Hello seniors,
Currently I am working with a fund raising company and this company starting their new business operation in Mumbai for which we started hiring also (it is not manufacturing unit) and here we may be required 20-25 employees and directors of this company told me to tack care of all legal compliances right from getting co registered for ESIC & PF to till all employees forms related to this 2 acts. Hence considering this condition I need your all guidance for below mention questions.
1. What is the eligibility criteria for PF & ESIC from view point of employees and employers?
2. How to get company registered under PF & ESIC?
3. What type of deductions are required to be made from employee & employer side & what type of forms I have to fill or get it filled from employees and submit on monthly basis to respective department.
4. After deduction how do we pay the deducted amount to the respective department or government.(eg.do I have to go personally and submit that amount in there office)
(Note:- employees which we are hiring there salary bracket is between 12 k to 50 k p.m)
I am sharing with you all some information which I have collected for my understanding, please correct me if I am wrong anywhere.
PF applicability for company:
It is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establishments employing 20 or more person.
Coverage of employees:
Drawing salary up to Rs.15000/- per month
Deduction:
Employees 12% & employers 13.61%
ESIC Applicability:
Is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establishments employing 20 or more person up to Rs.15,000/-
Coverage of employees:
Drawing salary up to Rs.15000/- per month
Deduction:
Employer's 4.75% on gross
Employee's 1.75% on gross
Regards,
Aparna C.
From India, Mumbai
Currently I am working with a fund raising company and this company starting their new business operation in Mumbai for which we started hiring also (it is not manufacturing unit) and here we may be required 20-25 employees and directors of this company told me to tack care of all legal compliances right from getting co registered for ESIC & PF to till all employees forms related to this 2 acts. Hence considering this condition I need your all guidance for below mention questions.
1. What is the eligibility criteria for PF & ESIC from view point of employees and employers?
2. How to get company registered under PF & ESIC?
3. What type of deductions are required to be made from employee & employer side & what type of forms I have to fill or get it filled from employees and submit on monthly basis to respective department.
4. After deduction how do we pay the deducted amount to the respective department or government.(eg.do I have to go personally and submit that amount in there office)
(Note:- employees which we are hiring there salary bracket is between 12 k to 50 k p.m)
I am sharing with you all some information which I have collected for my understanding, please correct me if I am wrong anywhere.
PF applicability for company:
It is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establishments employing 20 or more person.
Coverage of employees:
Drawing salary up to Rs.15000/- per month
Deduction:
Employees 12% & employers 13.61%
ESIC Applicability:
Is extended in area-wise to factories using power and employing 10 or more persons and to non-power using manufacturing units and establishments employing 20 or more person up to Rs.15,000/-
Coverage of employees:
Drawing salary up to Rs.15000/- per month
Deduction:
Employer's 4.75% on gross
Employee's 1.75% on gross
Regards,
Aparna C.
From India, Mumbai
Hi Aparna,
PF:
REGISTRATION:
YOU CAN APPLY THROUGH ONLINE FOR PF REGISTRATION, THROUGH EPF PORTAL.
PF DEDUCTION:
YOU SHOULD DEDUCT ON BASIC+DA BUT NOT ON THE GROSS. CEILING LIMIT IS RS.15,000/-(BASIC+DA).
IF YOUR SALARY STRUCTURE IS CTC: BOTH CONTRIBUTIONS(EMP, EMPLYR) WILL BE DEDUCTED FROM EMPLOYEE. OTHERWISE EMPLOYER CONTRIBUTION WILL BE BORNE BY THE EMPLOYER.
MONTHLY DEDUCTIONS SHOULD BE PAID THROUGH THE ONLINE PORTAL AND THE ACKNOWLEDGEMENT SHOULD FILE FOR FUTURE REFERENCE.
MONTHLY DOCUMENTS NEED TO MAINTAIN.
ESIC:
YOU CAN APPLY THROUGH ONLINE FOR ESIC REGISTRATION, THROUGH ESIC PORTAL.
ESI DEDUCTION:
ESI DEDCUTION WILL BE DONE ON GROSS. CEILING LIMIT IS RS.15,000/- AS YOU MENTIONED.
AFTER REGISTRATION, YOU SHOULD ENROLL YOUR EMPLOYEES AND GENERATE IP FORMS, AND ISSUE THE SAME TO YOUR EMPLOYEES AND ASK THEM TO TAKE PHOTO AT ESI OFFICE WHERE IT IS AVAILABLE IN YOUR LOCALITY FOR THE PURPOSE OF PECHAN CARD.
YOU CAN MAKE PAYMENT OF MONTHLY CHALLANS THROUGH LOGIN INTO YOUR ONLINE PORTAL.
PT(PROFESSIONAL TAX) SUBJECT TO YOUR STATE NORMS.
From India, Hyderabad
3PF:
REGISTRATION:
YOU CAN APPLY THROUGH ONLINE FOR PF REGISTRATION, THROUGH EPF PORTAL.
PF DEDUCTION:
YOU SHOULD DEDUCT ON BASIC+DA BUT NOT ON THE GROSS. CEILING LIMIT IS RS.15,000/-(BASIC+DA).
IF YOUR SALARY STRUCTURE IS CTC: BOTH CONTRIBUTIONS(EMP, EMPLYR) WILL BE DEDUCTED FROM EMPLOYEE. OTHERWISE EMPLOYER CONTRIBUTION WILL BE BORNE BY THE EMPLOYER.
MONTHLY DEDUCTIONS SHOULD BE PAID THROUGH THE ONLINE PORTAL AND THE ACKNOWLEDGEMENT SHOULD FILE FOR FUTURE REFERENCE.
MONTHLY DOCUMENTS NEED TO MAINTAIN.
ESIC:
YOU CAN APPLY THROUGH ONLINE FOR ESIC REGISTRATION, THROUGH ESIC PORTAL.
ESI DEDUCTION:
ESI DEDCUTION WILL BE DONE ON GROSS. CEILING LIMIT IS RS.15,000/- AS YOU MENTIONED.
AFTER REGISTRATION, YOU SHOULD ENROLL YOUR EMPLOYEES AND GENERATE IP FORMS, AND ISSUE THE SAME TO YOUR EMPLOYEES AND ASK THEM TO TAKE PHOTO AT ESI OFFICE WHERE IT IS AVAILABLE IN YOUR LOCALITY FOR THE PURPOSE OF PECHAN CARD.
YOU CAN MAKE PAYMENT OF MONTHLY CHALLANS THROUGH LOGIN INTO YOUR ONLINE PORTAL.
PT(PROFESSIONAL TAX) SUBJECT TO YOUR STATE NORMS.
From India, Hyderabad
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