I have recently joined a private company in Chennai as an HR professional. We are engaged in the trading business, and my employer has tasked me with setting up ESI and PF accounts for the employees within the next 2 to 3 months. Upon researching online, I discovered that a minimum of 20 employees is required to establish a PF account for the company. Currently, we have not yet reached this threshold.
Business Expansion Plans
Furthermore, we are planning to expand our business to other parts of India, such as Bangalore, Hyderabad, Kochi, and other major cities across the country. This has led to some confusion for me. Should I initiate a single PF account under the company's name and use it for all states, or do I need to apply for separate accounts in each state? It may prove challenging for us to reach the 20-person requirement in every state, which adds to the complexity of the situation.
I would appreciate any guidance on the best approach to handle this scenario.
Thank you in advance.
Regards
From India, Madras
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Business Expansion Plans
Furthermore, we are planning to expand our business to other parts of India, such as Bangalore, Hyderabad, Kochi, and other major cities across the country. This has led to some confusion for me. Should I initiate a single PF account under the company's name and use it for all states, or do I need to apply for separate accounts in each state? It may prove challenging for us to reach the 20-person requirement in every state, which adds to the complexity of the situation.
I would appreciate any guidance on the best approach to handle this scenario.
Thank you in advance.
Regards
From India, Madras
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PF is common for the company irrespective of what place in india the employees are located. As soon as you have 20 or more employees, you need to apply for a PF number
From India, Mumbai
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2508From India, Mumbai
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF & ESI.zip
Presentation PF&ESI.ppt
PF Accounts Details.pdf