EPF Form 5 is an integral component for companies registered under the Employees Provident Fund Scheme. It is basically a monthly report offering insight about new employees in a particular organization. The availability of better job opportunities creates scope for new and fresher minds to join work and form 5 is designed to know them.
Components of Form 5
The basic elements of Form 5 are mentioned below.
- Name of organization/company
- Address of organization
- Code Number of organization
- Account number of employee
- Name of employee
- Father’s/Husband’s name
- Date of birth of the employee
- Date of joining
- Term/period of previous service/work (as on joining date)
The form should be signed and stamped by the employer along with the date of filing said form.
Importance of Form 5
EPF Form 5 is extremely important for new joiners who haven’t had previous experience with the employees’ provident fund. It is through this form that such new members can avail of the benefits offered under the provisions of EPF, without which their social welfare and security would be incomplete. It also helps employers keep track of new employees and ensure that everyone is covered under EPF rules.
Due Date
EPF Form 5 needs to be updated every month, with all new joiners expected to fill up the relevant data. This form should be submitted to the Commissioner’s office before the 25th of the next month. For example, Mr. Rao, the boss of Integral Communications hires a new employee in the month of October. He is expected to furnish Form 5 to the authorities before 25th November, as per the provisions of the Act.
