Employees State Insurance (ESI)

Employee State Insurance is a self-financing social security plan and health insurance plan for Indian workers, providing medical and disabled benefits. Governed by the ESI Act, 1948, it is directed by Employees State Insurance Corporation (ESIC) under the Ministry of Labour and Employment. ESIC is required to handle the fund as per the rules and regulations set forth by the Act.

Applicability of ESI

The ESIC applies to all the establishments having 10 or more workers and is helpful to all the employees earning Rs.15, 000/- or less per month as wages, an employer must contribute 3.25 percent, and an employee must contribute 0.75 percent towards ESI.

The due date for ESI Return Filing

The employer needs to pay ESI return on a half-yearly data, and the due dates are also planned as follows:

  • The due date for ESIC return filing is 11th November for the duration of return April to September.
  • The due date for ESIC return filing is 11th March for the duration of return October to March.

Provident Fund

Employees Provident Fund (EPF) is a scheme managed by the Employees Provident Funds and Miscellaneous Provisions Act, 1952. It is directed by the Employees Provident Fund Organization (EPFO). PF registration is suitable for all establishment which employs 20 or more persons. PF registration can also be taken voluntarily by establishments holding less than 20 employees:

GST Return Filing Dates

  • Provident fund is a social security plan that was started for encouraging savings among employees, to assist them during their retirement.
  • Contributions are offered by the employer and the employee monthly. PF contributions can simply be withdrawn by the employee at the moment of his/her retirement, barring some exceptions.
  • All employers having PF registration are capable to file returns monthly.

The due date for Filing PF Returns

  • The scheduled date for Monthly Challan remittance to Bank for PF is 15th of Every Month
  • The scheduled date for Monthly PF returns is the 25th of Every Month
  • The scheduled date for yearly returns is 30th April every year

Important Points Relating to Provident Fund

PF Return: Provident fund return must be registered by all entities having PF registration every month. PF return is scheduled on the 25th of each month. Further, a final PF return is expected on the 25th of April for the year ended on 31st March.

PF Payment: Provident Fund (PF) payments are scheduled on the 15th of each month. The employer must keep a total of 12% or 10% of the employee wages towards PF on or before this date every month. For most things, the PF rate of 12% would be suitable.

UAN: The Employee Provident Fund has started the Unified Portal to streamline and clarify all aspects of provident funds for both employers and employees. Employees who have the recently allotted UAN can use the Unified Portal for several services.

Why SK Tax Law Firmyour service provider for ESIC& PF Return Filing?

SK Tax Law Firm is a renowned business platform. Filing ESI and PF Returns are easy, cheapest, seamless, and quickest with SK Tax Law Firm. Apart from ESI and PF returns, SK Tax Law Firm also helps you to file Income Tax Returns, TDS Returns, and GST Returns easily. You may get in touch with us at +91-9719586772 or email info@sktaxlawfirm.com for a free consultation.