Employees’ Provident Fund (EPF) is a 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 employers can perform it anytime and from anywhere. The employers need not have an SBI account to make payment through this channel. However, making payments through the registered SBI account should be preferred. State Bank of India opens the following three types of corporate accounts for employers to facilitate EPF online payments:
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 must follow the below-mentioned steps to generate the Temporary Return Reference Number in order to submit EPF contributions for an employee:
- Visit the EPF official website
- Select ‘For Employers’ option from the drop-down list in the ‘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.
- Acknowledgment 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.
- What is a TRRN number?
TRRN stands for Temporary Return Reference Number used to check the status of PF Challan payment. This number helps you to check your PF Challan payment status and also download it in the PDF format without logging in to the EPF portal.
- Can I pay Challan online in SBI?
Yes, you can pay Challan online in State Bank of India. To pay Challan via internet banking, you must have an account set up with the official website of SBI.
- How can I generate TRRN?
In order to generate TRRN, you must log in to the Employer’s EPF Portal. Under the Services section, go to Online ECR/Challan Submission/OTCP and generate your TRRN.