How often should I conduct an EPF audit?
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Ideally annually, or when there is a change in management, after a merger, or when you anticipate an EPFO inspection. Regular audits help catch issues early.
What is the scope of an EPF audit?
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It includes employee coverage, contribution calculation (wages, rates), timely filing of ECR, payment of dues, KYC compliance, and maintenance of statutory records.
What if the audit finds underpayment of contributions?
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We help you compute the shortfall, file revised returns, and make additional payments with interest. Voluntary correction can reduce penalties.
Will an EPF audit protect me from penalties?
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While it doesn't automatically waive penalties, a proactive audit and self-correction demonstrate good faith, which can lead to reduced damages under the Vishwas Scheme or during settlement.
How long does an EPF audit take?
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Typically 2-4 weeks depending on the size of the establishment and number of years audited. We provide a timeline based on your scope.