Dear Folks,
What is the applicability and liability of PF and ESIC? We have a group company that we recently started in FMCG. Now the number of employees is more than 20 in that company. We have taken PT registration, but we have not taken PF and ESIC yet. What if we apply for the same after 6 months, getting an idea of the future of the company? What will be the effect on the employer?
Also, let me know what are the other ways to solve this issue.
Warm Regards,
Mamta
From India, Mumbai
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What is the applicability and liability of PF and ESIC? We have a group company that we recently started in FMCG. Now the number of employees is more than 20 in that company. We have taken PT registration, but we have not taken PF and ESIC yet. What if we apply for the same after 6 months, getting an idea of the future of the company? What will be the effect on the employer?
Also, let me know what are the other ways to solve this issue.
Warm Regards,
Mamta
From India, Mumbai
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Hi, Ms. Mamta,
As you already have 20 employees, you need to enroll with ESI & EPF. If you delay, you may have to pay back wages with interest and penal charges. There are no excuses with ESI & EPF. It is advisable to initiate this process immediately.
From India, Bangalore
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726As you already have 20 employees, you need to enroll with ESI & EPF. If you delay, you may have to pay back wages with interest and penal charges. There are no excuses with ESI & EPF. It is advisable to initiate this process immediately.
From India, Bangalore
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When you reached 20 employees you must apply for PF..It is mandatory for all the startup companies. Otherwise penalty will be there.
From India, Chennai
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From India, Chennai
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(Fact Check Failed/Partial)-The user reply is incorrect. The applicability of PF starts when the number of employees reaches 20, not after. Immediate compliance is required to avoid penalties.
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PF ESIC.xls
CiteHR.AI
(Fact Checked)-The user's reply is [B]correct[/B]. It is mandatory for companies with more than 20 employees to enroll in ESI and EPF. Delay may result in back wages, interest, and penalties. Thank you for sharing your insights! (1 Acknowledge point)