EMPLOYEES’ PROVIDED FUND ORGANIZATION REGISTRATION (EPFO)
EPF registration is mandatory for all establishments-
1) which is a factory engaged in any industry having 20 or more persons, and
2) to any other establishment employing 20 or more persons or class of such establishments which the Central Government may, by notification specify on this behalf.
Where the employer and majority of employees have agreed that the provisions of this act should be made applicable to the establishment, they may themselves apply to the Central PF Commissioner.
Now you can get EPFO registration while forming your company. As you know the Ministry of corporate affairs has introduced the form AGILE INC-35 through which anyone who intends to incorporate a company in India now can get EPFO registration along with the registration of the company. Just provide us documents as mentioned in the checklist for getting Employees’ Provided Fund Organization registration. (EPFO)
EMPLOYEES’ STATE INSURANCE CORPORATION (ESIC)
Employee’s State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the Employee’s State Insurance Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948. ESIC is an autonomous corporation by a statutory creation under the Ministry of Labour and Employment, Government of India.
Employee’s State Insurance or ESI is a comprehensive social security program for workers in the event of medical contingencies, such as sickness, maternity, death, or disablement due to employment injury and occupational disease.
Security Benefits:
A. Medical Benefit
B. Sickness Benefit
C. Maternity Benefit
D. Funeral Expenses
E. Confinement Expenses
F. Dependant’s Benefit
Now you can get ESIC registration while forming your company. As you know the Ministry of corporate affairs has introduced form AGILE INC-35 through which anyone who intends to incorporate a company in India now can get ESIC registration along with the registration of the company.
FAQ's
Employees’ State Insurance Scheme of India is a multi-dimensional Social Security Scheme tailored to provide Socio-economic protection to the employees in the organized sector against the events of sickness, maternity, disablement, and death due to employment injury and to provide medical care to the insured employees and their families.
The scheme provides full medical care to the employee registered under the ESI Act, 1948 during the period of his incapacity, restoration of his health and working capacity. It provides financial assistance to compensate the loss of his/ her wages during the period of his abstention from work due to sickness, maternity and employment injury. The scheme provides medical care to his/her family members also.
The Act is applicable to:
a. Every factory engaged in any industry specified in Schedule I to the Act and employing 20 or more persons;
b. Every other establishment employing 20 or more persons specified by the Central Government on this behalf.
Any establishment to which the Act applies shall continue to be governed by the Act even if the number of persons employed therein at any time falls below 20.
a. If any person, for the purpose of avoiding any payment to be made under the Act or the Schemes, knowingly makes any false statement or false representation, he would be punished with imprisonment up to one year, or with a fine up to Rs. 5000.00 or with both.
b. If an employer makes default in payment of the employer’s contribution or the employee’s contribution payable under the Employees Provident Funds Scheme or paragraph 38 of the said scheme relating to the payment of administrative charges, or under section 17(3)(a) of the Act relating to the payment of inspection charges, he would be punished with imprisonment up to three years but it shall not be less than one year and a fine of Rs. 10000.00 in case of default in payment of the employee’s contribution which has been deducted by the employer from the
employee’s wages and six months and a fine of Rs. 5000.00 in any other case.
c. If an employer makes default in payment of the employer’s contribution or the administrative charges payable under the Deposit Linked Insurance Scheme under section 6-C or contravenes the provisions of section 17(3)(a) relating to the payment of inspection charges, he would be punished with imprisonment up to 1 year, but which shall not be less than 6 months, plus fines up to Rs. 5000.00.
d. If any person contravenes or makes default in complying with any other provision of the Act or any condition for exemption from any scheme, he would be punished with imprisonment up to six months but which shall not be less than 1 month and with a fine up to Rs. 5000.00 or with both.
e. If any person convicted of an offense under the Act or the Schemes commits it again, he would be punished with imprisonment up to five years but which shall not be less than two years, plus a fine up to Rs. 25000.00
The employer is liable to pay the employer’s contribution as well as the employee’s contribution irrespective of the fact that wages have been paid to the employees or not.
