Navigating Salary Deposits: How Do You Handle Bank Transfers and PF/ESI Contributions?

Dear Seniors,

Please tell me about the process of depositing salaries of the employees into their bank accounts after the monthly paysheet is prepared. Additionally, kindly explain how to deposit the PF amount and ESI amount into the online portals of EPF and ESI websites.

Your help is greatly appreciated. Please assist me.

Thank you.

Salary Deposit Process

The process of depositing salaries into employee accounts can vary from bank to bank. It is advisable to check with your bankers for specific procedures. However, there may be a standard process that includes preparing a statement for each account (Name, Account Number & Amount) and providing a request letter to the bank stating the transfer of amounts to the respective accounts. Additionally, you would issue a cheque for the total amount in favor of the bank.

Online Payments for ESI & EPF

To make online payments for ESI and EPF, there is a lengthy process that involves return submission followed by payment.

If you need more details, you can reach me.

Regards

Thank you, sir, for your valid reply. Sir, could you please share filled PF and ESI forms and returns of the employees for understanding how to fill the forms because I am getting a lot of confusion while filling the forms. Please, sir, help me.