PF ESI Registration

PF ESI Registration

PF ESI Consultant Services

  • ESI and PF Registration
  • EPF Registration Online
  • EPFO Registration Online Process
  • PF ESI Registration Fees
  • PF ESI Registration Shram Suvidha
  • EPFO New Registration
  • ESIC New Registration
  • PF & ESIC Monthly Return Filling

Employee's Provident Fund (EPFO)

These registrations are being managed by consultancy firms on a larger basis. One of the best-known firms in West Bengal is Chakraborty Consultancy owned by Mr. Arnab Chakraborty. The consultancy is serving various industries by providing the facility of Online EPF Registration. Now let’s discuss the facts related to the EPF.

Provident Fund / EPFO Registration

Employee's Provident Fund organization (EPFO)

EPFO or PF is an arrangement made by the government and managed by Employee’s Provident Fund Organization (EPFO), which is covered under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. The EPF organization is controlled by Ministry of Labour and Employment, Government of India. The Act was framed to provide the benefits to salaried class employees. Under this act, the employees are entitled to receive a pension, insurance or special benefits at specific occasions by contributing a nominal amount towards this fund. The contribution is being deposited from applicable for both employee and employer.

esi pf registration

Online PF Registration

Filling up of form
Submission of Documents
Application Submission to the EPFO and it’s done.

Benefits of PF

Earlier this registration was being done manually by visiting the organization. But now it can be easily done online. An important investment plan for future needs has been made mandatory by the government for the employees drawing a basic salary less than Rs. 15000/-. The fund accumulated would be tax-free and if withdrawal is being made after 5 years of registration then the maturity amount with interest will also be treated as the tax-free income. The contribution also helps employees by facilitating to withdrawal partial amount for expenses like house construction, daughter’s wedding, in the case of critical illness, higher education etc. Thus, it is very important to contribute towards this fund for both employer and employee.

EPF Contribution

12% of Basic Salary of Employee deposited directly towards EPF
12% of Employer contribution is divided as –
8.33% of contribution towards Employees’ Pension Scheme
3.67% of contribution towards Employees’ Provident Fund
1.1% of contribution towards EPF Administration Charges ( After 01/04/2017 0.65% )
0.5% of contribution towards Employees’ Deposit Linked Insurance ( minimum RS. 500/-)
0.01% of contribution towards EDLI Administration Charges( After01/04/2017 RS. 0/-)

Given below are the benefits of PF registration

  • Risk Coverage: The most fundamental benefit of the Provident Fund is to cover the risks employees and their dependents that may arise due to retirement, an illness or their demise.
  •  Emergency Needs:  There are certain unanticipated occasions like marriage or other family occasions, any mishappening or illness that require urgent finance. The PF amount can be of great help.
  • Long-term Goals: There are many long-term goals such as Marriage or higher education that require the urgent availability of funds. The accumulated PF amount often comes handy during such occasions.
  • Uniform Account:  One of the most important aspects of the Provident Fund account that it’s steady and transferable. It can be carried forward to any other place of employment.
  • Covers Pension: Apart from the employee’s 12% contribution towards EPF, an equal amount is contributed by the employer, which includes 8.33% towards Employee Pension Scheme (EPS).
  • Employee Deposit Linked Insurance Scheme:  This scheme is for all the PF account holders. According to it, 0.5% of the salary is deducted from the life insurance premium.

Employee's State Insurance Corporation (ESIC)

Employee State Insurance Corporation Act 1948 was introduced by the government to provide social security and medical facilities to employees and their families. The Act is applicable to the employees drawing a gross monthly salary of Rs. 21000/-. The fund contributed towards ESIC is being managed by Employee State Insurance Corporation. Registered employees and their families are eligible to get medical benefits including surgical and obstetric treatment, ambulance services, supply of all drugs, super-specialty consultation, etc.

HIGHLIGHTS OF ESIC REGISTRATION

ESI Registration

ESIC Registration is applicable to the establishments which in an implemented area and having more than 10 employees. Once, the organization gets registered, a 17 digit unique identification code will be allotted to them. It is the statutory responsibility of the employer to get registered under this act after achieving the said employee level within 15 days.

esi pf registration

Benefits of ESI

Provides complete medical assistance to the employee
It also includes dependents
These benefits can be availed at different ESI dispensaries, clinics and hospitals
Any payment made at hospital is completely reimbursable

ESI Contribution

ESIC contribution is must be made by the employer for all employees drawing a monthly gross salary of up to Rs.21,000 per month. The employer contribution is 3.25% and the employee contribution is 0.75% of the wages. The total contribution made towards ESI Fund will be 4% of the total monthly gross.

due date pf esi registration

Last Date of PF & ESI Payment

Deposition of ESIC & EPF contributions due date is 15th of every month.

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