Employee Provident Fund (EPF)

Implementation Updated by Implementation

What is Employee Provident Fund (EPF) ?

EPF is a retirement benefits scheme available to all employees. The main purpose of this scheme is to help employees save a fraction of their salaries every month (12% of Basic Pay + DA), so that they can use it when they retire or need and financial .

Overview :-

In organization most common issue for calculating EPF is wages details of different employees.In zenscale,PF calculation for single level as well as multiple level is done automatically based on the wages detail entered.Auto-generate EPF challans and direct upload even for multiple EPF formats.

In case EPF is applicable for your employees, you can enable the same in Zenscale EPF, so that the system starts calculating EPF for your employees every month.

Use Case :-

Suppose a company name with Abhishek industries private Limited. In this industry, Employees earning Basic (plus DA) Salary of more than Rs. 15,000/month can choose to contribute more towards their PF contribution. Instead of restricting the contribution to be 12% of Rs. 15,000/month, they can choose to contribute 12% of their actual Basic (plus DA). In this case User can set this limits in EPF setting and manage number of employees EPF.

How to Activate EPF setting :- Following below steps to activate EPF setting :-

1. Statutory > Unsubscribe Apps

2. Unsubscribe Apps > PF

3. PF > Subscribe

4. Refresh the page

5. Statutory > PF

6. Activate PF setting

7. PF > Go to Master

8. Select Calculation heads for PF as showing below

9. Input salary limit for EPF

10. Input Employee and employer consideration amount percentage

11. Click on Save

*In EPF setting set by default as per government policies.

Many organisation need challan reports from system generate. So we have format for EPF challan. Follow below steps to generate the challan report :-

1. Statutory > PF challan report

2. PF challan report > Select month and year

3. If user need print of challan then click on Print option other wise Click on download for text file


Text File

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Employee State Insurance (ESI)