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PROVIDENT FUND – FILING MONTHLY & ANNUAL RETURNS – FORMS 3A & 6A | Company Vakil

PROVIDENT FUND – FILING MONTHLY & ANNUAL RETURNS – FORMS 3A & 6A

The introduction of Provident Funds, a social security system, arrived on the scene as a way to add financial security for Provident Fund members after they have retired. Something like a kind of safety net. For employers, with more than twenty (20) employees, it is a legal requirement that they register all staff for Provident Funds. On a monthly basis, both the employer and the employee make Provident Fund contributions. For the employee, Provident Fund contributions can only be accessed after they have retired. Although there have been a few exceptions. Each year mandatory Provident Funds filing returns, PF Statement, have to be completed and in this article, we look at the procedures involved with this mandatory requirement.

PROVIDENT ANNUAL RETURNS – THE FORMS

Every year the 30th of April is the deadline date, when all annual, PF Statement, returns need to be completed and filed with the relevant authorities. There are two (2) forms used for this process. The monthly form and the annual form:

• 1. Form 3A
• 2. Form 6A

FORM 3A

Form 3A, which is also known as member’s annual contribution card, analyses month by month contributions that have been by the employer and the member for the relevant year towards Provident Funds, PF Statement, and Pensions. It is a Government requirement that all data is assessed for all members of the scheme. Included with this data analysis, PF Statement is the following:

• 1. The Members subscriber name.
• 2. The Members account number
• 3. The Members voluntary contribution rates if any are applicable.
• 4. The Members statutory rate of contribution.
• 5. The Members father or husband name.
• 6. The Members name and address of the factory/establishment where they work.
• 7. The form must be signed by the responsible person where the member is employed and sealed by the employer.

FORM 6A

Whereas the 3A form relates to monthly details the 6A form is a one-time year-end analysis that includes a complete detailed PF Statement summary of all contributions made by each member of the organization. Included with this data analysis is the following:

• 1. The Members subscriber name.
• 2. The Members account number.
• 3. The Members contributions deducted from their salary.
• 4. The Members voluntary higher contribution rate if applicable.
• 5. The Members refunds of advances if any are applicable.
• 6. The employers EPF and pension contribution for the members.
• 7. The Members salary, retaining allowance if applicable, and D.A. Plus the food value allowances permitted during the calendar year.
• 8. Any remarks relevant to the member.

Additional data, related to the remitted amounts, also need to be included in the forms relevant columns:

• 1. Contributions to EDLI.
• 2. Contributions remitted with details of any refunded advances.
• 3. Charges for administration.
• 4. Aggregate contributions.
• 5. Pension Fund contributions.

PROVIDENT MEMBERS STATEMENT OF ACCOUNTS

The employer has full responsibility for completing, signing, sealing all the employee correct forms as detailed previously, and filing the forms with the Employees Provident Fund Organisation. When this information is received by the Employees Provident Fund Organisation it is verified and the member statement of account is prepared which is sent to the members’ employer. This PF Statement includes the following:

• 1. The annual contribution of both the employee and employer.
• 2. The total number of contributions made by both the employee and the employer.
• 3. Contributions interest earned.
• 4. The contribution opening balance with interest of both the employee and employer included.

That concludes the Provident Fund monthly and annual returns report. If you have any questions, or if anything is not clear please contact, COMPANY VAKIL.

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