Employees’ Provident Fund(EPF) is a long term savings scheme in which both of the employee and the employer contribute a part of the employee’s salary to build a substantial retirement corpus for the employee. The employees’ contribution is deducted from the salary whereas the employer has to make the payment either by visiting one of the SBI branches and submitting the online challan or the contribution is done directly by making the payment online.
EPF online payment through State Bank Of India is one of the easiest ways to make the EPF contributions and the employer can make it from anywhere and at any time. To make the contributions it is not necessary to have an SBI account. Though payments through the registered SBI account is preferred. There are three types of Corporate accounts opened by SBI for employers to facilitate EPF online payments:
- Saral and
EPF online payment through SBI is a two part process. The employer has to generate a Temporary Return Reference Number( TRRN ) in the first step and has to make the payment against this TRRN in the second step.
How to generate this Temporary Return Reference Number (TRRN)
Here are the steps that should be followed by the employer to generate the Temporary Return Reference Number (TRRN) to submit EPF Contributions for an employee:
- Visit the EPF website
- Select “For employers “ option from the drop down list in “our services” section
- Select the “Online ECR/ challan submission/ OTCP” option in the “services” section.
- Now generate a Temporary Return Reference Number(TRRN) for making EPF online payment through SBI
How to make EPF payment online through SBI
As an employer, you have to follow these steps to make EPF online payments through SBI:
- Visit unified portals for employers
- Login to the account either using the “Employer username” and password or “Establishment” credentials.
- Select the “payment(ECR)” option from the “payment” drop down menu
- Select the pending TRRN challan and verify the details in the list. Click on “pay” to make a payment online.
- Acknowledgement file and receipt file can be downloaded at the time of making the payment.
- Select SBI from the list of banks and click on continue.
- You will be redirected to SBI’s internet banking page
- Login to the account using your netbanking credentials and make the payment online.