GoodBooks ERP allows you to comprehensively store data regarding the Provident Fund (PF) of an employee.

These days in many of the companies, industries, organizations, MNC’s Provident fund is playing a major role in the form of saving their salary for future purposes. The PF has a strong acceptance ratio among many professionals. From a new employee to a retiring executive, PF is welcomed. Even Though it falls under a category of choice, whether to opt for it or not, it has unique benefits in many ways.

PF number – Provident fund is an essential part of the employer and employee contribution to the present and the future well-being of the employee. As said PF generation is the responsibility of the Employer, this is a monthly contribution from the basic salary, and contribution the employee allocates for the nominees represented.

PF: Click the PF tab and enter the required details. 

• PF Applicable?: Select from the picklist.
  • YES: Select yes if the employee is applicable for PF.
  • NO: Select no if the employee is not applicable for PF amount.

• Status: Select the status from the three given options. This is the current membership status of the employee with respect to PF.

• PF Number: Enter the PF number of the employee. The unique provident fund number of the employee should be typed in this field.

• Date of PF Join: This field should contain the date when the employee joined the PF scheme.

• Statutory %: The statutory % is the official PF statutory to be collected. Enter the value in percentage.
• Date of PF End: This field should contain the date when the employee ended the PF scheme.
  
• Employee Actual %: Enter the percentage of employee contribution to the PF amount. Employee actual % is the actual value collected from the employee’s salary for PF by your organization.

• Reason: Enter the reason for leaving the company.

• Employer Actual %: Enter the percentage of employer contribution to the PF amount. Employer actual % is the actual value collected from the organization for PF. This should be in percentage.

• PF UAN Number: Enter the PF UAN number of the employee.

• Family Pension: Family pension is an optional field where an employee may have to opt for pension. If so, there is a field for entering the number and the percentage allocated for pension. In the case of retirement, death, or disability during the service, the employee can opt for this contribution. The employee has to mention the %.