What is the Applicability criterion of ESI and PF?

What is the Applicability criterion of ESI and PF?

Registration Process for Provident Fund and Employee’s State Insurance

What is Provident Fund?

This is a fund and managed by a central government trust where employers and employees contribute specified amounts every month during the employment tenure of the employee.

Benefits of Provident Fund-> When employee’s get retired or leave that job then he eligible for the benefits of Provident Fund. There are so many benefits of Provident Fund Like,

  • Retirement
  • Medical
  • Housing
  • Family obligations like marriage etc
  • Children’s education
  • Financial of insuring policies

What is Employee’s State Insurance?

Employee’s State Insurance Scheme of India, is a multidimensional social security system tailored to provide socio-economic protection to worker population and their dependents covered under the scheme.

Benefits of State Insurance-> The section 46 of the Act envisages following six social security benefits

  • Medical Benefit
  • Sickness Benefit
  • Maternity Benefit
  • Disablement Benefit
  • Dependent's Benefit
  • Other Benefits

Procedure for PF& ESI Registration

In order to provide its employees with the benefit of Provident Fund and Employees State Insurance the company needs to apply for registration certificate by filling the form online. After filling up the form the company has to submit all the required documents for the registration. Once documents are filled the Authorities carry out a physical inspection of the premises and verify all original documents. Post verification of the documents submitted, the company will be given the allotment letter.

Documents required

  • Address proof of director
  • Address proof of place of business
  • Company incorporation Certificate
  • MOA and AOA
  • Bank statements of the company
  • PAN of directors
  • PAN of entity

Either of VAT/ST/PT/S&E Registration Certificate

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