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