Employee Provident Fund is the regulatory compliance for the entities who have equal to or more than 20 employees. It is obligatory that employees’ drawing less than Rs. 15,000 per month, to become members of the EPF. An employee who is drawing a pay of more than Rs. 15,000 can still become a member and make PF contributions but it is optional. ESI deducted for all employees earning less than Rs.21,000 per
If there is obligatory requirement then should take these registration. Voluntarily registration give you cost & compliance burden. Additional opinion please contact with our advisor at zero fee.
Generally it takes 7-15 Days for registration depends on State to State.
|1 Regulatory compliance under EPF & ESI Act.||1 Employer contribution equal to employee contribution in EPF and 4.75% contribution in case of ESI.|
|2 Employees will be motivated and dedicated toward their work by this scheme.||2 As an employee point of view EPF will become taxable if withdraw before completing five years.|
|3 It will help employees in emergency. They can withdraw their fund anytime.||3 Transparency and Regulation are very strict by the government..|
|4 Own &Family cover on the occasion of any incident with employees.||4 Monthly return compliance and cost of registration burden.|
|Identity Proof||Aadhar/ DL etc||Firm Deed||Society Certificate /Trust Deed||Certificate Of Incorporation|
|Address Proof||Utility Bill/Rent Agreement/NOC||Utility Bill/Rent Agreement/NOC||Utility Bill/Rent Agreement/NOC||Utility Bill/Rent Agreement/NOC|
|Bank Details||Cancelled Cheque / Bank Staement||Cancelled Cheque / Bank Staement||Cancelled Cheque / Bank Staement||Cancelled Cheque / Bank Staement|
|Authorized Signatory||Letter of Authorization||Letter of Authorization||Letter of Authorization||Letter of Authorization|
|Authorized Signatory KYC||PAN, Aadhar and Photo||PAN, Aadhar and Photo||PAN, Aadhar and Photo||PAN, Aadhar and Photo|
|Employees KYC||PAN, Aadhar and Photo, Bank Details||PAN, Aadhar and Photo, Bank Details||PAN, Aadhar and Photo, Bank Details||PAN, Aadhar and Photo, Bank Details|