Hello everybody, Greetings for the day! Below are my few queries, and I would be really thankful if you all can help me.
Procedure for PF and ESI in a Startup
1) My company is a startup in the construction field. Kindly help me with the procedure for PF and ESI, i.e., what are the formalities that we need to cover to get a PF & ESI account and how many employees do we need to hire to start PF and ESI deductions. Also, if there are any other criteria involved in it.
PF Criteria and Minimum Wage Act
2) Is there any criteria in PF where an employee can get time off based on the minimum wage act?
Maintaining PF Account with Minimum Employees
3) If we start the PF deduction with the minimum number of employees required for the same but could not retain it further, do we still have to maintain the PF account, or can we stop it then and there?
Regards, Sachin Singh
From India, New Delhi
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2Procedure for PF and ESI in a Startup
1) My company is a startup in the construction field. Kindly help me with the procedure for PF and ESI, i.e., what are the formalities that we need to cover to get a PF & ESI account and how many employees do we need to hire to start PF and ESI deductions. Also, if there are any other criteria involved in it.
PF Criteria and Minimum Wage Act
2) Is there any criteria in PF where an employee can get time off based on the minimum wage act?
Maintaining PF Account with Minimum Employees
3) If we start the PF deduction with the minimum number of employees required for the same but could not retain it further, do we still have to maintain the PF account, or can we stop it then and there?
Regards, Sachin Singh
From India, New Delhi
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Minimum 20 employees need to be there for PF, and a minimum of 10 employees is required for ESIC registration. To complete the registration process, you need to fill out the registration form and enclose the Shop & Establishment Registration Certificate, company address proof, MOA, company bank statement, and corporation license.
Even if the number of employees is reduced after obtaining the license, you must continue with the PF remittance process.
For any clarification, you can call me at [Phone Number Removed For Privacy Reasons].
Best Regards,
Praveen
From India, Bengaluru
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Even if the number of employees is reduced after obtaining the license, you must continue with the PF remittance process.
For any clarification, you can call me at [Phone Number Removed For Privacy Reasons].
Best Regards,
Praveen
From India, Bengaluru
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Eligibility for EPF and ESI Coverage
To be covered under the EPF Act and ESI Act, a company must have a minimum of 20 employees (if not using power) or 10 employees (if using power) in ESI. You need to obtain a proforma for PF and related documents to be attached. For ESI coverage, Form 01 needs to be filled out along with necessary documents to be enclosed. Employees drawing a gross salary of less than Rs. 15,000 should be covered under EPF, while those with a basic salary of up to Rs. 6,500 are eligible.
Regards,
V. SUBBARAO
[Phone Number Removed For Privacy Reasons]
From India, Madras
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To be covered under the EPF Act and ESI Act, a company must have a minimum of 20 employees (if not using power) or 10 employees (if using power) in ESI. You need to obtain a proforma for PF and related documents to be attached. For ESI coverage, Form 01 needs to be filled out along with necessary documents to be enclosed. Employees drawing a gross salary of less than Rs. 15,000 should be covered under EPF, while those with a basic salary of up to Rs. 6,500 are eligible.
Regards,
V. SUBBARAO
[Phone Number Removed For Privacy Reasons]
From India, Madras
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