EMPLOYEE PROVIDENT FUND & STATE INSURANCE


INTRODUCTION


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


These registrationcan also be obtained voluntarily by establishments having less than 20employees.

RECOMMENDATION


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.



TIME LIMIT FOR REGISTRATION


Generally it takes 7-15 Days for registration depends on State to State.



Benefits and Drawback


BENEFITS
DRAWBACKS
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.

DOCUMENTATION FOR REGISTRATION


PURPOSE INDIVIDUAL PARTNERSHIP FIRM SOCIETY/TRUST COMPANIES
PAN Card Himself/Herself Firm Society Company
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
Photo (One) Individual Partners’ Members’ Directors’
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

Packages


My Three packages are :-

SILVER


Included

19,999/-

1 EPF & ESI Certificate

2 UAN generation

3 Consultancy


GOLD


Included

22,499/-

1 EPF & ESI Certificate

2 UAN generation

3 3 Month returns

4 Consultancy




DIAMOND


Included

29,999/-

1 EPF & ESI Certificate

2 UAN generation

3 3 Month returns

4 1 year compliance

5 Consultancy