EPF eligibility for small establishments: Small companies are generally not covered by the EPF, so those working there don't receive the benefits of retirement savings. But now, there's some relief for employees of such companies. Even if your company has fewer than 20 employees (EPF applicability below 20 employees), you can join the EPF. Now, the question is: how? And what are the rules that allow employees of small companies to join the EPF?

Actually, this provision falls under Section 1(4) of the law, known as voluntary coverage. This means that whether the company is small or large, if both the employee and employer agree, the organization can join the EPF. This change will allow millions of employees to build a secure retirement fund.

Employees can take the initiative themselves.
Employees can also take the initiative to join the EPF. If most of the company's employees want to join the EPF, and the employer is also willing, the organization can apply to the EPFO. Upon approval, all employees receive a PF number. This decision will especially benefit those working in small factories, warehouses, service centers, shops, agencies, travel companies, or offices with 10-15 staff. Now, they too will be able to avail of EPF benefits like larger companies.

What are the benefits of joining EPF?
Joining EPF has many advantages. A small monthly deduction from your salary translates into significant savings for your future. The company also contributes an equal amount. Interest is also earned on the EPF account. PF carries over if you change jobs. The facility to check your PF balance and passbook online is already available.

Many employees hesitate to change jobs due to a lack of PF access or, sometimes, a lack of retirement savings. Voluntary coverage eliminates this problem. Now, even employees in small companies can plan for a secure future.

According to the EPFO, voluntary coverage requires the company to apply by filling out a form. The process is simple and can be completed online. Once approved, contributions begin immediately. Overall, this initiative will provide strong financial security to millions of employees working in small companies.

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