Get Professional Assistance for PF and ESIC Registration with YouTax
The Employees' Provident Fund and the Employees' State Insurance are two of the most well-known schemes for salaried employees. Both schemes are highly beneficial and popular investment options. In each scheme, a specific amount is deducted from the employee's salary, with an additional contribution from the employer. This combined amount is deposited into the employee's account.
The EPF was introduced under the Employees' Provident Fund and Miscellaneous Act, 1952. It is regulated by the Ministry of Labor and Employment and managed by the Employees' Provident Fund Organisation (EPFO). The deducted amount can be used for post-retirement or emergency purposes, with the percentage pre-defined under the Act.
The ESIC, or Employees' State Insurance Corporation, is an autonomous body established to provide health and insurance benefits to employees. Funded jointly by employees and employers, ESIC can also set up hospitals and provide medical care. It can raise loans for employee needs and collaborate with the State Government for healthcare services.
PF & ESIC Registration
Benefits of PF:
- It can be withdrawn at any time for any purpose.
- The PF is created and maintained online, and the employee can access their PF funds from anywhere.
- The amount is exempt from income tax liability if withdrawn after 5 years of continuous employment.
- In case of death, the nominee gets the PF amount and interest accumulated.
Benefits of ESIC:
- Medical benefits for employees and family members.
- Maternity benefits for women: 26 weeks paid leave and 6 weeks leave in case of miscarriage.
- Dependent benefits for the dependents of the insured person.
- Enhanced and extended sickness benefits.
- Disability benefits provided as long as the disability continues.
How to register for PF and ESIC?
The registration of PF and ESIC is a quirky process and can be confusing as it is a documented process. We at YouTax provide you with proper consultations for your PF requirements. We will make sure that your PF and ESIC registration is done as soon as possible and in a hassle-free manner. We ensure that your application is prepared accurately by us. The documentation process is handled by us, and after cross-checking and verifying the documents provided by you, our financial consultants fill out the application form for you. After these tedious processes, we make sure that you get your license approved.
The whole process is completely documentation-based, and therefore financial consultation is a must while making registration for EPF and ESIC schemes. Our reliable consultants make sure that your PF and ESIC registration gets done in no time. All you have to do is contact us on our mobile number +91 9610456254 or just visit our websiteyoutax.in.