PF and ESI Registration in India
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Online PF and ESI Registration
Online Registration of a PF & ESI is now easy with Tax Robo's simple registration process. Register today!
Start with the customer – find out what they want and give it to them.
What is Provident Fund (PF)?
PF stands for provident fund. "Provident" means "preparing for the future" thus a provident fund is money saved to be used in the future.
Provident Fund (PF) Rules in India
The Government of India introduced the Employees Provident Funds & Miscellaneous Act in 1952, to provide a means of living for employees after retirement.
Employee provident fund (EPF)
EPF is a welfare scheme by the government for the benefit of the employees.
Under this scheme, An Employee and their Employer contribute a small percentage of the Employees salary which is transferred to the provident fund account managed by Employees provident fund organization (EPFO), a Government Institution.
The Total EPF balance for an employee for a certain period of time, let's say one month for which they're paid a monthly salary, includes the employee's contribution plus contribution by the Employer, with interest earned on the total amount.
Do you want to know how much of your salary is deducted as a contribution towards EPF?
Calculate your EPF balance with Tax Robo's integrated EPF Calculator
Important Legal Registration Required
EPF Registration for Employers
It is compulsory for all companies and commercial establishments with more than 20 employees to register for EPF.
Registration for EPF needs to be done within one month of reaching a payroll capacity of 20 employees. Failing to do so will cause penalties.
The Employer needs to follow EPF protocols even if the employee strength falls down to less than 20, once after registration is completed.
What is Employees State Insurance (ESI) ?
ESI stands for Employees State Insurance. It is a health insurance scheme launched by the government of India under the Employees State Insurance Act, 1948.
It is managed by Employees State Insurance Corporation (ESIC) which is an organization under the Ministry of Labour & Employment.
For ESI, the employer deducts an amount of 4% of an employee's monthly salary whereas the employer is obligated to contribute only 1% of his monthly salary.
Do you want to estimate how much of your salary goes towards contributions to ESI?
With Tax Robo's ESI Calculator, you can figure out the exact amount of deductions from your salary for ESI within seconds.
Employee's State Insurance (ESI) Benefits
The goal of ESI is to provide medical benefits to employees including sickness, health cover to the employee and their family members, maternity benefits, and financial compensation in case of death or disability of the employee where the family is given up to 90% of their salary.
ESI Regulation in India
It is mandatory for any company that has more than 10 employees having a salary of Rs. 15000 to register itself with the ESIC.
According to Sec 1(5) of the ESI Act, it is essential for Shops, Restaurants, Hotels, Cinemas, Transport Companies, Newspaper Companies, and Private Educational Institutions such as Schools & Colleges to register themselves with the ESIC.
What is the procedure for company registration with the ESIC?
Once all the documents are collected, the Employer needs to fill out Form No - 1 which is Employee Registration Form.
Once downloaded and filled completely, the form needs to be submitted on the website of ESIC and other documents with it, as mentioned above.
Return Due Date.
ESIC & PF Return filling and payment can be both done at the same time. Hence, the ESI return due date is the same as that of payment ie. For ESI on or before the 15th of every month. For PF on or before the 20th of every month.
Basic Package
₹14999 .00
* All Exclusive
- PF & ESI Registration
- Registration for less than 20 Employees
- Basic Preparation of Statutory Records
Family Auditor
₹24999 .00
* All Exclusive
- PF & ESI Registration
- Registration for less than 20 Employees
- Preparation of Statutory Records
- Statutory Registers and Records
- Free Experts Consulting
- Free 1 Month PF & ESI Return filings
How can an employer register their employees for EPF Scheme?
Step 1
Register Online on the official website of EPFO
Step 2
Register DSC
Step 3
Fill in Employer's Details
Step 5
Complete the Application
Documents Required For PF & ESI Registration
ID Proof
Scanned copy of PAN Card, Voter ID, Passport , Driving License
Registered Office Proof
No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property) / Registry Proof or House Tax Receipt (in case of owned property)
Address Proof
Latest Bank statement/ Utility bill in the name of director which should not be older than two months
Photo
Latest passport size photograph
- All the documents mentioned above and
- Partnership deed in case of partnership firms
- Certificate of registration.
- ID proof of partners.
- List of partners with address.
- All the documents mentioned above and
- Incorporation certificate.
- DSC of Directors.
- MoA, AoA.
- List of Directors along with their ID proof.
Following documents are needed to register your establishment with the ESIC. They are
- An Establishment registration certificate.
- MoA (Memorandum of Association) & AoA (Articles of Association) of the Company.
- A list of all working employees.
- PAN Card of the Employer and all the employees.
- Salary details of every employee of the company.
- A list of all the directors and shareholders.
- Employees Attendance Register.
Compliance After Registration of PF & ESI
Statutory Obligations
✓ File GST return every month without delay
✓ PF & ESI return filing
✓ TDS Payments & Return filings
✓ Advance Tax payments
✓ File Income Tax return by every year before due date
Compliances
✓ GST registration
✓ PF & ESI Registration if applicable
✓ Profession Tax registration
✓ Import & Export Code registration
✓ STPI Registration / SEZ registration
✓ Secretarial compliance required for passing resolutions, Change in Management, entering contracts, loan obligations etc
Accounts & Operations
✓ Open a Bank account with one Private Bank and one scheduled Bank
✓ Get one accounting software with GST facility
Performance
✓ Review Financial Products performance by every 3 months
✓ Compare the budget amount with actual Financial Products results