannuation funds. Services delivered Pan-India

  1. PROVIDENT FUND – RPFC – SCOPE OF WORK
    • Administration
      • Database maintenance and management, PF numbers and UAN allocation post verification of details
      • Processing of settlement, loans, Nomination, transfer claims. Submission with RPFC and scanned acknowledgements to be shared with Novartis and employee to their email IDs.
      • Document management (Detail list of document to be maintained will be provided by Novartis)
      • PF Applications trackers to be shared with Novartis on a weekly basis.
      • Liasoning with PF authorities: Follow-up with PF office for submitted claims through personal weekly visit/ reminder letters for specific cases upon Novartis’s request
      • Employee query management through Email and voice support
      • PF Management automation to establish control and visibility of the process
      • Online portal access to employee and employer to view balance and application status
      • Online portal should have RPFC website link for status verification if needed
      • All types of application including nomination to be submitted by employee through vendor online portal
      • Data exchange facility with access control
      • Reminders to ex-employee to initiate transfer or withdrawal
    • Regulatory Compliance
      • Legal Opinion
      • Preparation and remittance of challan per statute
      • Preparation and filing of statutory returns
      • Compliance tracker to be shared with Novartis on a periodic basis.
      • Coordinating statutory inspections/ notices / Hearings on issues generated after taking operational responsibility
      • Coverage of International workers would be as per legal requirement
      • MIS: Summary of transactions on a monthly basis
      • Data archival and retrieval as per Novartis policy
      • Periodic SSAE 16 – Type II report (Inclusive of BCP and DR plans)
  2. PROVIDENT FUND – EXEMPT – SCOPE OF WORK
    • Administration
      • Database maintenance and management, PF numbers and UAN allocation post verification of details
      • Processing of PF settlement, loans, and transfer claims and submission of EPS transfers/EPS claims and Nominations with RPFC and scanned acknowledgements to be shared with Novartis and employee to their email IDs.
      • Document management (Detail list of document to be prepared will be provided by Novartis)
      • Liasoning with government authorities
      • Application trackers to be shared with Novartis on a weekly basis
      • Follow-up for transfer ins (through personal / reminder letters for specific cases upon Novartis’s request)
      • Employee query management through Email, and voice support
      • PF Trust Management automation to establish control and visibility of the process
      • Online portal access to employee and employer to view balance and application status
      • All types of application including nomination to be submitted by employee through online portal
      • Data exchange facility with access control
      • Audits
      • Reminders to ex-employee to initiate transfer or withdrawal
      • Coverage of International workers and expats would be as per legal requirements
    • Accounting
      • Maintenance of employee sub ledgers
      • Accounting of transactions
      • Maintenance of standard voucher/receipt
      • Updating bank book on a daily basis.
      • Monthly BRS
      • Providing cash flow on a monthly basis
      • Final accounts – trial balance, balance sheet, P&L and schedules
      • Coordination with auditors for audits
      • Data to be provided for actuarial valuation as and when required
    • Recordkeeping
      • Maintaining back-up documents
      • Coordinating banking in reference to trust accounts
    • Taxation
      • Deducting TDS as per statute and payment of the same as per due date
      • Generation of Form 16 and Form 24Q per statute for the applicable year as per due date
    • Regulatory Compliance
      • Advise to Novartis on the amount due to trust / RPFC on a monthly basis
      • Preparation and submission of monthly challans with RPFC
      • Preparation and filing of statutory returns.
      • Preparation and filing of statutory returns with IT and follow-up for refund, if any
      • Documentation support for addition/deletion of trustees
      • Coordinating and recording minutes of the trustee meeting and closure of the open items recorded in the meeting.
      • Attending/coordinating statutory inspections/ notices for closure
      • Coverage of International workers and expats would be as per legal requirement
    • Investments
      • Monthly advise to the trustees on the investment options available and recommend investment in a specific security based on yield, exposure, reinvestment risk etc.
      • Update investment register/special Deposit
      • Capture interest receipts, deliveries, receipts etc.
      • Cash flow analysis once a month to work out the investible surplus
      • Monthly MIS
      • Query handling from senior managers/Trustees on administration of Trust.
    • Investments – Back Office
      • Tracking of interest due on investments / redemptions and follow-up for the same incase of delays
      • Submit income tax recognition certificates to the issuers for avoidance of tax on interest
      • Reconciliation of the portfolio with SGL / Demat / custodian statement on a periodical basis
      • Execution of investment deal after the trustees’ approval
    • Reports
      • Bank Reconciliation Statement on a monthly basis
      • Weekly report on status of applications
      • Monthly MIS capturing details of settlements, interest receipts, investments – purchased & matured
      • Data archival and retrieval as per Novartis policy
      • Periodic SSAE 16 – Type II report (Inclusive of BCP and DR plans)
Provident Fund
Collection of PF Declaration forms (New joiners) Updation of EXITS on PF Portals Drafting any reply to EPFO queries/show cause notice including prior period
UAN enrollment of new joiners Enrolling for PM Rojgar Yojana benefit Nominations
KYC Seeding with UAN for all the New Joiners Submission of PF & EPS Transfers (In & Out) with RPFC Office Updation of missing KYC & Employee Details on PF Portal
Updated Form-9 to be shared after incorporating all new joiners Submission of Partial / Final PF Withdrawals, loan cases with RPFC Office, availing Scheme Certificate for Pension Linking of multiple UANs with current UAN
Compilation and generation of ECR and advice for payments Reconcile and distribute the annual PF statement to the members PF, Pension & EDLI Claims – Death Cases
Submission of International workers (IW) returns Support in submission of Form 5A (physical and online) End-to-End Handling of Inspection / Demand Notices and reply of summons (including prior period)