Hello seniors,

Currently I am working with a fund raising company and this company starting their new business operation in Mumbai for which we started hiring also (it is not manufacturing unit) and here we may be required 20-25 employees and directors of this company told me to tack care of all legal compliances right from getting co registered for ESIC & PF to till all employees forms related to this 2 acts. Hence considering this condition I need your all guidance for below mention questions.

1. What is the eligibility criteria for PF & ESIC from view point of employees and employers?

2. How to get company registered under PF & ESIC?

3. What type of deductions are required to be made from employee & employer side & what type of forms I have to fill or get it filled from employees and submit on monthly basis to respective department.

4. After deduction how do we pay the deducted amount to the respective department or government.(eg.do I have to go personally and submit that amount in there office)

(Note:- employees which we are hiring there salary bracket is between 12 k to 50 k p.m)

I am sharing with you all some information which I have collected for my understanding, please correct me if I am wrong anywhere.

PF applicability for company:

It is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establishments employing 20 or more person.

Coverage of employees:

Drawing salary up to Rs.15000/- per month

Deduction:

Employees 12% & employers 13.61%

ESIC Applicability:

Is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establishments employing 20 or more person up to Rs.15,000/-

Coverage of employees:

Drawing salary up to Rs.15000/- per month

Deduction:

Employer's 4.75% on gross

Employee's 1.75% on gross

Regards,

Aparna C.
26th July 2016 From India, Mumbai
Hi Aparna,

PF:
REGISTRATION:
YOU CAN APPLY THROUGH ONLINE FOR PF REGISTRATION, THROUGH EPF PORTAL.

PF DEDUCTION:
YOU SHOULD DEDUCT ON BASIC+DA BUT NOT ON THE GROSS. CEILING LIMIT IS RS.15,000/-(BASIC+DA).
IF YOUR SALARY STRUCTURE IS CTC: BOTH CONTRIBUTIONS(EMP, EMPLYR) WILL BE DEDUCTED FROM EMPLOYEE. OTHERWISE EMPLOYER CONTRIBUTION WILL BE BORNE BY THE EMPLOYER.

MONTHLY DEDUCTIONS SHOULD BE PAID THROUGH THE ONLINE PORTAL AND THE ACKNOWLEDGEMENT SHOULD FILE FOR FUTURE REFERENCE.
MONTHLY DOCUMENTS NEED TO MAINTAIN.

ESIC:

YOU CAN APPLY THROUGH ONLINE FOR ESIC REGISTRATION, THROUGH ESIC PORTAL.

ESI DEDUCTION:
ESI DEDCUTION WILL BE DONE ON GROSS. CEILING LIMIT IS RS.15,000/- AS YOU MENTIONED.

AFTER REGISTRATION, YOU SHOULD ENROLL YOUR EMPLOYEES AND GENERATE IP FORMS, AND ISSUE THE SAME TO YOUR EMPLOYEES AND ASK THEM TO TAKE PHOTO AT ESI OFFICE WHERE IT IS AVAILABLE IN YOUR LOCALITY FOR THE PURPOSE OF PECHAN CARD.

YOU CAN MAKE PAYMENT OF MONTHLY CHALLANS THROUGH LOGIN INTO YOUR ONLINE PORTAL.

PT(PROFESSIONAL TAX) SUBJECT TO YOUR STATE NORMS.
1st August 2016 From India, Hyderabad
Fund raising company. Is it a non-profit org? If yes go to the your regional PF & ESI offices. Check whether the act is applicable. If the answer is yes then seek their guidance.
2nd August 2016 From India, Mumbai
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™