Retirement Benefits / PF Outsourcing

1) Unexempted PF (Statutory PF Services)

• Online Web Services (Available as SaaS model www.pfoutsource.com)
• Online Balance check for each employee(monthly update)
• Prefilled withdrawal forms download(Form 19,Form 10C,Form 10D)
• Prefilled nomination forms download(Form 2)
• Online Claim status check( withdrawal forms status and when same will be cleared)
• End to end document tracking (from various location till claim is cleared)

2) Exempted/Excluded PF Trust Services (Trustees PF)

• Administration
• Transaction processing Processing settlement/loans/transfers application
• 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 Coordinating audits – Recordkeeping Maintaining back-up documents(Softcopy) until for 3 years after the audit
• Coordinating banking in reference to trust accounts
• Taxation Deducting TDS as per statute Generation of Form 16 and Form 24Q per statute for the applicable quarter/year (excludes forms/returns preparation beyond 3 months post statutory date)

• Administration & Compliance
• Employee master data update
• PF/EPS number allotment
• Monthly Challan and return preparation and submission(Form 5,Form 10,Form 12A)
• Yearly return preparation and submission(Form 3A, Form 6A, reconciliation statement)
• Nomination forms submission
• Claims checking and submission to PF office
• Follow up with PF office regarding claims status
• Preparation of claim MIS
• Updation of member data on web
• Coordinating statutory inspections/ notices on issues generated after taking operational responsibility
• Coverage of International workers and experts would be as per Client directions
• Data submission to PF office in desire format (csv,dbf etc..)

• Client Servicing – Operating Level
• Turnaround time for transactions – within 96 hours from receipt of complete applications
• Challans / returns within 96 hours from receipt of complete data
• E-mail response: 100% within 48 working hours
• Hard Copy Individual statements after audit by 30th June of every year
• Completion of audit by 30th June of every year
• Help Desk once a week at Client premises. This person should ensure operational support +filing of documents at Client office. Maintenance of the PF files at the Client end will be the responsibility of the Help Desk staff
• Once a month meeting with Client HR with the Relationship Manager
• Migration deliverables
• Web access to employees for balances of provident fund
• Phone support for querying

• ESIC
• Monthly ESI Challan
• Form No. 5( Half-yearly Return)
• Yearly return(Form 6)
• Form 1 (1A) or Form 1 (1B) and Form 1(A) or Form 2 in case of new joinee
• Obtaining Permanent Identity Card (PIC) from the ESI Branch office
• Correspondence/Liaison with ESI Department
• Information with regard to any amendment/changes

• Reports
• Bank Reconciliation Statement on a monthly basis
• Weekly report on status of applications
• Monthly MIS capturing details of settlements
• Cash flows of the Trust Bank account for investments input twice a month

• PROFESSIONAL TAX
• Monthly Professional Tax Challan Submission.(Prepared by client payroll)
• Annual Professional Tax Return preparation
• Consultation on matter as and when required

• Regulatory Compliance
• Advise 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 (form 10C,10D will be submitted and for other places same will be provided in softcopy)
• Coordinating and recording minutes of the meeting

• LABOUR WELFARE FUND
• Half yearly return Submission (Prepared by Client Payroll)
• Liasioning with office as and when required
• Consultation on matter as and when required