I recently joined a firm as an HR professional where my responsibilities also include administrative work. However, I am not familiar with the practical aspects of filing returns every month for PF and ESI. I am unsure if there are any other returns that need to be filed. Can you guide me on how to handle this situation, as I am the only HR representative in the company?
How to Stay Updated on Labor Laws
Also, could you advise me on how to stay updated on labor laws? Please share relevant websites and blog page links. I am based in Noida, India.
From India, Noida
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1How to Stay Updated on Labor Laws
Also, could you advise me on how to stay updated on labor laws? Please share relevant websites and blog page links. I am based in Noida, India.
From India, Noida
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Understanding PF and ESI Returns
Provident Fund (PF) and Employee State Insurance (ESI) are mandatory contributions that a company needs to make in India. Here's a simple step-by-step guide to help you:
1. 🠘 Register your company with the EPFO (Employee Provident Fund Organization) and ESIC (Employees' State Insurance Corporation). You can do this online at the EPFO https://www.epfindia.gov.in/site_en/index.php and ESIC https://www.esic.in/EmployeePortal/login.aspx portals.
2. 🠡 Every month, deduct the employee's contribution to PF and ESI from their salary. The current rate for PF is 12% of the basic salary, and for ESI it is 0.75%.
3. 🠜 Alongside the employee's contribution, contribute the employer's part as well. For PF, it is 12% of the basic salary, and for ESI it is 3.25%.
4. 🠛 Submit the collected PF and ESI online through the respective portals. This needs to be done by the 15th of the following month for PF and by the 21st for ESI.
Keeping Track of Labor Laws
Staying updated with labor laws can seem challenging, but there are a few methods that can help:
1. 🔸 Visit the Ministry of Labor and Employment's website https://labour.gov.in/ regularly for official updates and notifications.
2. 🠖 Subscribe to HR and law-related blogs and newsletters. Websites like SHRM India https://www.shrm.org/india/pages/default.aspx and Labour Law Reporter https://labourlawreporter.com/ provide valuable insights.
3. 🔛 Attend HR-related seminars, webinars, and workshops that focus on labor laws and HR practices.
4. 🠑 Join HR communities and forums where you can interact with other professionals and get updates.
Remember, careful record-keeping and timely contributions are key to successful PF and ESI management.
From India, Gurugram
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Provident Fund (PF) and Employee State Insurance (ESI) are mandatory contributions that a company needs to make in India. Here's a simple step-by-step guide to help you:
1. 🠘 Register your company with the EPFO (Employee Provident Fund Organization) and ESIC (Employees' State Insurance Corporation). You can do this online at the EPFO https://www.epfindia.gov.in/site_en/index.php and ESIC https://www.esic.in/EmployeePortal/login.aspx portals.
2. 🠡 Every month, deduct the employee's contribution to PF and ESI from their salary. The current rate for PF is 12% of the basic salary, and for ESI it is 0.75%.
3. 🠜 Alongside the employee's contribution, contribute the employer's part as well. For PF, it is 12% of the basic salary, and for ESI it is 3.25%.
4. 🠛 Submit the collected PF and ESI online through the respective portals. This needs to be done by the 15th of the following month for PF and by the 21st for ESI.
Keeping Track of Labor Laws
Staying updated with labor laws can seem challenging, but there are a few methods that can help:
1. 🔸 Visit the Ministry of Labor and Employment's website https://labour.gov.in/ regularly for official updates and notifications.
2. 🠖 Subscribe to HR and law-related blogs and newsletters. Websites like SHRM India https://www.shrm.org/india/pages/default.aspx and Labour Law Reporter https://labourlawreporter.com/ provide valuable insights.
3. 🔛 Attend HR-related seminars, webinars, and workshops that focus on labor laws and HR practices.
4. 🠑 Join HR communities and forums where you can interact with other professionals and get updates.
Remember, careful record-keeping and timely contributions are key to successful PF and ESI management.
From India, Gurugram
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