Hi Praveen,
Here are the details that you asked for on citehr.
The formalities for ESI are that you must have a minimum of 20 employees, regardless of whether they are earning a salary of more than 10000/- or less. The maximum ceiling for ESI contribution is up to 10000/- Gross/Month only. Those earning 10001/- or more will be exempted from ESI contributions.
Yes, ESI and ESIC are the same. ESIC stands for Employee State Insurance Corporation.
The employer should register the factory or establishment with the ESI Corporation within 15 days of the ESI Act's applicability. The registration declaration should be filled in form 01, along with a separate sheet containing the establishment's name and address, number of employees, nature of duties, and the name, designation, and address of the controlling manager for offices located outside. Once the application is approved, the ESI regional office will assign a code number to the employer.
Only after this registration can the employees be registered with ESI. They need to fill out a declaration form FORM 1, clearly stating their gender. All declaration forms should be countersigned by the employer.
Next, prepare a return of declaration in form 3 separately for male and female employees within 10 days of filling out the declaration form.
Each employee will then be assigned a temporary identification number.
For PF formalities, the company must be at least 3 years old before it can be registered with the PF department. Similarly, for this Act, the minimum number of employees required is 20.
Every employer covered under the Employee Provident Fund Act should submit particulars of all branches, departments, owners, directors, partners, or other controlling individuals in Form 5A (in duplicate) to the commissioner within 15 days of the scheme's applicability.
Upon receiving Form 5A, the commissioner will verify the submitted particulars and, upon satisfaction, allocate an Establishment Code No.
I hope everything is clear now.
Regards,
Amit Seth.