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EPF & ESIC Registration
EPF (Employee Provident Fund) and ESIC (Employee State Insurance Corporation) are government schemes designed to provide financial and social security to employees in India. EPF helps employees save for retirement through employer and employee contributions. ESIC offers medical, disability, and maternity benefits, along with support for employees and their families during sickness or injury.
At Bhanushali & Bhanushali, we simplify EPF and ESIC registration and compliance for employers. Our experts handle everything from registration to ongoing compliance, ensuring your business meets all requirements while you focus on growth. Whether a startup or established, we help create a compliant, employee-friendly organization.
Frequently Asked Questions about Employee Provident Fund Registration
1. What is EPF?
EPF: Retirement savings scheme regulated by EPFO under the Employees' Provident Fund Act, 1952.
Contribution: Employees and employers contribute 12% of the basic salary monthly.
2. Who qualifies for registration under the EPF scheme?
Businesses with 20 or more employees must register under the EPF Act.
Businesses with fewer than 20 employees can opt for voluntary registration.
Employees earning up to ₹15,000/month must be enrolled in EPF.
Employees earning above ₹15,000 can opt for EPF with employer consent.
3. How does the EPF scheme contribute to employees' long-term financial well-being?
• Retirement savings providing financial security post-retirement
• Tax benefits with exemptions on contributions and interest
• Pension scheme ensuring a steady income after retirement
• Life insurance coverage under the Employees’ Deposit Linked Insurance scheme
• Emergency withdrawals for medical, education, marriage, or house construction needs
• Portability with UAN for easy account transfer during job changes
At Bhanushali & Bhanushali, we simplify EPF registration by organizing and submitting all necessary documents accurately. Our team ensures compliance, minimizing delays and errors, while also providing guidance on maintaining updated records for ongoing EPF compliance.
Frequently Asked Questions about Employee State Insurance Corporation
The Employee State Insurance Corporation (ESIC), under the Employee State Insurance Act, 1948, provides medical, maternity, disability, and financial benefits to employees earning up to ₹21,000 per month. Registration is mandatory for establishments with 10 or more employees, based on state rules.
At Bhanushali & Bhanushali, we offer complete support for ESIC registration and compliance, handling eligibility, documentation, and ongoing requirements to keep your business compliant and your workforce protected.
1. Who qualifies for ESIC registration?
Employer: Establishments with 10 or more employees, including factories, shops, hotels, transport businesses, and more (state thresholds may vary).
Employee: Employees earning up to ₹21,000 monthly (₹25,000 for persons with disabilities) are mandatorily covered, including casual, temporary, and contractual workers.
2. What advantages does the ESIC scheme offer?
Medical care for employees and dependents.
Financial aid for temporary or permanent disability.
Paid maternity leave and related care for women employees.
Sickness allowances up to 91 days at 70% of wages.
Monthly pension for dependents in case of work-related death.
Funeral expense coverage for the insured.
Vocational rehabilitation support for permanent disability.
Unemployment allowance during job loss or retraining.
3. How does Bhanushali & Bhanushali assist in ESIC registration?
At Bhanushali & Bhanushali, we make the ESIC registration process seamless by:
• Evaluating your business to determine ESIC applicability and eligibility.
• Preparing and organizing the necessary documents for submission.
• Completing the online registration on the ESIC portal and ensuring accurate data entry.
• Generating the Employer Code Number upon successful registration.
• Providing guidance on maintaining employee records and contributions.