_ Services > Provident Fund & UAN

Provident Fund & UAN
Our Provident Fund compliance checklist includes PF registrations, UAN compliance, PF transfers, PF advances, e-Nominations, and PF withdrawals/settlements. Our dedicated employee help desk services for EPF members have been commended by leading corporations. We also handle the statutory compliance for the Employees’ Provident Fund.
Provident Fund - RPCF - 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 acknowledgments to be shared with Client and employee to their email IDs.

Document management (Detail list of documents to be maintained will be provided by Client)

PF Applications trackers to be shared with the Client every week.

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

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 applications including nomination to be submitted by the employee through the 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 the Client periodically.

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 every month

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 acknowledgments to be shared with Client and employee to their email IDs.

Document management (Detail list of documents to be prepared will be provided by Client)

Liasoning with government authorities

Application trackers to be shared with the Client every week

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 applications including nomination to be submitted by the employee through an online portal

Data exchange facility with access control

Audits

Reminders to ex-employee to initiate transfer or withdrawal

Coverage of International workers and ex-pats would be as per legal requirements
Accounting

Maintenance of employee sub-ledgers

Accounting of transactions

Maintenance of standard voucher/receipt

Updating bank books daily.

Monthly BRS

Providing cash flow every month

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 about 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

Advice to Client on the amount due to trust / RPFC every month

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 ex-pats would be as per legal requirement
Investments

Monthly advice to the trustees on the investment options available and recommend investment in 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 the administration of Trust.
Investments – Back Office

Tracking of interest due on investments/redemptions and follow-up for the same in case of delays

Submit income tax recognition certificates to the issuers for the 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 monthly

Weekly report on the 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)