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ESI (Employees’ State Insurance) and PF (Provident Fund) are social security schemes by the Indian government. ESI provides health insurance and PF provides retirement benefits to employees.
The Employees’ State Insurance (ESI) Act 1948 and Employees’ Provident Fund and Miscellaneous Provisions Act 1952 are social security legislations enacted by the Government of India. They aim to provide social protection to employees in the organized sector.
The ESI Act provides for medical, disability, dependent, and other benefits to insured employees and the PF Act assures financial security post retirement. All establishments having 10 or more employees and paying wages up to a specified limit need to be registered with designated regional ESI and PF offices.
Subsequently, all eligible employees need to be enrolled. Registration allows establishments and employees to avail scheme benefits. Timely contribution, proper maintenance of records, and periodic inspections ensure robust implementation.
Here are some important terminologies related to ESI and PF registration in India:
The Employees’ State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers.
A provident fund is a compulsory savings scheme for employees where both the employee and employer contribute a portion of the employee’s salary towards a retirement corpus.
Employees’ Provident Fund: A retirement savings scheme in India with monthly contributions from employee and employer, payable as a lump sum at retirement.
A government-run pension scheme linked to the EPF, providing monthly pension after retirement based on employee’s salary and service period.
An online system for employers to file returns and pay EPF/EPS contributions for their employees.
A unique number assigned to each employee covered under the ESI scheme, used for claiming benefits.
A unique number assigned to individuals not covered under ESI scheme, for availing certain benefits.
Establishments exempted from statutory ESI/EPF schemes as they have their own approved schemes.
The period for which contributions are payable into ESI and EPF by employers and employees.
The period during which an insured person is entitled to receive benefits under ESI scheme.
The maximum basic wage limit prescribed for coverage of employees under the ESI and EPF Acts.
The prescribed rates at which contributions are payable by employers and employees into ESI/EPF funds.
A declaration form for exclusion of an employee covered under ESI Act based on certain conditions.
The nomination form to be submitted by an EPF member to nominate beneficiary(ies).
The form used for transfer of EPF account on changing jobs/establishments.
Any person or organization that hires employees for its operations in India needs to register for ESI and PF schemes if they meet the applicability criteria:
The following can apply for ESI and PF registration in India:
Additionally, non-seasonal factories employing even a single employee need to register under PF Act.
Once covered, these establishments need to register within 15 days and cover their eligible employees under ESI & PF schemes. Foreign companies with operations in India also need to comply if they meet the threshold.
Here are the key documents required for ESI and PF registration in India:
Along with these, documents like owner/director identity proof, rent receipts, bank statements, cancelled cheques may also be required in some cases.
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Here are the key steps to register for ESI and PF in India:
The unique code number allotted by ESIC and EPFO office must be used for all future correspondence and submitting monthly/annual returns. Employers must then register eligible employees and start remitting contributions.
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Book a callHere are the main advantages of ESI and PF registration for employers and employees:
For Employers:
For Employees:
In summary, ESI and PF registration safeguards both employer and employee interests in terms of compliance, productivity and social security. It demonstrates a good HR practice too. Hence, establishments meeting applicability norms should voluntarily apply at the earliest opportunity.
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