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The Employees’ Provident Fund is a mandatory retirement savings scheme under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. Both the employee and employer contribute monthly. Omnivoo manages all PF registrations, contributions, and filings.

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How PF Works

Every month, two contributions are made: Both contributions are calculated on Basic Salary + Dearness Allowance (DA), capped at ₹15,000/month for the pension (EPS) portion.

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Where the Money Goes

The employer’s 12% is split between two sub-accounts: The employee’s full 12% goes to the EPF account. Example: Employee with Basic + DA of ₹50,000/month: *Contributions are capped at the ₹15,000 (Basic + DA) ceiling for the statutory minimum. Some companies opt for higher contributions on actual Basic + DA - check your payslip for the exact amount.
EPF currently earns interest at approximately 8.25% per annum (rate set by EPFO annually). This interest is tax-free up to ₹2,50,000 of annual EPF contributions.

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UAN (Universal Account Number)

Every PF member gets a UAN (Universal Account Number), a permanent, portable PF ID:
  • New employees: If you do not have a UAN, Omnivoo creates one during onboarding.
  • Existing UAN: If you already have a UAN from a previous employer, provide it during onboarding. Omnivoo transfers your PF account under the same UAN.
  • EPFO member portal: Track your PF balance at unifiedportal-mem.epfindia.gov.in.
Always keep your UAN linked to your Aadhaar and bank account. This makes PF withdrawal and transfer faster when you change jobs.

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ECR Filing

Omnivoo files the Electronic Challan cum Return (ECR) with EPFO every month:
  1. By the 15th of each month, Omnivoo deposits PF contributions for the previous month.
  2. The ECR includes employee-wise contribution details.
  3. EPFO processes the ECR and credits individual PF accounts.
  4. Employees can verify credits on the EPFO member portal within 3-5 business days.

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PF Withdrawal

You can withdraw PF in these situations:
Withdrawing PF before 5 years of continuous service makes the employer’s contribution taxable. The interest earned also becomes taxable. It is generally better to transfer PF when changing jobs rather than withdrawing.

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PF Transfer When Joining Omnivoo

If you had a PF account with a previous employer:
  1. Provide your existing UAN during onboarding.
  2. Omnivoo initiates a PF transfer request online.
  3. Your previous employer approves the transfer.
  4. The balance is transferred to your new PF member ID under the same UAN.
  5. Transfer typically takes 15-30 days.

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For Employers: PF Compliance

Omnivoo handles all PF compliance:
  • Monthly ECR filing and contribution deposit
  • Annual PF returns
  • UAN generation and management
  • Transfer requests for new joiners
  • PF settlement for exiting employees
Employers do not need to interact with EPFO directly. All PF costs are included in the employee’s CTC.