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Filing of ESI and EPF Returns
To avoid fines under the acts, ensure you file your ESI and EPF returns by the deadline. With just one phone call, email, or message, you can get assistance from Taxteam, one of the top service providers, to file your ESI and EPF returns online or offline.
Filing of returns under ESI, Act 1948 and EPF, Act 1952
The 1948 Employees' State Insurance Act aims to provide specific benefits to workers in case of illness, maternity leave, or workplace accidents. Every employer subject to the ESI Act must file the necessary returns by the specified deadline and submit the ESIC contributions from both employers and employees by the 15th of the following month at the latest. The law imposes penalties on those who fail to pay or submit the required returns.
The Employees' Provident Funds and Miscellaneous Provisions Act of 1952 aims to incentivize employees to save money for their retirement. Every employer subject to the EPF Act must file the necessary returns by the specified deadline and send in the employer and employee contributions by the 15th of the following month at the latest. The law imposes penalties on employers who fail to make payments or file the required returns.
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Benefits
Benefits of Filing ESI and EPF Returns
Medical Benefits
Employees and their families can benefit from a variety of medical options by filing ESI returns.
Maternity Benefits
Maternity benefits are provided to pregnant women through ESI contributions.
Tax Benefit
EPF contributions are deductible under Section 80C, and interest earned is tax-free.
Pension after Retirement
Employees receive a lifelong pension under the Employees' Pension Scheme 1995.
Faq's
General frequently asked questions
Have questions? Our FAQ section covers common queries to help you find quick and clear answers.
Have Any Question ?
Yes, overtime pay should be included when calculating an employee's coverage for benefits or compensation.
The interest rate for delayed payment of ESI contributions is 12% per annum.
Yes, the company must still file the returns, even if it has no employees, to maintain compliance.
The wage limit for ESIC is ₹21,000 per month for employees (₹25,000 for disabled employees).
Employee IP is not mandatory, but employers often include it in contracts to secure rights to employee-created intellectual property.
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