ESI & PF |
Employee's State Insurance(ESI)is a self-financing social security and health insurance scheme for Indian workers. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. But most of the dispensaries and hospitals are run by concerned state governments. Registered employer is allotted a 17 digit unique identification code. - Employees registered under the ESI enjoy medical attendance and treatment for the person insured and their families including full range of medical, surgical and obstetric treatment, supply of all drugs etc.,
- Employees also enjoy sick pay benefits. ESI provides the employee with tremendous benefits and improves worker morale and retention.
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ESI Registration Criteria |
- Employers having more than 10 employees are applicable to register.
- Contribution scale by Employer 4.75% & Employee 1.75% of the Employee wages towards ESI.
Employee Provident Fund (EPF) is one of the main platforms of savings in India for nearly all people working in Private sector Organizations. The main aim of the EPF scheme is to promote retirement savings for employees across India. The Employees' Provident Fund (EPF) is a corpus of funds built through regular, monthly, contributions made by an employee and his/her employer. The amount contributed to the fund is based on a fixed rate. Employees earn interest on their EPF balances. Both, the interest earned and the total amount withdrawn at maturity are tax-free, making this one of the most popular forms of long-term retirement savings among the working population in India. Besides retirement, funds accumulated in an employee's EPF account can also be used at time of resignation or death. |
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Companies Eligible For EPF |
- An Employer has equal to or more than 20 employees
- EPFO increased the wage ceiling on PF eligibility from Rs.6500 to Rs.15,000 due to salary revisions in both organized and unorganized sector. At present, any employee whose income is above Rs.15,000 is eligible to enroll for EPF scheme.
- Employer shall deposit both employees' and employers' contribution as per specified rates 15th of every month.
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EPF/ESI - Requirements |
ESI-is employees state insurance..which provides medical benefits to the employees and can avail the facilities by going to Govt. ESI dispenseries/hospitals PPF is the provident fund which is deducted from the salary at the rate of 12% per month...which you get at retirement and pension from that money only... PPF-Specified Investment Schemes u/s 80CLife Insurance Premiums Contributions to Employees Provident Fund/GPF Public Provident Deduction under section 80C of the Income-tax Act, 1961, in respect of contributions made to National Savings Certificates VI & VII Issues. Under section 80C2h of the Income-tax Act, 1961Are these Documents ready? Then Click "Get Now" to file your income tax. |
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Required documents for EPF |
- Copy of Pan Card
- Rental Agreement
- Parnership Deed Agreement
- Telephonebill/EB Bill
- Tin/CST Certificate
- Statement showing Employee
- strength from date of joining
- starting the buisness with the
- date of joining
- List of partners/directors
- PL and balance sheet lasty 3 years
- Name of the bankers and bankt
- account No.
- Form 5 A
- Form 13 perfomance of coverage
- PVT Ltd(Memerandum of articles)
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Required documents for ESI |
- Attendance Register
- Salary register
- Rental agreement
- PVT Ltd (Memorandum of articles)
- Parnership deed agreement
- Name of the bankers and bank
- account No.
- Pan card
- Employee list
- List of directors
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