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PF & ESIC Reg. + Compliances

Description

PROVIDENT FUND:

A Provident fund is basically a scheme for the welfare of the employees which is given at the time of their retirement. Under this fund, the employees get outstanding monetary advantages when they get retired.

It is regulated under the Employee’s Provident Fund and Miscellaneous Provisions Act, 1952 by Employee’s Provident Fund Organization. It is important for you to know that any organization that has more than 20 employees needs to register itself as the provident fund organization compulsorily.   

Documents required for provident fund registration

It is important for the employers to provide a few documents in order to ensure the successful registration of the provident fund.

SOME OF THE DOCUMENTS REQUIRED INCLUDES:

  • Copy of certification of incorporation along with a partnership deed if the company is a registered partnership organization
  • A copy of the memorandum and articles of association is required by both public as well as private limited companies
  • PAN details of the company
  • Information about the number of employees
  • Email id and phone number
  • Proof of incorporation that should include the first sales invoice or license issued by competent authorities  


REGISTRATION PROCESS:

  •  Arrange and provide basic documents
  • Make the payment of registration fees
  • Initiate the process
  • Get the PF registration certificate  

ADVANTAGE OF PF REG.:

There are several benefits of PF registration including:

  • An employee gets a lump sum amount after retirement.
  • In case of an emergency, an employee can also withdraw his funds immediately.
  • At the time of switching jobs, there is no requirement of creating a different PF account.   

ESIC REGISTRATION:

ESI or Employee State Insurance offers self-financing security, social security as well as a health insurance scheme for Indian workers. Under the Ministry of Labor and Employment, the Government of India, ESI is considered an autonomous body.

The registration of ESIC is important for entities as well as organizations that come under the ESI Act and have 10 or more persons employed in such an establishment whose salary is not more than Rs.21,000 per month.

ESIC registration is considered as the statutory responsibility of the employer and needs to be acquired through provenience. The returns of ESI are filed on a half-yearly basis on the 11th of May as well as November.

However, the contribution of ESI is deposited monthly i.e. on the 15th of each month. The main reason behind ESI is to offer medical advantages not only to the employees but also to their families. In the case of employee death on duty, ESI also provides monthly income to dependent.

Therefore, once registration under ESI is done it cannot be cancelled even if the number of employees decreases from 10. It is going to remain active till the life of the entity once registered.   

BENEFIT OF ESIC REG.:

  • Sickness benefits at the rate of 70% in the form of salary are given in the case of any certified illness which is valid for 91 days in a year.
  • Maternity benefit is also provided to pregnant women.
  • Employees, as well as his or her family members, are given medical benefits.
  • If an employee expires while on work then a 90% salary is paid to his dependents.   

WHY CHOOSE US?

We, at BusinessBadhega.com, have made it easy for people to apply for the provide fund registration. All the aspects included in the registration are covered by us. So, without having a second thought come and apply for PF registration today and avail benefits.

PF & ESIC Reg. + Compliances in Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Bangalore, Kerala, Pondicherry, Bhuvneshwar, Orissa, Assam, Pune, Nagpur, Nashik, Ahmedabad, Surat Vadodara, Chandigarh, Ladakh, Jammu & Kashmir, Haryana, Gurugram, Noida, Varanasi, Kanpur, Lucknow, Bhopal, Indore, Ujjain, Jaipur, Agra, Himachal Pradesh, Andaman & Nicobar, Lakshadweep, Patna, Ranchi
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