Hi All Want to know how to open PF Account for new joinee as well as ESI and also tell about on what salary tax would be deducted. Kindly Response. Regards Smrins
From India, Hyderabad
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16From India, Hyderabad
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To open a PF account for a new employee in Hyderabad, India, you need to follow specific steps as per the Employees' Provident Fund Organization (EPFO) guidelines. Here is a detailed guide:
Opening a PF Account for a New Joiner:
1. Obtain the new employee's Aadhar card, PAN card, bank details, and other required documents.
2. Fill out Form 11 and submit it to the EPFO portal.
3. Generate a UAN (Universal Account Number) for the new employee.
4. Provide the UAN to the employee for future reference.
ESI Registration:
1. Register your company for ESI on the ESIC portal.
2. Obtain the employer's code number.
3. Enroll the eligible employees for ESI benefits.
4. Deduct the ESI contribution from the employee's salary.
Tax Deduction at Source (TDS):
Tax is deducted at source if the employee's salary exceeds the taxable limit. In India, for the financial year 2021-22, TDS is applicable if the salary exceeds Rs. 2.5 lakhs per annum. The TDS rates vary based on the income slabs.
Remember to comply with all legal requirements and keep the new joiner informed about their PF, ESI, and tax deductions. For further details, refer to the EPFO and ESIC official websites for accurate and up-to-date information.
From India, Gurugram
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Opening a PF Account for a New Joiner:
1. Obtain the new employee's Aadhar card, PAN card, bank details, and other required documents.
2. Fill out Form 11 and submit it to the EPFO portal.
3. Generate a UAN (Universal Account Number) for the new employee.
4. Provide the UAN to the employee for future reference.
ESI Registration:
1. Register your company for ESI on the ESIC portal.
2. Obtain the employer's code number.
3. Enroll the eligible employees for ESI benefits.
4. Deduct the ESI contribution from the employee's salary.
Tax Deduction at Source (TDS):
Tax is deducted at source if the employee's salary exceeds the taxable limit. In India, for the financial year 2021-22, TDS is applicable if the salary exceeds Rs. 2.5 lakhs per annum. The TDS rates vary based on the income slabs.
Remember to comply with all legal requirements and keep the new joiner informed about their PF, ESI, and tax deductions. For further details, refer to the EPFO and ESIC official websites for accurate and up-to-date information.
From India, Gurugram
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