What Happens to PF and ESI Benefits if Employee Count Drops Below 20?

Dear professionals,

Kindly assess the following scenario.

If the number of employees in a company falls below 20, will this have an impact on the existing Provident Fund (PF) and Employee State Insurance (ESI)? If the company is required to establish employee benefits like PF and ESI initially, will these obligations be revoked after the reduction in the number of employees?

As per the act:

Applicability of the Act

[(5) An establishment to which this Act applies shall continue to be governed by this Act notwithstanding that the number of persons employed therein at any time falls below twenty.]

Please let me know if you need further assistance.