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PF/ESI Registrations and Filing

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EMPLOYEES PROVIDENT FUND (EPF)

Employees Provident Fund (EPF) The object of the act is to provide for the institution of provident funds, and family pension and deposit linked insurance scheme for employees in factories and other establishments. The provisions have been made for the better future of the industrial worker on his retirement and for the dependents in case of his death while in establishment. It is a piece of welfare legislations.

COVERAGE

Establishments employing 20 or more persons and engaged in any industries / Classes of Businesses specified. Co-operative Societies, employing 50 or more persons & working without the aid of power.

An establishment continues to be covered under the Act, irrespective of the fall in the employment strength.

Since the Act applies on its own force to the establishments, the employers are required to file the particulars in the specified format for registration and allotment of business number.

DUTIES OF EMPLOYER

Enroll all categories of employees including the employees engaged by or through contractors and also piece rated, hourly rated employees. Remit the contributions and administrative charges before the 15th of the following month.

File the monthly returns

Maintain the contribution card

The employer has to ensure that statutory dues in respect of contractors employees are remitted and returns filed. Make available all relevant records for inspection of visiting officials with due authorisation.

EMPLOYEES STATE INSURANCE (ESI)

The promulgation of Employees State Insurance Act, 1948 envisaged an integrated need based social insurance scheme that would protect the interest of workers in contingencies such as sickness, maternity, temporary or permanent physical disablement, death due to employment injury resulting in loss of wages or earning capacity. the Act also guarantees reasonably good medical care to workers and their immediate dependants. ESI Scheme being contributory in nature, all the employees in the factories or establishments to which the Act applies shall be insured in a manner provided by the Act. The contribution payable to the Corporation in respect of an employee shall comprise of employer contribution and employee’s contribution at a specified rate. The rates are revised from time to time. Currently, the employees contribution rate (w.e.f. 1.1.97) is 1.75% of the wages and that of employer is 4.75% of the wages paid/payable in respect of the employees in every wage period.