ISO Certified Premium Startup Consultancy Company
ISO Certified Premium Startup Consultancy Company
At some purpose, each organization has got to register for ESI (Employee’s State Insurance) and PF (Provident Fund). PF and ESI Registration are mandatory for all the organizations and corporations that employ more than 20 individuals. in addition, little firms who do not have minimum strength may also register themselves voluntarily.
If an organization grows to the strength of a minimum of twenty members, then they have to register themselves at intervals one month of getting the minimum workers. Continue reading to grasp the registration procedure of ESI and PF.
Employee Provident Fund (EPF) is the retirement benefits scheme where both employer and the employee give a contribution in equal proportion and deposit the same in the EPF account of the member vide monthly return filling.
Employees' State Insurance Corporation dispenses the benefits of availing social security and provide health insurance scheme to workers. It is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated in the ESI Act 1948.
The detailed discussion of EPF and ESIC has been discussed in our earlier articles the link is attached for ready reference:
https://www.neusourcestartup.com/blog/faqs-on-employees-provident-fund--epf-
https://www.neusourcestartup.com/blog/employees-state-insurance-corporation--esic--faqs
The Ministry of corporate affairs has recently made amendments in the company incorporation process and has introduced Spice+ in which the Companies whether Private/Public/Section 8/ One Person company has to while undergoing the incorporation process shall take the ESIC and EPF registration and disabled the services of shram suvidha portal for the ESIC and EPF registration. Whereas the sharam suvidha portal is active for Partnership firms and proprietorship firms
All corporates and offices within the current state of affairs work on the idea of worker welfare, with employers making an attempt laborious to make sure their workers get the most effective care and advantages. associate worker Provident Fund (EPF) is an associate initiative provided to supply social insurance to workers of a corporation that helps in strengthening employee-employer bonds. to induce of these advantages, employers got to follow some tips as expressed by the govt.
1. Scanned copy of PAN card
2. State for which ESI & PF registration is required
3. Primary contact details: Email Id and Contact Number
4. Details of Primary Manager and owner and authorised signatory i.e (Name; Father Name; D.O.B, Designation; Address; Pan card copy; Contact number and Mail id)
5. Number of Employees (Including Excluded Employees) as on date of application
6. Number of Excluded Employees
7. Date on which the Employment Strength Exceed 19
8. No of Employees drawing wages Rs. 21,000 or less:
9. First date on which 10/20 or more persons were employed (including persons employed through immediate employers)
10. Ownership details, if hired or owned with supporting proof
11. Date of agreement and any subsequent date -- mentioned in the said agreement for voluntary coverage. (Only in case of voluntary coverage)
12. Specimen Signature card required to be attached.
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24 Mar
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