Registration of EPF & ESI
ESI stands for Employee State Insurance. It is the most popular scheme for employees employed in various sectors in different organizations across the country. The scheme is administered and governed by an autonomous self- financed social security labor organization named ESIC, as per the guidelines stated in the Indian ESI Act of 1948. The Employee State Insurance Corporation functions under the auspicious guidance of the labor ministry, which is under the Government of India. The employees registered under the ESI Registration scheme can avail the medical benefit, monetary benefits provided they are employed in an organization having more than ten employees. After the ESI Registration is done, the employees are provided and assigned with a 17 digit unique identification number or code.
Benefits of ESI Registration are as follows:
- Sickness benefits to the tune of 70% of the monthly salary in case of special diseases.
- Medical benefits and facilities to the family members of the employee.
- Maternity leaves up to three months for pregnant women employees.
- In the event of death caused by the nature of the occupation, ESIC pays 90% of the salary drawn to the family members.
- Other benefits in the form of funeral expenses, vocational rehabilitation, and old-age care are also taken care of by ESIC.
ESI Registration Procedure (Employer):
- The employer has to submit the Employer’s Registration form (Form D-1) to ESIC along with other documents.
- Each employee has to fill up the form -1 along with the family photograph to the employer.
- Documents stating the sector of the company and the incorporation of the company.
- Address proof, PAN Card, Company bank account and all tax related document.
- All the documents of employees
- Registers containing information about employment.
- Latest copy of the company’s bank account.
Employee Provident Fund is the full form of what commonly is known as EPF. It is a scheme under the Employees Provident Funds and Miscellaneous Provision Act, 1952. It is regulated under the purview of Employees’ Provident Fund Organization (EPFO), which is one of the World’s largest Social Security Organizations in terms of clientele and the volume. It acts as a protective shield as a steady source of income after the employees retires from the organization.
- Register the organization with EPFO.
- Read the user manual.
- Register DSC (Digital Signature Certificate).
- Fill the employer’s details.
- Fill the details correctly.
- First name
- Employer PAN
- Get mobile pin
- Activate the E-mail Link.
6. Documents required For EPF Registration for Public Limited Company:-
- Certificate of Registration Firms
- Partnership deed
- Id proof of partners- Drivers license, passport and voter card
7. Documents required for EPF Registration for LLP Company:-
- Incorporation Certificate
- ID Proof of Directors
- DSC of Directors
- MOA and AOA
- List of all directors with address and ID proof.
We at Royal Tax Solution aid all our clients in successful registration for EPF and ESI.