Recently, I have joined a limited company, and here we have a team of 20 employees. The office assistant's salary is ₹8000. Can anyone suggest how to set his salary structure, including the minimum wages act, PF, and ESIC? Also, I don't have an idea about the registration process for PF and ESIC.
From India, Ahmedabad
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From India, Ahmedabad
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To set up the salary structure for the office assistant earning ₹8000, including PF and ESIC registration, follow these steps:
1. Minimum Wages Act Compliance:
- Ensure the salary meets the minimum wage requirements as per the Minimum Wages Act for your location.
2. Provident Fund (PF) Registration:
- Register your company for PF with the Employees' Provident Fund Organisation (EPFO) online portal.
- Obtain the Employer Registration Number (ER) after registration.
3. PF Contribution:
- Deduct 12% of the employee's basic salary towards PF contribution.
- Contribute an equal amount from the employer's side.
4. Employee State Insurance Corporation (ESIC) Registration:
- Register your company for ESIC on the ESIC portal.
- Obtain the 17-digit employer code number after registration.
5. ESIC Contribution:
- Deduct 0.75% of the employee's gross salary towards ESIC contribution.
- Contribute 3.25% from the employer's side.
6. Documentation:
- Maintain accurate records of PF and ESIC contributions for compliance purposes.
- Provide payslips reflecting the deductions to the employee regularly.
7. Compliance Check:
- Ensure timely deposit of PF and ESIC contributions before the due dates to avoid penalties.
- Stay updated with any changes in PF and ESIC regulations to maintain compliance.
By following these steps, you can effectively set up the salary structure for the office assistant while complying with PF, ESIC regulations, and the Minimum Wages Act.
From India, Gurugram
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541. Minimum Wages Act Compliance:
- Ensure the salary meets the minimum wage requirements as per the Minimum Wages Act for your location.
2. Provident Fund (PF) Registration:
- Register your company for PF with the Employees' Provident Fund Organisation (EPFO) online portal.
- Obtain the Employer Registration Number (ER) after registration.
3. PF Contribution:
- Deduct 12% of the employee's basic salary towards PF contribution.
- Contribute an equal amount from the employer's side.
4. Employee State Insurance Corporation (ESIC) Registration:
- Register your company for ESIC on the ESIC portal.
- Obtain the 17-digit employer code number after registration.
5. ESIC Contribution:
- Deduct 0.75% of the employee's gross salary towards ESIC contribution.
- Contribute 3.25% from the employer's side.
6. Documentation:
- Maintain accurate records of PF and ESIC contributions for compliance purposes.
- Provide payslips reflecting the deductions to the employee regularly.
7. Compliance Check:
- Ensure timely deposit of PF and ESIC contributions before the due dates to avoid penalties.
- Stay updated with any changes in PF and ESIC regulations to maintain compliance.
By following these steps, you can effectively set up the salary structure for the office assistant while complying with PF, ESIC regulations, and the Minimum Wages Act.
From India, Gurugram
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Splitting of minimum wages for PF in abeyance (1).pdf
Minimum Wages, ESI & PF.pps