PF Registration

• Visit the EPFO website and register your organization.
• Read thoroughly the instruction manual before proceeding forward for registration
• DSC Registration 
• Click on the register button on the website and fill the Employer's details on the subsequent screen.

Employees State Insurance scheme of India is the multidimensional Social Security System, to provide social security protection to workers employed in the organized sector in conceivable contingencies like sickness, maternity and death due to disablement due to employment injury.

ESI Act 1948 applies to factories and commercial establishments by employing 10 or more persons operating in entire state of Goa. All employers including casual and contractors employees who are drawing wages up to Rs. 21,000/- per month (excluding over time)are entitled for the comprehensive social security protection under ESI Act by registering the factories/establishments under ESI Act and paying contribution on wages @4.75% as employers share and 1.75% as employees share.

ESI Scheme provides total social security protection to the employees of a covered factory/establishment. Employers are absolved of the liabilities of workmen compensation Act and Maternity Benefit Act. Once covered under ESI Act, employers are protected from the liabilities of sickness, employment injury and accidental death of their workmen including commuting accident. ESI Scheme aims for a healthy workforce to contribute to the productivity of the nation

Apart from providing medical benefits including super specialty treatment, Insured Persons and their family members, ESI Scheme also provides cash compensation to insured persons for loss of wages or earning capacity in times of physical distress arising out of sickness or employment injury. Maternity benefit to Insured women, family pension to the Dependants in case of death due to employment injury, unemployment allowance, physical/vocational rehabilitation etc. are available under ESI Scheme. Commuting accidents are also covered under ESI Act at present.

It is the primary responsibility of the employer to get the factory/establishment registered under ESI Scheme. Employer has to register all workmen including contract labours immediately on entering the insurable employment, which is very helpful in case of any unexpected industrial accidents. (Please note that employees cannot be registered posthumously.)

ESIC values a healthy relationship between its stake holders, principal employers/owners should personally ensure that monthly ESI contribution submitted and employees are registered. Even if consultants are engaged for looking after ESI matters, it is in the interest of the principal employer to personally confirm the timely ESI compliance to avoid unnecessary burden of interest, i.e. 12% and penal damages of up to 25% for the delayed remittance of ESI contribution as well as to avoid contribution assessment proceedings and criminal prosecutions.

ESI Corporation has empanelled leading in hospital in delhi as well across India to provide cashless super-specialty treatment to lacks of Insured Persons and their family members. ESI Corporation has also rolled out computerization of its services by enabling online payments of ESI contribution and issued biometric identity cards for availing ESI services any where any time.

A composite loan limit of Rs.1crore can be sanctioned by banks to enable the MSME entrepreneurs to avail of their working capital and term loan requirement through Single Window in terms of RBI Master Circular on lending to the MSME sector dated July 1, 2010. All scheduled commercial banks have been advised by our circular RPCD.SME&NFS. BC.No.102/06.04.01/2008-09 on May 4, 2009 that the banks which have sanctioned term loan singly or jointly must also sanction working capital (WC) limit singly (or jointly, in the ratio of term loan) to avoid delay in commencement of commercial production thereby ensuring that there are no cases where term loan has been sanctioned and working capital facilities are yet to be sanctioned. These instructions have been reiterated to schedule commercial banks on March 11, 2010.

Handling PF registration in Delhi India, on your own can take up a lot of time and might be confusing. Finding clear guidance with rules changing can be tough. But at Luxe Finalyzer, we're experts in this. We've got the experience to make the process smooth and stress-free for you. While we take care of all the details, you can relax and focus on growing your business. Let us handle your PF registration, so you can aim high and succeed without worrying about the paperwork.

Another benefit of this robust scheme is that the contribution made towards EPF is an eligible deduction under section 80C. The maximum deductible contribution is ceiling the limit of section 80C i.e. Rs.1.50 lakh for current financial year 2015-16.

The current rate of interest is 8.75% p.a. The interest is compounded yearly. The point to note in the interest calculation is done only on the part of EPF not on EPS. So if your contribution towards EPS is Rs.1,800 (12%) and your employer contribution towards EPF is Rs.550 (3.67%) and Rs. 1250 (8.67%) towards EPS, than the interest of 8.75% would be calculated on the amount of Rs.2,350.

Employee Provident Fund is only for salaried person and Public Provident Fund is for self-employed person. But salaried person can enjoy benefit of both EPF as well as PPF while self-employed person can only take benefit of PPF.

You can withdraw your EFP money for various reasons but only by fulfilling certain conditions, non-compliance of which would result in levying of penal interest.

Premature withdrawal means taking money out from the EPF account before 5 years of continuous service. Please note that continuous service means continuous contribution for 5 years. If you left the job after 3 years but made withdrawals after 5 years than also it would construed as premature withdrawal and full withdrawn amount would be taxed. Budget 2015 has levied 10% TDS on premature withdrawal if exceeds Rs.30,000.

As per EPF rules, withdrawing of EPF money at the time of switching jobs is illegal. You can withdraw only and only if you have not joined any other company within two months of quitting the job. You can transfer your EPF money once you get a new job.