PF / ESIC Registration

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Every establishments i.e. Company / LLP / Proprietor / Partnership / AOP / BOI etc. which have employee strength of 20 or more are required to be registered with PF Department. The strength of 20 includes contract employees like housekeeping, security or other contractual workers in the business.

Those establishments which do not have the prescribed number of employees but willing to register themselves to provide the benefits of Provident Fund to their employees can register voluntarily with the Regional Provident Fund Office. Registration has to be done within One month from the date of reaching 20 employees. Any delay may result in a penalty.

An employee at the time of joining the employment and getting wages up to Rs. 15,000/- is required to become a member. In this act, Wages means and includes Basic + Dearness Allowances, Cash value of food concession and retaining allowances, if any. He / she is eligible for membership of fund from the very first date of joining a covered establishment.

Provident fund contribution is recovered @ 12% of wages from employees who earn up to a maximum wage of Rs.15,000/- p.m. However, employees can contribute more than this statutory maximum which will be considered as Voluntary Contribution.

1. An employee can contribute voluntarily over and above the stipulated rate of PF contribution by opting for voluntary PF scheme at any rate as he she desires i.e up to 100% of Wages
2. However, the contribution to VPF should be a certain % of wages and not a fixed amount
3. But the employer is not bound to contribute at the enhanced rate
4. It is suggested that the enhancement can be done at the beginning of the financial year for comfort level of calculation

Employer is also required to contribute towards provident fund; the deduction rate is same as employee’s contribution i.e. 12% of the wages. Of this 12%, 3.67% goes to Provident Fund and the balance of 8.33% goes to Pension Fund.

The employer is required to pay the contribution recovered from employees into the provident fund account on or before 15th of the following month, for example, if the contribution is deducted for the month of October 2015, it should be remitted on or before 15th of November 2015.

Employees' State Insurance is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the ESI Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESIC is an autonomous corporation by a statutory creation under Ministry of Labour and Employment, Government of India. As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with previous sanction of the central government and it can acquire both movable and immovable property and all incomes from the property shall vest with the corporations.[1] The corporation can set up hospitals either independently or in collaboration with state government or other private entities, but most of the dispensaries and hospitals is run by concerned state governments.

1. Under Section 2(12) the Act is applicable to non-seasonal factories employing 10 or more persons
2. Under Section 1(5) of the Act, the Scheme has been extended to shops, hotels, restaurants, cinemas including preview theatres, road-motor transport undertakings and newspaper establishments employing 20* or more persons
3. Further under section 1(5) of the Act, the Scheme has been extended to Private Medical and Educational institutions employing 20* or more persons in certain States/UTs