Understanding PF and ESI: How Do They Differ Between Manufacturing and IT Sectors?

Dear Seniors, I would like to know about the ESI and PF and other statutory needs for both the manufacturing and IT sectors. What is the maximum slab for PF in both sectors? How do we delete the PF account if an employee resigns? Do we need to pay PF for the compulsory six months to PF Corporation, and also for ESI, can we compensate or get back the money paid for the resigned employee? What are the problems in PF payments? Kindly, your valuable help is needed to understand PF clearly.

Awaiting your replies.

Thanks,
Basha

Dear Ramachandran,

The Excel file attached here is very useful for understanding PF and ESI. Thank you very much for your response. However, I would like to know about issues such as PF payment even after an employee resigns, how to stop paying for a resigned employee for the remaining months, and other issues in PF online payments. Is the slab of 6500 common for all industries or specific to any particular industry? Can you please help me with this? I am about to take care of the PF and ESI details in our organization.

Thanks,
Basha

With reference to our query, PF contribution will be on Basic + DA for all industries, and if the basic is less than Rs. 6500/-, then the same will be calculated accordingly. For submitting the details of the employees resigned from the company, use form number 10 and submit the same to PF with the authorized signatory month on month. This will solve all your issues.

Regards