PF ESI Consultant in Bhopal

PF (Provident Fund) and ESI (Employee State Insurance) are types of social security schemes in India. These are designed to support employees. PF is a must for all employees who earn more than Rs. 15,000 every month while ESIC is mandatory for employees earning less than Rs. 21,000 per month. Considering the importance and intricacy of these schemes many companies in Bhopal are hiring professional PF ESi consultants to have peace of mind. Here let us discuss the key factors related to PF and ESI. Also, we will discuss the importance of hiring PF ESI Consultants in Bhopal. So, here we go.

What is a Provident Fund?

Provident Fund (PF) is a scheme related to retirement benefits that employers offer to their employees. It is known as a statutory scheme that is regulated by the EPFO (Employees’ Provident Fund Organization). In this scheme, the employer and employee contribute a particular amount of the employee’s salary to the fund. The employee can collect this accumulated amount with interest during retirement, resignation, or at the time of death.

What is Employee State Insurance?

On the other hand, an Employee State Insurance (ESI) is a social security scheme. This scheme offers benefits like medical benefits, disability benefits, maternity benefits, etc. to employees. This scheme is regulated by the Employee State Insurance Corporation (ESIC). Here, the employer and the employee contribute a particular amount of the employee’s salary to the fund. In this scheme, an employee can get medical treatment at any ESI hospital or dispensary.

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Procedure for PF & ESI Registration

  • In the first stage, you tell the PF ESI Consultants in Bhopal about your company. You do it by filling out their simple PF & ESI registration questionnaire and submitting the necessary documents.
  • Then it is time for verification. Once you submit your PF & ESI registration documents and other relevant details, consultants will verify all these.
  • In the next stage, there are various application forms to be filled and submitted. Do not worry since the consultants will fill out these forms.
  • Finally, the work is done. The professionals will send you the EPF & ESIC Registration license along with the login credentials on your provided mail ID.

Documents Required

For Employers:

Copy of PAN Card, Aadhaar Card, Mobile Number and Email ID, and DSC of any one Director (Signatory for EPF & ESIC)

For Entity or Company:

Copy of PAN card (Not needed for proprietorship firm), Address proof such as COI/ Shop & Establishment License, MOA/ AOA, a cancelled Cheque with preprinted name & a/c no, Certificate of Registration (GST), Employee Details along with Salary, Signature Card, Balance Sheets of last 3 years if company incorporated date is different from the date of coverage in PF/ESI.

Documents/forms that all employees need to sign for office records:

EPF Form 11, EPF Form 2, and ESIC Declaration form

Conclusion

The PF & ESI registration procedure is indeed very complicated and seeks the professional guidance of PF ESI Consultants in Bhopal. If you want to simplify the PF ESI registration procedure of your company, consult an expert today.

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