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 Client and employee to their email IDs.
     • Document management (Detail list of document to be maintained will be provided by Client)
     • PF Applications trackers to be shared with Client 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 Client’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 Client 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 Client 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 Client and employee to their email IDs.
     • Document management (Detail list of document to be prepared will be provided by Client)
     • Liasoning with government authorities
     • Application trackers to be shared with Client on a weekly basis
     • Follow-up for transfer ins (through personal / reminder letters for specific cases upon Client’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 Client 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 Client policy
     • Periodic SSAE 16 – Type II report (Inclusive of BCP and DR plans)