Employee Provident Fund (EPF) is an initiative to give social benefits to employees; it is a scheme defined under Employees Provident Funds and Miscellaneous Provisions Act, 1952 which is regulated by the Employees Provident Fund Organization (EPFO).
According to this, if the establishment has the strength of more than 20 employees then it is mandatory for the establishment to obtain EIN No. The total strength of employee Includes contractors or temporary employees like housekeeping staff, daily wage worker security or other temporary workers in the business. Even if a company has employee strength of less than 20 then the company can voluntarily apply for EIN (Employer Identification Number). Company has to obtain EPF registration certificate within 30 days from the date of employment of 20 employees. We at Aksharaa are the best PF Consultants in Chennai.
Documents Required for Registration
Copy of PAN Card of firm/company/society/trust.
Copy of Cancelled cheque (bearing pre-printed company/firm name & Current Account No).
Partnership Deed (In case of Partnership Firm).
Certificate of Registration (In case of Proprietorship/ Partnership/ Company / LLP).
Certificate of Incorporation (In case of company/ society, trust/ NGO).
Copy of PAN Card of Directors / Partner.
Copy of Aadhaar Card/ Voter identity card of Director.
The Employees' State Insurance Act, 1948 enacted by the legislature as an integrated need based social insurance scheme that would protect the life and living of workers in sickness or any kind of accident, maternity, temporary or permanent physical disablement, death due to employment injury resulting in loss of salary or earning capacity of an Individual. The ESIC Act also guarantees reasonably good medical care to workers and their immediate dependents. Online ESIC registration is mandatory for all employees earning INR 21,000 per month or less per month as wages or salary.
In India, ESI is a type of self-financing social security scheme. Previously, ESI was only applicable in factories where 10 or more persons were employed. Later on, the ESI scheme expanded. Now, any factory or establishment where there are 10 or more persons are employed and drawing wages upto Rs.21,000 per month has to mandatorily obtain the ESIC registration.
The employer needs to contribute 4.75 % and employee needs to add 1.75% total share 6.5% of Gross salary. This fund is supervised by the ESI Corporation established under the Act. The employer has to mandatory register within 15 days from the Incorporation. The ESI Corporation has to oversee the provision of medical and cash benefits ESI Card holder and depended family member. Now ESI Corporation has established a vast network of Regional offices, dispensaries, and hospitals throughout all the main cities in India. The state government is accountable for the administration and supervision of the hospitals. ESIC Registration process is completely online and we can do this process on your behalf. We are the most well-known company for ESI consultants in Chennai.
Documents Required for Registration
From All Directors and Shareholder.
Document Form 01 Employer's Registration
List of minimum 10/20 Employees with their DOJ and Rate of Salary.
Memorandum & Articles of Association with Certificate of Incorporation/Partnership Deed as applicable.
Copy of PAN.
Copy of Bank Statement.
Copy of GST Registration.
Copy of Factory/Shop & Comm. EST Registration.
A copy of any other Registration as may be.
Declaration Form of each employee along with their 2 Postcard size photographs (Optional)
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