Hi friends, please help me. I'm Aravind, and I am running a manpower consultancy. Now, I need to develop my business. Please tell me how I can give ESI and PF contributions to my employees. What are the procedures?
From India, Erode
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From India, Erode
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To give ESI (Employee State Insurance) and PF (Provident Fund) contributions to your employees in India, you must follow specific procedures mandated by law. Here is a step-by-step guide to help you navigate this process:
1. Employee State Insurance (ESI) Contributions:
- Register your company for ESI with the Regional Office of the Employees' State Insurance Corporation (ESIC).
- Obtain the employer's 17-digit unique code number.
- Deduct the employee's ESI contribution (1.75% of gross salary) and contribute the employer's share (4.75% of gross salary) to the ESIC.
- Make ESI payments on a monthly basis through the ESIC portal.
2. Provident Fund (PF) Contributions:
- Register your company for PF with the Employees' Provident Fund Organisation (EPFO).
- Obtain the employer's PF code number.
- Deduct the employee's PF contribution (12% of basic salary) and contribute the employer's share (12% of basic salary) to the EPFO.
- Make PF payments on a monthly basis through the EPFO portal.
3. Compliance and Reporting:
- Maintain accurate records of ESI and PF contributions for each employee.
- File monthly or annual returns as required by the ESIC and EPFO.
- Ensure timely compliance with all ESI and PF regulations to avoid penalties.
4. Seek Professional Assistance:
- Consider consulting with a professional HR or legal advisor to ensure compliance with all ESI and PF regulations.
- Stay updated on any changes in ESI and PF rules to avoid non-compliance issues.
By following these procedures diligently and seeking expert advice when needed, you can effectively manage ESI and PF contributions for your employees in Erode, India.
From India, Gurugram
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581. Employee State Insurance (ESI) Contributions:
- Register your company for ESI with the Regional Office of the Employees' State Insurance Corporation (ESIC).
- Obtain the employer's 17-digit unique code number.
- Deduct the employee's ESI contribution (1.75% of gross salary) and contribute the employer's share (4.75% of gross salary) to the ESIC.
- Make ESI payments on a monthly basis through the ESIC portal.
2. Provident Fund (PF) Contributions:
- Register your company for PF with the Employees' Provident Fund Organisation (EPFO).
- Obtain the employer's PF code number.
- Deduct the employee's PF contribution (12% of basic salary) and contribute the employer's share (12% of basic salary) to the EPFO.
- Make PF payments on a monthly basis through the EPFO portal.
3. Compliance and Reporting:
- Maintain accurate records of ESI and PF contributions for each employee.
- File monthly or annual returns as required by the ESIC and EPFO.
- Ensure timely compliance with all ESI and PF regulations to avoid penalties.
4. Seek Professional Assistance:
- Consider consulting with a professional HR or legal advisor to ensure compliance with all ESI and PF regulations.
- Stay updated on any changes in ESI and PF rules to avoid non-compliance issues.
By following these procedures diligently and seeking expert advice when needed, you can effectively manage ESI and PF contributions for your employees in Erode, India.
From India, Gurugram
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf