PF / ESI RETURNS

ABOUT PF / ESI RETURNS

The Employees Provident Fund (EPF) is a system governed by the Employees Provident Fund of 1952 and other regulatory legislation. It is regulated by the Employee Provident Fund Organization (EPFO). PF registration applies to all establishments that employ 20 or more people. Companies with less than 20 employees can also voluntarily apply for PF registration. The Fund is a social security system  introduced to encourage savings  to support workers in the process of retirement. Contributions of are paid monthly by employers and employees. With a few exceptions, pension fund contributions can only be withdrawn by employees at retirement. All employers with PF registration are required to file a monthly tax return. Employee National Insurance is a self-funded social security  and health insurance scheme for Indian workers, providing medical and disability benefits. It complies with the 1948 ESI Act and is managed by  the Ministry of Labor and Employment's National Insurance Corporation of Employees . ESIC is expected to manage the fund in accordance with the rules and regulations stipulated by law. ESI Applicability: ESIC applies to all  establishments with 10 or more employees and is paid as wages to all  employees with a monthly salary of Rs 15,000 or less. Employers must contribute 3.25% and employees must contribute 0.75% ESI

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