Nareshv and Associates

ESI & PF Registration

Expert assistance at your fingertips

Steps

1. Fill out the Form

Filling out the form is quick and easy and will provide you with numerous benefits in the long run. By this, you will be able to get consultation from our nareshv & associates CA/CS and will be able to get Guidance. So, why wait? Take the first step towards a bright future for your business and fill out the form today.

2. List of Documents Required

List of documents required for ESI Registration

Adhar Card of Applicant (Director / Partners / Proprietor)
PAN Card of Applicant (Director / Partners / Proprietor)
Photo of Cancelled Cheque (Saving Account / Current Account)
Signature in Specimen
Mobile Number & Email id
In Case of Company (CIN, MOA, Deed, AOA)
Address Proof (Electricity Bill, NOC, Adhar Card, GST Certificate etc)
Employee KYC

List of documents required for ESI Registration

Adhar Card of Applicant
PAN Card of Applicant
Photo of Cancelled Cheque (Saving Account / Current Account)
Consent letter of employee if volutantary registration
Signature Specimen as per Form
Digital Signature of applicant
Address Proof (Electricity Bill, NOC, Adhar Card, GST Certificate etc)
In case of company or Firm : Deed / MOA & AOA, CIN

3. Registration Procedure

ESI Registration Procedure:

Step-1 (Form Filling):
The ESIC Online Registration form is filled by you completely and the necessary documents are submitted

Step-2 (Verification):
Every detail you provide is cross-checked to ensure there are no errors or omissions made. This may take a maximum of 12 days

Step-3 (Submission):
The ESI application along with other legal paperwork is submitted by us which requires 2 working days.

PF Registration Procedure:

Step-1 (Form Filling):
Free consultation and form filling

Step-2 (Verification):
Connect with a dedicated affiliate for data validation

Step-3 (Succession):
Receipt of PF online number

4. Advantages

Benifits of ESI:

Medical Aid
Maternity Aid
Disablement Benefits
Sickness Benefits
Dependent Benefits
Funeral Expenses
Confinement Expenses
Vocational Rehabilitation
Physical Rehabilitation
Old Age Medical Care
Extended Sickness Benefits
Enhanced Sickness Benefit

Benefits of PF:

Pension Coverage
Cover of Risk
Single Account/one EPF Account
Emergency Fund
Employee Deposit Linked Insurance Scheme
Long-Term Goal Completion
Checking the EPF balance
EPF Registration UAN (Universal Account Number)

5. Why ESI and PF Registration important ?

ESI (Employee's State Insurance) and PF (Provident Fund) registration are important because they provide social security benefits to employees in India. ESI provides medical benefits and PF provides retirement benefits to employees. Registering for ESI and PF is mandatory for employers in India with more than 10 employees and helps in compliance with legal requirements and builds goodwill among employees.

6. Penalty for not registering for ESI and PF

Failure to register for ESI and PF can lead to legal penalties, including fines and imprisonment. Additionally, employers may be required to pay retroactive contributions and interest.

ESI and PF Registration

What is ESI and PF Registration?

Employee State Insurance or ESI is a scheme commenced by the Government of India to offer medical, monetary, and other advantages to workers. ESI is managed by an autonomous authority - Employee State Insurance Corporation - which lies under the jurisdiction of the Ministry of Labour and Employment.

Provident Fund (PF) is also sometimes termed as Employees Provident Fund (EPF), as it serves the employees in accumulating money for their future. Every employee is eligible for a PF after the beginning of employment. The PF scheme is managed by the ‘Employees Provident Fund and Miscellaneous Provisions Act, 1952. And this Act is regulated by the 'Employees' Provident Fund Organisation (EPFO).

Frequently Asked Questions

1. What is meant by insurance number?

To recognize each employee, the ESI scheme allots a unique identification number to every worker. This number is called the insurance number and is used for all operational purposes.

2. Is it required by law for an employer to register with ESIC Act?

The law of India states that it is mandatory for every employee to register within ESI. It is considered a statutory responsibility. A factory or establishment has to apply for the scheme within 15 days from the date it becomes eligible.

3. After ESI registration is completed, how many returns need to be filed per year?

Once a factory or establishment is recognized within the ESIC Act, it has to file ESI returns two times per year. For each return filed, the underlying documents have to be submitted: A register of wages A register of the attendance of employees A register of Form 6 Challans and returns of every month A register of any accidents that may have occurred on the premises of the business.

4. How is the scheme collected?

The ESI scheme is a self-financing scheme and is primarily built out of funds from employers and employees collectable monthly at a fixed rate of wages paid.

5. What are the basic wages or monthly salary for the calculation of ESI?

Basic wages comes under ESIC is the total of basic salary plus dearness allowances that excludes the overtime done by the employee.

6. Who must register with the PF department?

A company must register for PF if it has more than 20 employees. The Central Government may require employers with less than 20 employees to make EPF contributions by giving them two month's notice.

7. What is the time taken for EPF employer registration?

Time Taken for PF is one month.

8. Is employee provident fund taxable?

Only contributions of up to 2.5 lakh per year remain tax-free for interest on employee EPF payments. A yearly tax is levied against the employee for interest on contributions exceeding 2.5 lakh.