Complete your PF & ESI Registration
With ourstartupindia.com
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Introduction
An Employment Provident Fund (i.e. EPF) is a retirement perk that is usable by all salaried employees. This reserve is controlled and supervised by the EPFO (i.e. the Employees Provident Fund Organisation of India). Any organization employing 20 employees or more is needed to register under the EPFO as per our legal framework. Contribution to the PF account is mandatory for each employee earning a basic salary up to INR 6500. It is simply a savings medium that enables employees to set aside a fraction of their resources each month.
ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India. This scheme is started by Indian workers. The workers are provided with a huge variety of medical, monetary, and other benefits from the employer. Any Company having more than 10 employees (in some states it is 20 employees) who have a maximum salary of Rs. 15000/- has to mandatorily register itself with the ESIC.
Benefits of PF & ESI Registration
Medical Benefit
Full medical care is provided to all persons registered under ESI and their family members – from the day the person enters insurable employment. There is no ceiling on expenditure on the treatment of an Insured Person or his family member. Medical care is also provided to retired and permanently disabled insured persons and their spouses on payment of a token annual premium of Rs.120/-.
Sickness Benefit
Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year.
Maternity Benefit
Maternity benefit for confinement/pregnancy is provided for three months, which is extendable by further one month on medical advice at the rate of full wage subject to contribution for 70 days in the preceding year.
Disablement Benefit
From the day of entering insurable employment and irrespective of having paid any contribution, 90% of wage is payable so long asthe temporary disability continues. Permanent disablement benefit is payable at the rate of 90% of wages in the form of a monthly payment, in case of permanent disablement based on the extent of loss of earning capacity as certified by a Medical Board.
Dependant Benefit
Dependant benefit is paid at the rate of 90% of wages in the form of monthly payment to the dependant of a deceased insured person, in cases death occurs due to employment injury or occupational hazards.
Easier management
One of the biggest drawbacks of having a publicly-traded company is that with the number of shareholders increasing, the managerial process and operations tend to grow more complex.This is mainly because different shareholders bring their inputs regarding how the business should be run. As private limited companies are owned by fewer people, managing operations is much easier as people are more likely to reach a consensus easily.
Online Registration Facility
Registering your business can feel like a daunting prospect due to the documents required and the legal processes that you must partake in. Our Startup India can help you register your business online in just a few simple steps.
Taxation benefits
Start-ups and private limited companies enjoy better tax breaks than larger companies that are registered differently such as 3 years tax holiday if recognized as startups under startup India, loss of initial years can be adjusted with a profit of company when the company turns into profit and Corporate tax is 25% +cess turnover up till 2 cr whereas in other entities its 30%. This can be a huge boon to entrepreneurs who want to save money wherever possible.
Other Services
Trademark Registration
Rs.5,999/-
Brand Copyright
Rs.3,999/-
FSSAI Registration
Rs.3,999/-
FSSAI License
Rs.6,999/-
Business Plan
Rs.39,999/-
Financial Projection
Rs.29,999/-
GST Registration
Rs.1,999/-
ISO Registration
Rs.7,999/-
Terms and Conditions
Rs.8,999/-
PF & ESI Registration Process
1-2 HOURS
2-3 WORKING DAYS
3-4 WORKING DAYS
Select Package
At Our Startup India, we offer a range of packages to suit your needs. Start by selecting the appropriate one, fill out the required forms, or simply speak to our experts online for assistance.
Collect information and documents
Ourstartup India professionals will collect the basic information and required documents for the initiation of the process.
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Apply for PF & ESI online
Ourstartup India professionals will apply online for PF & ESI with the help of your employer and will acknowledge with the 17 digit unique number the government will issue.
Pre-Requisites
Pre-Requisites
- A registration certificate obtained either under the:
a. Factories Act
b. Shops and Establishment Act - Certificate of Registration in case of Company, and Partnership deed in case of a Partnership
- MOA & AOA
- A list of all the employees working in the Establishment
- PAN Card of the Business Entity as well as all the Employees working under the entity
- The compensation details of all the employees
- A canceled cheque of the Bank Account of the Company
- List of Directors of the Company
- List of the Shareholders of the Company
- A register containing the attendance of the employees
Simple & Transparent Pricing
Basic Package
Save upto-10% cost on this package
7,999
(inclusive All)- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
- Msme Registration
- Share Certificate (Soft Copy)
Basic Package
Save upto-20% cost on this package
9,999
(inclusive All)- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
- Msme Registration
- Share Certificate (Soft Copy)
- GST Registration
- Stamp and Company Seal
- Bank – Current Account Opening
- 10% Discount on Future Service
Premium
Save upto-30% cost on this package
16,999
(inclusive All)- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
- Msme Registration
- Share Certificate (Soft Copy)
- GST Registration
- Trademark Registration
- 1month free GST filing
- NDA
- Guideline for Startup India Registration.
- Stamp and Company Seal
- Bank – Current Account Opening
- 10% Discount on Future Service
FAQs
12% of the basic salary and it remains the same for both the parties (i.e. the employer as well as the employee).
All employees with a basic salary of up to INR 6500/- are needed to compulsorily contribute to the PF. Also, employees with a basic salary of INR 6501 and above have an option for PF.
Yes, the nomination form number 2 has to be filled for the same.
In this case, form number 15 has to be filed.
Yes, PF and ESI coming under the Social Security Act and these are mandatory for all Organisations, where 10 for ESI and 20 for PF employees are working. And it should be mentioned in Salary Slip.
All employees of a covered unit, whose monthly incomes (excluding overtime, bonus, leave encashment) does not exceed Rs. 21,000 per month, are eligible to avail benefits under the Scheme. Employees earning daily average wages up to Rs. 176 are exempted from ESIC contribution.
In an employee-friendly move, the government today made provident fund contribution optional for workers getting salary below a threshold. At present, all employees are required to pay 12% of basic wages including basic salary and DA as a contribution to the PF.
The government is set to raise the monthly wage ceiling for mandatory Employees’ Provident Fund (EPF) cover to Rs 21,000 from Rs 15,000 at present, a move that could inflate the government’s annual Employees Pension Scheme (EPS) outflow by 50% to Rs 3,000 crore.
While contributing towards EPF is mandatory for those earning basic wages of up to Rs 15,000. Those earning basic wages more than 15000 per month, EPF contribution is not mandatory.
Yes. PF has a direct impact on the pension of an employee. Of the amount contributed by the employer towards EPF, 8.33% of it goes to the EPS, i.e., Employee Pension Scheme.
Both the employee and employer contribute 12% of the salary. The employers part consists of 12% of basic wages + dearness allowance + retaining allowance. If the number of employees is less than 20 in the firm, then the PF rate is 10%.
Most employers contribute 12% (called PF) of basic salary every month to the employee’s Provident fund account, shown in CTC. The employee also contributes 12% (called VPF). Difference between Employer PF, Employee PF (Called VPF), and PPF. Employer PF is part of CTC not shown on Salary Slip.