Employees’ Provident Fund (EPF) is long term savings scheme in which both the employer and the employee contribute a part of the employee’s salary to build a substantial retirement corpus for the employee. The employee’s contribution is deducted from the salary whereas the employer has to make the payment either online or by visiting one of the SBI’s branches and submitting the challan online.
EPF Online payment through SBI is one of the easiest ways to make EPF contributions and the employer can perform it anytime and from anywhere. The employer need not have an SBI account to make payment through this channel. However, making payments through the registered SBI account should be preferred. SBI open the following three types of corporate accounts 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 TRRN (Temporary Return Reference Number) in the first step and make payment against the TRRN in the second step.
How to Generate Temporary Return Reference Number (TRRN)
The employer has to follow the below-mentioned steps to generate the Temporary Return Reference Number 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 Online Payment through SBI
As an employer, you have to follow these steps to make EPF online payments through SBI:
- Visit Unified Portal 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 the 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.