PF ESIC Compliance
Home / PF ESIC Compliance| THE EMPLOYEES PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952 | |
| Coverage of Employees: Any person who is employed for wages in any kind of work of an establishment or employed through contractor in or in connection with the work of an establishment and whose wages do not exceed Rs. 15000 p.m. However, an employee covered under the Act will continue to be covered under the Act even if his wages exceed Rs. 15,000 p.m. but will continue to get benef its as if his wages were Rs. 15,000 p.m. For an International Worker, wage ceiling of 15000/- is not applicable |
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| Employee’s Contribution | 12 % of Basic paid. Entire Cont. of 12% goes to Employee PF A/c or 10% 10% rate is applicable for any establishment in which less than 20 employees are employed. Any sick industrial company and which has been declared as such by the Board for Industrial and Financial Reconstruction Any establishment which has at the end of any financial year, accumulated losses equal to or exceeding its entire net worth and Any establishment in following industries: (a) Jute (b) Beedi (c) Brick (d) Coir and (e) Guar gum Factories. |
| Employer’s Contribution@ 12% | 8.33% goes to Employer’s Pension A/c Note: 2. Monthly payable amount under EDLI Administrative charges @ .01% is rounded to the nearest rupee and a minimum Rs 200/-is 3. In case Establishment is exempted under PF Scheme, Inspection charges @0.18%, minimum Rs 5/- is payable in place of 4. Under Employee’s Deposit-Linked Insurance Scheme the contribution @0.50% is required to be paid up to a maximum limit |
| 15th of every month | PF payment(excluding the 5 grace days allowed) for the preceding month |
| 25th of every month | PF monthly return for the preceding month |
| 30th April | PF Annual return for the year ending 31st March |
| EPFO Launches online receipt of Electronic Challan cum Return (ECR) from the Month of April 2012(March paid in April). The online Challan generation is mandatory only. Online payment is not mandatory. |
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| EMPLOYEES’ STATE INSURANCE ACT, 1948 | |
| Coverage of Employees | Drawing wages upto Rs. 21000/-per month engaged either directly or through contractor |
| Rate of contribution of wages | Employer’s 4.75% Employee’s 1.75% Note : For newly implemented areas, the contribution rate is 1% of wages of Employee and 3% payable by Employers for first 24 months (w.e.f. 06.10.2016) Employees in receipt of a daily average wage upto Rs.137/- are exempted from payment of contribution. Employers will however contribute their own share in respect of these employees. |
| 15th of every month | ESIC payment for preceding month |
| 25th of every month | Generation of ESI Docket for the preceding month |
| 11/11, 11/05 | Half yearly ESI Return |
| Note : Any employee whose wages (excluding remuneration for overtime work) exceeds Rs.15000/-at any time after (and not before) the beginning of the contribution period i.e. (April1 to September 30 and October 1 to March 31), shall continue to be an employee until the end of that contribution period. But in the next contribution period their name should be excluded from ESI employee list(being Salary exceeding Rs.15,000) |
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