EPF and ESIC are the two mandatory requirements for corporate employees. EPF stands for Employees Provident Fund, and ESIC stands for Employees State Insurance Corporation. Companies running with more than 20 employees must register with the Employees Provident Fund Organization of India. However, companies having less than 20 employees can also register voluntary Employees’ Provident Fund. On the other hand, according to the Employees State Insurance Act, 1948, employees earning Rs. 21,000/- per month or less must be included under ESIC. So, companies have to contribute towards the ESIC Scheme. Another term shows that if any company runs with at least 10 employees must register with ESIC (20 employees for some states in India).
Hence, your company has to register under EPF and ESIC to comply with the government norms. If you cannot solve ESIC and EPF registration complications, Online Legal India is with you. With the help of professional CA/CS, we will register your EPF and ESIC details and open a company account to contribute to your employees EPF and ESIC flawlessly. What are you waiting for?
As per the government notification under section1/5 of the ESI Act 1948, the following entities must register under ESIC:
The advantages of enrolling in this scheme are:
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