SBI Online EPF payment & Also EPF Payment with Other Banks

SBI online EPF payment and also EPF payment other than SBI mentioned here in this page. A complete step by step guide to make EPF Payment online. Make sure you follow the steps properly without any mistake so that there are no discrepancies.

Continue reading to learn more about the EPF Payment online. You may also view our pages on EPF related topics below in the box.

EPF EPFOEPF BalanceEPF Claim
EPF WithdrawalForm 11 EPFEPF Withdrawal Form 31EPF E Passbook
What is UAN?EPF PaymentUmang AppEPF Passbook Download
EPF Form 2SBI EPFSBI PPF AccountDownload and Print UAN Card

How Do I Pay My EPF Through SBI Online?

Employees Provident Fund, or EPF, is the safest and easiest way to save, and it may even be converted into an Employees Pension Scheme. The Ministry of Labour and its EPFO division are in charge of it. It only applies to businesses or foundations with more than 20 paid staff. It is not only a cost-cutting technique for both employees and employers, but it also falls within the jurisdiction of the Labour Ministry.

Despite the fact that both parties have committed to putting 12 percent of a person’s salary into a PF account, and the government pays interest on the money deposited on an annual basis. The company owner’s only responsibility is to make the required payments on time, since it is his obligation as a result of his enrollment in the EPFO division. Since September 2015, a company has been able to and should conduct all PF exchanges electronically.

EPF payment online
EPF payment online

Employees can pay their online installments through the EPFO website or through one of the ten institutions with whom EPFO has partnered, such as SBI, PNB, Union Bank of India, and ICICI Bank. According to popular belief, SBI is the most easy way to make an online EPF Challan payment. The best part is that you may do it from any location and at any time, even if you don’t have an SBI account. Nonetheless, record holders prefer to make EPF online installments through SBI since it is more convenient to shift assets from a comparable bank.

For the convenience of employers paying through SBI online, the State Bank of India offers three types of business accounts.

• Retail.\s

• Saral.

• Corporate.

The online payment of EPF Challan through SBI may be divided into two kinds. The Temporary Return Reference Number, or TRRN, must be created by the initial employer. The second employer must make an EPF payment to the State Bank of India online using the TRRN.

1st Step for SBI online EPF payment

The first step in making an online EPF payment with SBI is to create an account.

As previously indicated, you must first generate the TRRN before making an online payment through SBI (Temporary Return Reference Number). This won’t take more than 5 minutes of your time. Making an employee’s EPF payment is a simple four-step process.

Step 1: Go to the official EPF website.

Step 2- In the ‘Our Services’ page, choose ‘For Employers’ from the drop-down menu.

Step 3- In the ‘Services’ area, select the ‘Online ECR/Challan Submission/OTCP’ option.

Step 4- Then, using the SBI official website, create your own Temporary Return Reference Number (TRRN) for making online EPF Challan payments.

Please keep in mind that each bank with whom EPFO is affiliated has its own online procedures and possibilities. It is solely dependent on the structure of the bank’s net banking and official website. It is not necessary to hold an account with any bank in order to make a payment. It is ideal for the customer’s convenience. The primary purpose for paying EPFO through a bank is to reduce time and simplify the procedure for companies. If you use a good software or application for workers, you can easily make an EPFO payment since it will take you directly to your bank page and perform all required calculations for you instantly, allowing you to make the payment in one click.

2nd Step for SBI online EPF payment

The steps to make an EPF online payment through SBI are outlined below. To make EPF online payment through SBI as a company owner or employer, you must carefully follow these steps:

Step 1: Go to the Employers’ Unified Portal.

Step 2- Go to the ‘Establishment sign in’ page and log in with the username and password you created when you originally signed up.

Step 3- Then, from the ‘Payment’ drop-down box, choose “Payment (ECR).”

Step 4- Go to the Pending TRRN Challan and double-check all of your information in the list below. To make an online payment, click “Pay.”

Step 5- You can download the “file and receipt file” acknowledgment while making a payment at the same time.

Step 6- From the drop-down list of banks, select “SBI” and click “Continue” to complete the payment.

Step 7- After that, you’ll be sent to SBI’s online banking website.

Step 8: Log in to your SBI business account using your SBI online banking credentials (username and password) and finish the EPFO online payment.

Related:

EPF Claim Status Shows Payment Under Process

EPF Withdrawal (EPFO) Online Process Guide              

How to Check EPF Balance Online-Without a UAN number or a Mobile number

EPF Withdrawal Form 31| 2022 Complete Guide & Download               

Form 11 EPF New Revised 2022 | Download PDF & Word Format for Online Submission

Online payment of EPF.

The processes to make an EPF payment online through the EPF website are outlined below.

• Go to the EPF’s website to learn more (www.epfindia.com).

• From the drop-down option, choose ‘Online ECR/challan submission.’.

• Produce the TRRN (Temporary Return Reference Number).

EPF Payment Online other than SBI

Steps for making an EPF payment online with other bank other SBI.

Step 1: Log in to the EPFO online portal with your Electronic Challan Cumulative Return (ECR) credentials. You must verify that the information shown about your establishment, such as the establishment ID, name, address, exemption status, and so on, is true.

Step 2: From the Payments option dropdown, select ECR upload.

Step 3: Select a ‘Wage Month,’ ‘Salary Disbursement Date,’ and contribution rate before uploading the ECR text file.

The uploaded ECR file will be evaluated for predetermined conditions, and the message ‘File Validation Successful’ will show on the screen. An error will appear on the screen if the ECR file is not verified. Correct the ECR text file for the requested format and re-upload it until it is verified successfully.

Step 4: The created TRRN for the uploaded ECR file will be presented on the same page. Then press the ‘Verify’ button.

Step-5: To produce an ECR summary sheet, select the ‘Prepare Challan’ option.

Step 6: Enter the Admin/Inspection Charges and press the ‘Generate Challan’ button.

Step 7: After validating the challan amount, click on the ‘Finalize’ option.

Step 8: Finally, choose Pay against the applicable TRRN from the drop-down menu.

Step 9: Before clicking the ‘continue’ button, choose ‘online’ as the payment method, then choose any of the banks from the drop-down option.

Step 10: This step will lead you to your bank’s internet banking login page, where you must log in and make a net banking payment.

When your payment is successful, a payment / transaction-id will be created, as well as an e-Receipt for transaction confirmation. The EPFO Portal will be updated with epf challan payment receipt.

The EPFO will offer confirmation of payment against the TRRN number.

TRRN Full Form

TRRN means ‘Temporary Return Reference Number’ that required to find the status of PF Challan payment.

An Employees Provident Fund’s EPF) Objectives

  • The Employees Provident Fund can also assist a business accomplish a variety of objectives. Unlike the public sector, the private sector joins this plan on their own initiative and registers with the Ministry of Labour.
  • As an employer, you must deal with a variety of employee advantages that may be perks of job satisfaction, one of which is dealing with the retirement and pension plan since it enhances the employer’s and business’s reputation. The government’s EPF Fund is the most convenient solution to deal with these problems.
  • Everyone wants money in their savings account, but not everyone can save it effectively for a long period. The concept of putting money into the government, where your employer also contributes and you are interested in the quantity placed. It encourages employees to be dedicated to their jobs, which helps the business.
  • The Employer Provident Fund can give significant benefits to both parties and assist them in taking use of it.
  • The employer might take advantage of this chance to obtain many government incentives, such as a tax rebate. Employers can utilize this service as one of the criteria for applying for a variety of government programs.
  • We all know that the major goal of the Employer’s Provident Fund is to secure a tax rebate for both parties while also accumulating money for retirement and other objectives such as wedding expenditures, home development, or education.

Conclusion

  • Despite the fact that the Ministry of Labour and EPFO department launched its online portal many years ago and that many small and large enterprises have used it since then, the full value is only understood by individuals in the COVID-19 outbreak situation. Due to the shutdown and lack of finances and savings, an increasing number of individuals, including employers and workers, are using the online EPF site.
  • For ease and quick results, people are turning to online portals and payroll software like HrXpert. This software aids and alters the workplace’s process. You may not only make a payment using SBI online, but you can also effortlessly withdraw funds from our EPF account.

Often Asked questions on EPF payment

Q) What is a TRRN number, exactly?

Ans: The Temporary Return Reference Number (TRRN) is used to verify the status of PF Challan payments. This number allows you to check the status of your PF Challan payment and download it in PDF format without having to enter into the EPF system.

Q) Can I pay my SBI Challan online?

Ans: Yes, you may pay your State Bank of India Challan online. To pay a Challan using internet banking, you must first create an account on SBI’s official website.

Q) What is the best way to create TRRN?

Ans: You must first log in to the Employer’s EPF Portal in order to generate TRRN. Go to Online ECR/Challan Submission/OTCP under the Services section and generate your TRRN.

Q) How can I make an online EPF payment?

Ans: EPF online payments can be done through EPFO’s official website or directly through your bank’s permitted net banking accounts. EPFO currently has agreements with ten banks, including SBI, PNB, Indian Bank, Allahabad Bank, Union Bank of India, and others.

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