Collection of Documents
Beneficial for both employers and employees
Expert and experienced team for provident fund ESIC registration
Provident Fund Registration
PF & ESIC
Consulting before Application:- It is always advisable to first consult a Provident fund expert before initiating the registration process. It can save an employer from unnecessary legal tangles in the later stage. Also, it will reduce the compliance cost for small companies.
Why Outsource PF & ESIC Filing:– For Micro, Small and Medium companies it is not viable to maintain a team just to look after PF & ESIC payment, instead the whole process can be economically outsourced to an expert firm. It will not only reduce the compliance cost but also reduces the chances of error. It will free up resources for the company to focus on core areas of production. The company will also not be hassled to find a replacement each time the PF staff leave.
Why Trust Us:- AKT Associates is a leading tax compliance firm in India with a decade of experience in Profession tax registration, compliance, and Payroll management. With the dedicated team to handle all PF and ESIC related compliance, We serve more than 100 clients. Our Team has experts with more than 10 years of experience in providing consulting, compliance and automation solutions related to Provident fund and Payroll related services. We undertake advisory, registration and tax return filing for PF and ESIC on monthly basis.
Last but not Least:- After Registration each employee must be allocated Universal Account Number (UAN) Code, which will help them to transfer the fund in case of a job change. Once Online procedure for Registration of Provident fund and ESIC is complete, Monthly online return for PF and ESIC need to be filed before 25th of next month.
What does UAN mean?
UAN refers to Universal Account Number, which is given by EPFO upon provident fund registration. This UAN acts as an umbrella for the numerous Member Ids given to individuals by companies.
Who generates and allots the UAN?
EPFO or Employees’ Fund organization allots UAN.
Is KYC mandatory?
KYC is necessary during provident fund registration online. Aadhaar, Pan and bank account number are required to be given by all members.
What is the procedure for ESIC registration for employers?
As an employer, the ESI registration procedure will have to be completed within fifteen days. Employers must file an application for Form 01.
Are there any compliance requirements that I need to fulfill for ESI?
Once you have completed ESIC registration online, you will be needed to comply with different compliances, such as file half yearly returns, deposit monthly contributions and report to the ESIC authorities in case there are any alterations in the activity of your business, management or ownership, the address, etc.
What does ESIC code number mean?
You will be allotted an ESIC code number, which is a seventeen digit unique identification number, after successful ESIC registration.
If the wage of my employers exceed Rs.15,000/- a month, will the contribution to ESI stop?
Even if the wage limit of your employees exceeds the set limit by the Central Government, the contribution will continue to be deducted for as long as the employee continues to be a part of your organization. However at the time of joining an organization, an employee who is drawing more than minimum prescribed salary can opt out from such scheme, however once opted he can’t opt out.
Why should I register for PF and ESIC?
Provident fund ESIC registration helps to make your company appear credible and stable, But on top of it is mandatory compliance for an employer who I employees more than 20 employees.
What is the Purpose for EPF & ESIC?
EPF: – Employee provident fund or EPF is a measure of saving for the employees, which can be used as a supporting income on retirement, or as a measure of immediate relief in case of an unfortunate situation. This can also be a savior for employees in case of a house purchase, Marriage of their children or any other requirements as mentioned in the EPF MA 1952, where partial withdrawal is allowed.
ESIC: – Employee State Insurance Corporation is a mandatory insurance scheme for workers who are drawing less than Rs/- 15000 in a month (From 2013 this ceiling is increased to Rs 25000/-). This compulsory insurance also helps employers to cover up their contingent liability of treatment and medical expenses, which may be incurred if an accident has happened at the business premises or factory.
On the other hand, it offers economic & medical assurance to workers and its dependents. Besides providing medical benefits to workers and its dependents it also ensures worker from temporary or permanent disablement and sickness.
Who needs/Eligibility to apply for EPF & ESIC?
EPF: – Every Business entity that is employing more than 20 employees will mandatorily need to apply for EPF, Even a lesser no of employees may also warrant the registration if same is provided in the Act.
ESIC: – If you have employed people who are drawing a salary less than Rs/-15000 a month (in 2013 it increased to Rs/-25000), then it is mandatory to cover them with ESIC. While Employee with contribute 1.75% of their salaries, the employer contribution will be 4.75%.
What Kind of Employees need to be covered in Provident fund scheme?
If you are Employing the following type of employees, You need to take Provident fund certificate:-
What is the Procedure of Online Provident fund registration?
Following are the steps in online Procedure for PF Registration:-
What is Provident fund Compliannces? What is due date to make PF payment and filing PF return?
PF and ESIC is regulated by Employee Provident funds and Miscellneus Acts Act 1952. The Fund is regulated by Employee Provident funds Organisation in short called EPFO. The Regulations warrants to take mandatory Registraion if your employee count is more than 20. However a Voluntary registrations can also be sought by employer. It has following compliances
What we do ?
AKT Associates provides end to end PF registration, Compliance, online PF return filing and representation with EPFO authorities. You can trust us to get you PF registration certificate within 7-10 days and also to file PF and ESIC return online time to time without fail.
We are handling more than 1500+ successful clients and providing them with services which covers Legal, Technical, Taxation and other business compliance part. That all says a lot on our ways of working and our expertise in the area.
At AKT associates we have been our client’s obvious choice since more than 20 years. For serving you with the best results we use our experience of decades which has exposed us with deep understand.
With a strong team which comprises of experts with qualification like CA, CS, MBA & LLB and they will all available with the wholesome result, with dedicated customer service team and support staff. We are always there to execute your work efficiently.
We touch the top position not just because we are the best in what we do but also because we know the value of your time and money. We know the value of your time so all the work by AKT Associates is performed on time and at around 70% less cost in comparison to all the other leading firms of the market that too without compromising on the quality aspect.
The services of the firm are performed and delivered by using the cutting edge technology which makes the AKT Associates always available & deliver services right in your email. So it doesn’t matter where you are because we are always at your finger tips.