PF ESI Consultant in Ludhiana

PF ESI consultants play a very significant role in handling PF ESI registration, return filing, as well as inspection management. Dealing with all these without seeking any external help can be a challenging task for employers in Ludhiana. A PF ESI consultant in Ludhiana can guide and help you with all the queries related to PF ESI registration. Carry on reading to know more.

Employees’ State Insurance (ESI) Scheme

ESI is a contributory fund that allows Indian employees to take part in a self-financed healthcare insurance fund. Both the employee and the employer have contributions to this. ESI is a popular integrated requirement-based social insurance scheme that protects employee interest in injury during employment, sickness, maternity, temporary or permanent physical disabilities, apart from other uncertain events. This scheme includes both cash and healthcare benefits.

What is a Provident Fund (PF)

The Employees Provident Fund (EPF) is also a Contributory fund with contributions from both the employee and employers. The Provident Fund mainly focuses on Post Retirement Income and benefits.

Rules Related to EPF (Employee Provident Fund)

• Here employee and employer contribute 12% of their monthly salary.
• While employees can contribute more than 12% of their salary the employer is not bound to do it.
• The salary includes several elements for PF contribution:
  1. Dearness Allowances (DA)
  2. Basic wages
  3. Conveyance allowance
  4. Special allowance
• The monthly contribution of an employer should be a maximum of Rs 1,800.

PF & ESI Registration Procedure

A PF ESI consultant in Ludhiana can help you with PF & ESI Registration through the following steps:

• The consultants know about your company and then fill out the PF & ESI registration questionnaire before submitting the necessary documents.
• In this step, they verify the given details and documents.
• They fill out and submit application forms using the data given by you.
• In the final stage, the consultants will send you the EPF & ESIC Registration license as well as login credentials through your mail ID.

Required Documents

Documents For Directors/ Partners/Proprietors:

• PAN Card Copy
• Aadhaar Card Copy
• Mobile Number
• Email ID
• DSC of any one Director

Documents For Entity/ Company:

• PAN card Copy (Not necessary if proprietorship firm)
• Address proof
• MOA/ AOA
• Employee Details including Salary.
• Signature Card
• Cancelled Cheque
• Registration Certificate (GST)
• Balance Sheets from the last 3 years

Documents/forms employees need to sign for office records:

• EPF Form 2
• ESIC Declaration form
• EPF Form 11

ESI Advantages

• Medical benefits
• Covers dependents
• Useful at ESI dispensaries as well as hospitals
• Any payments made will be refunded
• Covers the needs of the disabled
• Gives access to Medical care in ESI Dispensaries/Hospitals

EPF Advantages

• Tax-free earnings
• Financial security

Eligibility for PF & ESI Registration

• PF registration must be done by organizations with more than 20 employees. The employees with less than Rs 15000/- monthly salary have to be a member of EPFO.
• ESI Registration is a must for all businesses with more than 10 employees.

PF & ESI Registration Steps

Step 1: PF and ESI Registration

Factories and Establishments should register themselves within fifteen days of the Act becoming applicable. They should submit an Employer’s Registration Form to the Regional Office.

Step 2: OTP PIN Verification

After filling out and submitting the online form, the applicant will get an OTP number on the registered email ID and mobile number. This number will be verified before activating the establishment login.

Step 3: Registration Certificate

Once the registration is complete, the department will share the EPF & ESIC registration certificate along with the login credentials to the registered email ID.

Step 4: Employee Registration

After getting the login credentials employees need to register in the EPF & ESIC portal as given in the registration form to receive a UAN number and Insurance number.

Step 5: Monthly Returns Filing

Establishments should file monthly returns before the 15th of the next month.

Why Hire a PF ESI Consultant in Ludhiana?

An experienced PF ESI consultant efficiently breaks down the salary of an employee making sure the least amount is paid. Since they have years of experience in this realm you can completely rely on them.

However, to get the best professional solution always make sure you contact a trusted PF ESI consultant in Ludhiana. They can enhance compliance efficiency and the success of your business.