An Overview
All establishments that have employed 20 or more than 20 employees can apply for PF registration in India. In some cases subject to the circumstances and the exemption establishments employing less than 20 are still eligible for PF registration. The Employee gets an amount that includes the self and employer’s contribution with interest on retirement or resignation.
The employee state insurance (ESI) is managed and regulated by the Employee State Insurance Corporation which is an autonomous body under the Ministry of Labour and Employment, Government of India. The ESI scheme was started for the Indian Employees that provided monetary, medical, and other benefits from the employer to the employee.
Benefits of filing PF / ESI Registration
Below are the benefits of PF/ESI Registration:
- Pension Coverage: Besides the contribution of the employee to EPF, the employer adds an equal amount which is inclusive of Employee Pension Scheme (EPS). Therefore, EPF saves you a robust pension.
- Emergency Fund: Emergencies are bound to happen at any point of time in life. EPF amount can be of great help during mishaps, illnesses, weddings and educational expenses. Employee can make claims online.
- Employee Deposit Linked Insurance Scheme Any person who has PF account is eligible for this insurance scheme that requires only 0.5 % of the salary deduction as premium.
- Medical Aid: From the very first day of employment the registered ESI members and the family members enjoy the benefits of complete medical care and insurance. Retired members and permanently disabled insured persons and their spouses can also avail medical care on payment of an annual premium of Rs.120.
- Maternity benefit: Pregnant women can avail of maternity benefits that are payable up to twenty-six weeks. This maternity leave period can be extended on medical advice by 30 days at the rate of full wage subject to contribution for 70 days in the preceding year.
- Disablement benefit: From the day of the employees irrespective of having done any contribution, 90% of the wage is payable as long as the temporary disability continues. Permanent disablement benefit is payable at 90% of the wage as a monthly payment.
Documents Required for PF / ESI Registration
To fulfill PF/ESI Registration in India, the following documents are necessary :
- Registration Certificate of the Shops and Establishment Acts
- Factories Act
- Address proof of Principal place of business
- Copy of PAN Card
- Latest Bank statement
- Memorandum and Articles of Association or the partnership deed or trust deed depending on the nature of the entity
- Certificate of Commencement Registration Number
How to file PF / ESI Registration
Our expert will be your advisors and consultants for PF/ESI online registration and help get the PF/ESI. Stated below are the process included Registration:
- Collect relevant employee data and documents.
- Establishment Registered.
- Register DSC (Digital Signature Certificate) of the Employer.
- Fill application with all employer details.
- Submit verified form.
- Get Certificates.
