If a new business has been set and its a financial business, means the company has business of selling debentuires in the market & then contributing the same fund into other business like FMCG etc. how do we know in wot category does the company will fall for calculating employee PF and ESI
From India, Kolkata
Dear

It is very simple to judge the applicability of ESI as well as PF Act to your company, If you are engaging and employing 10 and more then 10 employees in your company, you are required to get registration with the ESI Authorities. It is an immaterial thing how much is the salary of the employees deployed in your company. Even in the case, when the employees are getting more then Rs15000/- per month, you establishment is required to be get registered with the ESI Authority. If you are employing with 10 employees, kindly login upon esic.in and you can do online registration.

As far as question of provident fund applicability belongs, in accordance with the provision of section 1 (3), if you are employing 20 employees whether direct or indirect, you have to get registered with the Regional PF Office of your area by filling up a simple application in Coverage proforma and attaching with required documents like your legal setup documents, PAN of your company, Service Tax No of your company, if you have, TAN of Company, Residential Proof of the Promoters, Directors, list of employees, 1st Sale Bill/Invoice, 1st Purchase bill equipment etc.

The specimen of Coverage proforma under EPF and MP Act, 1952 and Form no 01 under ESI Act is attached herewith for your ready reference.

Regards

R B Rao

Advocate

From India, Mumbai

Attached Files
File Type: doc Performa for Coverage P.F..doc (40.5 KB, 806 views)
File Type: doc PF Code Application.doc (24.5 KB, 491 views)
File Type: pdf 01.pdf (35.8 KB, 354 views)

Dear Prachidesai306,
The applicability of PF and ESI is not depends upon whether your business is new or old, whether you are in manufacturing or in commercial, whether you are profit making or loss making.
The applicability of PF and ESI is depends upon the number of employees engaged by you directly or otherwise i.e. thru contact. Whether such employees are permanent, temporary, casuals, contractual or on contract basis, whether they are daily rated, monthly rated, piece rated all those things are not material. Shri. RB Yadav, Advocate has rightly replied to your query. The only thing I wish to add that, for coverage of ESI you need to see the notification of your State Govt. as regards to section 1(5).

From India, Mumbai
f a new business has been set and its a financial business, means the company has business of selling debentures in the market & then contributing the same fund into other business like FMCG etc. how do we know in wot category does the company will fall for calculating employee PF and ESI
From India, Kolkata
Dear Sir,
Thanx for your guidance, but I would be more thankful if you could pls tell me the step by step procedure of creating or establishing PF & ESI in an limited company. As the company i am working with is 2 year old but till date the company has no PF ESI code neither have contributed any amount to it. Sir the company is giving offer letters to the employees working with but not proving any appointment letter to the employees.
In such case what should be my action to guide the company in a rite track so that I can get the company registered under both the acts & can formulate a rule for the company & its employees who are working here for smooth & legal running of the company.
Regards
Prachi Desai

From India, Kolkata

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