Hi, I recently started my own IT company with a total of 20 employees in the team. I have limited knowledge regarding the deduction of PF and ESI, and I initially kept them on a salary of 7k during the starting period. So, is it necessary for me to deduct PF and ESI?
From India, Kolkata
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1From India, Kolkata
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Sir, yes, you are required to get your unit registered under both Acts - ESI Act, 1948 as well as EPF & MPs Act, 1952. In the case of ESI, you are also required to examine and confirm whether the area where your unit is located is an implemented area under section 1(3) of the said Act. The online registration procedure may be available in the form of literature/material published by the respective departments on their websites, and you can download and take action accordingly.
From India, Noida
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From India, Noida
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Yes it’s mandatory to deduct ESI and PF as statutory compliance. If you pay more than 15000 then no need of ESI but u said 7k. So have to
From India, Hyderabad
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From India, Hyderabad
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Sir Yes, It is desirable to register your company under PF and ESI act.It will not only provide your employee job security but also if you are planning it long term business,it would be mandatory.
From India, Thane
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From India, Thane
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Dear member, for over 25 years, the qualifying period of service for eligibility to become a member of EPF has been abolished. Now, as soon as a person joins any employment, they are required to be enrolled as a member, and contributions are required to be deducted and paid, including the employer's share. Therefore, in my opinion, there is no alternative but to ensure compliance regarding casual, temporary, or any type of employees, even those engaged for only one day.
From India, Noida
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From India, Noida
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Casual building workers are also covered under PF - Delhi HC 28.8.2014.pdf