PF & ESI Registration
Our Price
Market Price : INR 11,500
Our Price : INR 1,999 Only
Savings : INR 9,501
Govt Fees : Inclusive in the price
Time for Registration : 7 to 10 Working Days
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PF & ESI Registration
PF stands for Provident Fund. Similarly, ESI stands for Employees’ State Insurance. The government made these to ensure that the workers are financially secured while they are working and after their retirement. If you are running your own business, you should register for PF/ESI. These schemes help you secure the futures of your employees.
Provident Fund
The Indian Government passed the Employees’ Provident Fund & Miscellaneous Provisions Act in 1952. Under this act, the Provident Fund scheme was established. Provident Fund, in general means an investment fund jointly established by both the employee and the employer to serve as long term savings. Further, its primary goal is to support your employees after their retirement. As per sec. 6 of the Act, your employee will have a part of their salaries deducted as their contribution to the fund. Simultaneously, you as the employer will have to contribute an amount as your end of the contributions to the fund.
Employees’ State Insurance
The Indian Government passes the Employees’ State Insurance Act in 1948. It’s made with the focus, to provide social security and betterment to all workers. The scheme provides social security, in the form of financial protection in case of health-related issues. The ESI is governed by the Employee State Insurance Council (ESIC). Some of the other benefits provided by the ESIC are maternity benefits, medical benefits, disability benefits, etc. According to sec. 2(A) of the Act, you have to register your business to ESIC for the betterment of your employees. And per sec. 38 of the Act, all your employees must be insured. At least, those who meet the requirements. An employee may face many hazards while they are on the job. It’s your duty as the employer, to look after their well-being as well as their dependents. As per sec. 39, both you as the employer and your employees have to contribute to the ESIC fund at the rates specified by the government. You have to pay 3.25% of the basic wage while your employee has to pay 0.75% of the basic wages.
Elegibility
Applicability of PF
If your company has 20 or more employees, you are required by law to register with the EPF scheme. If your company has less than 20 employees, then you are allowed to register by yourself. In other words, It’s voluntary for you. Further, it’s not compulsory for your employee to register for the EPF scheme if they have a salary of more than Rs. 15,000 per month.
Applicability of ESI
As per the sec. 2(12) of the ESI Act, any organization with 10 or more employees have to register for ESI. However, their salary must not exceed Rs. 21,000 or Rs. 25,000 in case of people with disability.
Documents for PF & ESI Registration
Following documents required to apply for both the ESI and PF are similar.
- Copy of PAN/Aadhaar Card
- A copy of the Certificate of Incorporation/Registration Certificate
- Copy of Bank Statement
- Copy of Electricity Bill (address proof)
- A cancelled cheque
- List of all employees
- Copy of Rent/Lease agreement
- Digital Signature
- GST number
- Other than this for EPF registration, you’ll require,
- Employee wise breakup of contributions
- UAN
- And, for ESI registration you’ll require
- Employee Insurance Number
- Date of Appointment
- Employees’ Personal Details (Name, Parent’s Name, etc.)
- Bank Account Details
- Employer Code no.
- Employer Insurance No.
- Contact Information
Procedure of PF & ESI Registration
Step- by- step Guide explaining GST Registration Process Online
- Firstly, sign-up on the Unified Shram Suvidha Portal and a verification link will be sent to your email-id. After verifying, you will be re-directed to a new page for creating your User Id and Password.
- Next, login to your account by using the credentials used for signing up.
- After logging in, go to “Register for EPFO-ESIC” and click on “Apply for New Registration”
- Next, you will be shown the following List of Acts:
- Employees’ State Insurance Act, 1948
- Employees’ Provident Fund and Miscellaneous Provision Act, 1952
- Select the Act for which you are seeking registration. Select the Act applicable to you. If only one of the Acts are applicable, choose that Act.
- Further, enter your:
- Establishment Name as per PAN
- Address of Establishment
- Establishment Setup Details
- Factory License Details, if any
- Start-Up registration number, if any
- MSME registration number, if any
- Lastly, enter ownership details
- Save draft and click on “Next”.
- Next, enter the email address and mobile number of the authorised person.
- Next, you are required to enter:
- Primary Manager details (if any)
- Primary Owner details
- Similarly, you can add more owners.
- Now, select any identifier from the dropdown list and fill in the details
- For instance, if you select “Goods and Service Tax Identification”-
- Enter GSTIN in “Identifier Value”
- Further, enter the name as on the GST Registration Certificate in “Name of Identifier”
- Thereafter, enter the date on which the GST Registration Certificate was issued in “Date of Issue”,
- Next, enter the name of the issuing authority in “Issued by (Authority) ”, which in case of GSTIN would be Goods and Service Tax Department
- Lastly, enter the place where the document was issued in “Issued at (Place)”
- Further, you are required to enter:
- Employee details covered under EPF Act (Note, these details are only required for EPFO registration)
- Total number of employees employed for wages directly and through immediate employers on the date of application (Note, these details are only required for EPFO registration)
- Other common details
- After that, enter branch/ division details, if any
- Further, select the primary business activity, nature and category of work from the dropdown.
- Lastly, upload the documents from the dropdown for proof of address, date of setup proof, license proof.
- Also, upload the specimen signature (Sample format is available on the website).
- Finally, upon filling all the necessary details, you will be required to attach DSC and submit the form. Then, an email will be sent on the registered email address. Moreover, you will also receive the login id and password using which you can login to EPFO and ESIC.
Benefits of PF & ESI Registration
Benefits of PF
- It helps in saving a large sum of money in the long run
- The amount invested is spread through the years
- It can help the employee during a financial crisis
- Helps in sustaining a decent lifestyle after retirement
- Provides tax benefits.
Benefits of ESI
Maternity Benefits: An insured employee can get up to 26 weeks of paid leave from the time of their labour. With 100% of their wages being paid. Further, the leave can be extended for up to a month.
Medical Benefits: An insured employee and their family can receive total medical benefits. They only have to pay a token amount of Rs. 120 annually.
Sickness Benefits: An insured employee can get up to 70% of their daily wages during a medical leave for a maximum of 91 days in a year. Further, in the case of malignant long-term diseases, they can get up to 80% of their daily wages.
Unemployment Allowance: If an employee has worked an insurable job for 3 years, then he is able to access this benefit. In case, of unenforceable circumstances such as the company shutting down. Further, they are able to claim an allowance equivalent to 50% of their daily wages for up to 2 years.
Disablement Benefit: This covers both permanent and temporary disabilities that might occur to an insured employee. During, the course of their work. Due to, the hazardous nature of their work. Further, they can get up to 90% of their daily wages. Moreover, in case of death, their immediate family can get the benefits.
Extended Benefits: Some of the other benefits covered by the ESI are Funeral Expenses, Old Age Medical Care, Rehabilitation, etc.
Frequently Asked Question
Yes, you can register for either both or any of them.
All the documents are to be uploaded online.