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.
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.