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TIME AND COST
TIME AND COST. Once the full document received it will take 3 days to obtain the certificate of EPF & ESI. Cost:-
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- Government Fee : Nil/-
- Professional Fee- EPF (Inclusive of Taxes): 5999/-
- Professional Fee-ESI (Inclusive of Taxes) : 5999/-
- Professional Fee-COMBO (Inclusive of Taxes): 9999/-
ABOUT EPF & ESI
EPF:- The Employees’ Provident Fund (EPF) is a savings scheme introduced under Employees’ Provident Fund and Miscellaneous Act, 1952. It is managed by the central board of trustees consisting of the government, employer and employees; it is assisted by The Employees’ Provident Fund Organization. EPFO works under the direct jurisdiction of the government and is managed through the Ministry of Labour and Employment.
EPF is commonly known as PF in India and is a scheme through which a portion of employee’s income is set aside for use during any emergency or post-retirement. The employer and employees deposit a certain percentage towards PF every month. The percentage of money to be deducted from the employee’s salary and percentage to be contributed by the employer is predefined under EPF Act. Eligibility Criteria for Registration under Provident Fund
- Any organisation or factory with at least 20 employees needs to get themselves registered under EPF Scheme.
- Establishment with less than 20 employees may get themselves voluntarily registered.
- Liability to deduct and deposit EPF arises for all employees with wages of Less than INR 15,000 per month,
- Employees of an organization, which are already registered under EPF Scheme, are directly eligible for getting their Provident Fund account opened from date of their joining.
ESI:- ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India. This scheme was started for Indian workers. The workers are provided with a huge variety of medical, monetary and other benefits from the employer. Any non-seasonal factory and company having more than 10 employees (in some states it is 20 employees) who have a maximum salary of Rs. 21,000/- has to mandatorily register itself with the ESIC. Under this scheme, the employer needs to contribute an amount of 3.25% of the total monthly salary payable to the employee whereas the employer needs to contribute only 0.75% of his monthly salary every month of the year. The only exemption to the employee in paying his contribution is whose salary is less than Rs. 176/- per day.
ENTITIES COVERED UNDER ESIC
As per the government notification dated Sec 1(5) of the ESI Act the following entities are covered:
- Shops.
- Restaurants or hotels engaged only in sales.
- Cinemas.
- Road motor transport establishments.
- Newspaper establishments (which is not covered under the Factory Act).
- Private educational institutions.
DOCUMENTS REQUIRED
- PAN Card
- AADHAAR Card
- Cancelled Cheque
- Name of Business
- Copy of Income Tax Return
- Copy of MOA, AOA if Applicable
- Digital Signature (DSC)