<p>An online registration facility to allot Provident Fund (PF) code numbers to employers was launched by Labour and Employment Minister Narendra Singh Tomar on Monday.<br /><br /></p>.<p>The facility will cut down on the time companies spend on getting code numbers. The manual system takes at least 20 days after the submission of an application in the PF office. <br /><br />Companies can register online through a link provided on the organisation’s website. On successful completion of the registration process, the PF code number is allotted online within a day, after verification of the PAN number entered by the applicant. <br /><br />Tomar launched the facility, which can be used by establishments in New Delhi. “This is also expected to address the criticism that establishments face many hurdles and bureaucratic delays in starting their businesses in the country. <br /><br />This initiative would help in establishing a business-friendly and pro-compliance environment,” he said. He also assured that within two weeks, the government would take a decision on the proposal to provide minimum monthly pension entitlement of Rs 1,000 under the Employees’ Pension Scheme, 1995 and enhance the wage ceiling for PF deductions to Rs 15,000 a month from the existing Rs 6,500.</p>
<p>An online registration facility to allot Provident Fund (PF) code numbers to employers was launched by Labour and Employment Minister Narendra Singh Tomar on Monday.<br /><br /></p>.<p>The facility will cut down on the time companies spend on getting code numbers. The manual system takes at least 20 days after the submission of an application in the PF office. <br /><br />Companies can register online through a link provided on the organisation’s website. On successful completion of the registration process, the PF code number is allotted online within a day, after verification of the PAN number entered by the applicant. <br /><br />Tomar launched the facility, which can be used by establishments in New Delhi. “This is also expected to address the criticism that establishments face many hurdles and bureaucratic delays in starting their businesses in the country. <br /><br />This initiative would help in establishing a business-friendly and pro-compliance environment,” he said. He also assured that within two weeks, the government would take a decision on the proposal to provide minimum monthly pension entitlement of Rs 1,000 under the Employees’ Pension Scheme, 1995 and enhance the wage ceiling for PF deductions to Rs 15,000 a month from the existing Rs 6,500.</p>
