PF ESI Consultant in Punjab
A PF aka Provident Fund is a scheme related to retirement savings that many employers offer their employees as a facility. The objective of this scheme is to help employees save a part of their income while they are working. This is something that they can later use after retirement to support themselves. In a PF scheme, a part of the salary of the employee is deducted each month which is contributed to the fund. Also, there is a contribution from the employer. Make sure you contact a PF ESI consultant in Punjab if your organisation needs any help with PF and ESI registration.
On the other hand, ESI denotes Employee’s State Insurance and this is a health insurance and social security scheme for Indian employees. In this scheme, both employer and employee contribute a percentage of their salary towards the scheme.
Let us learn more about the PF and ESI registration prerequisites in the following passages.
Process for PF & ESI Registration
Tell The Consultant About Your Organisation – You need to fill out the PF & ESI registration questionnaire provided by the consultants and submit the required documents as well.
Verification Process – Once the PF & ESI registration documents are submitted, details that you have already provided will be verified.
Application to PF & ESIC Submission – You will have to fill out and submit various application forms. By the way, you won’t have to take the stress of doing these if you hire a professional PF ESI consultant in Punjab. They will fill these forms by using the data that you have provided them.
It Is Almost Done – This is the final stage where they will send you the PF and ESI Registration license. Also, you will get the login credentials that will be sent to you via your email ID.
Necessary Documents
Required Documents for Employers for PF & ESI Registration
- Documents for Directors or Partners or Proprietors:
- Copy of the applicant’s PAN Card
- Copy of the applicant’s Aadhaar Card
- Mobile Number & Email ID
- DSC from any Director
Documents for Entity or Organisation:
- Copy of the candidate’s PAN card. However, this is not needed for proprietorship firms.
- Address proof which could be COI or Shop and Establishment License.
- MOA or AOA
- Cancelled Cheque with a preprinted name along with account number.
- GST(Certificate of Registration)
- Employee Details including Salary.
- Signature Card.
- Balance Sheets of the last 3 years and this is required only when the company incorporated date and date of coverage in PF/ESI do not match.
Documents Or Forms Employees Need To Sign For Office Records:
- EPF Form 11
- ESIC Declaration form
- EPF Form 2
Eligibility Criteria For PF & ESI Registration
- PF registration is a must for companies with more than 20 employees, and the employees with a salary less than Rs 15000/- should be EPFO members.
- ESI registration is a must for businesses with more than ten employees.
Steps for PF & ESI Registration
- Step one is getting the PF and ESI Registration. Organisations must get registered within 15 days of the Act becoming applicable to them. They will have to submit an Employer’s Registration Form to the Regional Office.
- Step two is OTP verification. Once the online form is filled out and submitted online, the applicant will get an OTP PIN via the registered email ID and mobile number. This PIN will be verified and then the establishment login will be activated.
- Step three is getting the Registration Certificate. After the registration is done, the department will send the PF and ESI registration certificates. Also, they will send the login credentials that will be sent via the registered email ID of the applicant.
- Step four is employee registration. After getting the login credentials employees must register in the PF and ESI portal as mentioned in the registration form. This step is necessary to get the UAN number as well as the Insurance number.
- Step five involves filing the monthly returns. Organisations will have to file monthly returns before the 15th of the upcoming month.
As depicted in the above passages, tackling the entire procedure can be overwhelming for inexperienced people or organizations who are already taking care of so many sides of their business. That is why hiring a PF ESI Consultant in Punjab is necessary.
