Compliance Check for Sec 206AB & 206CCA
1. What is the legal framework of ‘Compliance Check for Section 206AB & 206CCA’ functionality? Via Finance Act 2021, Section 206AB and 206CCA are inserted…
Register your ESI & PF with the help of our Taxteam. We Taxteam leading eminent service providers through Online / Offline mode would help you to get your ESI & PF registration anywhere in India in just one Call / Mail / Message.
ESI & PF are the social security measures taken by the government. Employees State Insurance Scheme (ESI) is a social security scheme provided for the welfare and protection to the labourers. ESI includes all the uncertain events which happen in the field of working like sickness, accidents, maternity, death, temporary disablement, permanent disablement, injury, any injury by hazard at the time of employment. ESI is applicable for establishments wherein 10 or more persons are employed.
Provident Fund ( PF) can be relatable to the famous proverb that “Even a small drop of water makes an ocean” it a small amount that you contribute from your each month salary towards the provident fund, the small amount will converted into lump sum upon the time of retirement or the completion of your employment time. The provident fund scheme is applicable for establishments wherein 20 or more persons are employed.
All types of medical benefits can be availed through the Employees State Insurance Scheme (ESI) where 70% of the medical expenses will be covered including the maternity benefits, old age benefits, diablements and medical related issues.
In case of any uncertain or emergency period the employees cannot bear the expenses which arise, at the time the monetary benefit can be availed by the person.
Not all individuals have the habit of saving for their future life but PF registration helps and encourages a person to save a small amount from his salary. This saving results in a huge monetary amount for their future lifestyle.
The following documents and requirements for registration of ESI & PF,
Aadhar / Voter ID / Driving licence / PAN of the applicant and employee in relation to the proof of identity.
The Address proof of the applicant , Proof of the registered place of business (Ownership documents/ rent or lease agreement), any bill in relation to electricity /landlord bill / bank statement and incorporation certificate and Document in relation to proof of address.
The photos of the applicant to be submitted for the clarification and proof of the concerned person.
The certificate of incorporation of the company / LLP must be enclosed.
The cancelled cheque of the bank account of the company.
Our esteemed professional team would guide you with other requirements based on the nature of business.
Yes, it is mandatory for the establishments engaging 10 or more persons in case of ESI and 20 or more persons in case of EPF to register under ESI and EPF Act respectively.
Private educational institutions, Shops, Restaurants , Hotels, Cinemas, Road Motor Transport Establishments, Newspaper establishments etc are the entities which covered as per the government notification.
Yes, even maternity benefits can be availed through registration of ESI.
No, the PF is applicable for both the public and private sectors. The main motive of the PF is to provide social security for the employees.
If you have any further queries, get our experts’ opinion. For free consultation Contact our Taxteam to resolve all your queries.
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