Online PF & ESIC
Registration in India
Get PF & ESIC Registration in Entire India
Starting At Just Rs 8,500/-
What Is Provident Funds ?
EPF registration is mandatory for the following type of establishments:
- Any factory is employing more than 20 persons during any period, including contract employees.
- Every other establishment employing 20 or more persons as may be notified by the Central Govt.
- Every other establishment employing less than 20 persons as may be notified by the Central Govt.
The central government has notified 187 types of establishment for whom the Employees Provided fund Act is applicable. Various establishments notified by the government include Electronic Media Company, Computer, and Software Industry, Cleaning and sweeper, All schools, college, building and construction, etc.
Any business that is registered under this act at any time will be liable to do compliance under this act even if the employee count falls below 20 people. A business that does not meet the criteria above can choose to voluntarily register with the EPFO if both employers and employees are willing to do so.
Applicability of an employee : Every employee whose salary (Basic + DA) is less than INR 15,000/- is liable to register under the PF Act. However, in the future, the wages might include HRA along with basic pay and DA, and the government might raise the limit.
What Is ESIC ?
The ESI scheme applies to all factories and other establishments as defined in the act with ten or more people employed in such an establishment.
The central government has notified the following organization who shall also comply with the ESIC Act: Shops, Hotels and Restaurants, Cinemas including preview theatres, Road-motor transport undertakings, Newspaper establishments, Establishments engaged in Insurance Business, Non-Banking Financial Companies, Port Trust, Airport Authorities, WarehousingPrivate, Medical and Educational institutions.
The threshold limit for a minimum number of employees is 20 in the case of Maharashtra and Chandigarh.
Applicability of an employee : Any employee whose gross salary is up to Rs. 21,000 per month can avail this with the help of his employer, and the same is mandatory to register under the ESIC scheme.
Why Choose Us
Work Handled by Experienced Professionals
Your Registration will be taken care of by trained & experienced graduates and verified by Independent and highly qualified professionals. So a strict concept of Maker and Checker is followed by us.
Most Competitive & Transparent Rates
We provide the most affordable PF and ESIC registration service, and you will save almost 60% of the total cost of registration.
Legal Compliance
Dashboard
We provide a Legal Compliance Dashboard that acts as your secretary for legal work and intimates you about the upcoming compliances. This will make sure that you do not miss any of the compliance.
Results in Numbers
List of Required Documents
For Employer (Company)
- Name of the company.
- Date of the setup of the organisation.
- Scanned copy of the company’s PAN (Proprietor’s, in case of proprietorship concern).
- Scanned copy of the licenses available in the name of the company. (like GST, Pollution board).
- Scanned copy of cancelled cheque of company’s bank account.
- Address of the company with address proof.
- List of Directors / Partners.
- Address proof of Proprietor / Director / Partner of the company.
- Email address, Mobile Number of Proprietor / Director / Partner of the company.
- Copy of First sale bill / Job work bill and First purchase bill.
- The monthly strength of employees from the date of setup.
- Current list of employees with their details.
Employee Details of Company
- Name
- Father's Name
- Date of joining
- Date of birth
- Mobile Number
- Postal Address
- Name of nominee
- Grade
- Salary
- Designation
- ID Proof (Aadhar & PAN)
- Bank A/c number with IFSC code
- Digital Signature of the Proprietor / Director / Partner
Advantages
Separate Legal Entity
A private limited company is a separate legal entity and a juristic person established under the Companies Act, 2013. A member of a company has no personal liability to the creditors of the company for companies’ debts. Hence the distinct legal entity assures that personal interest of members is safeguarded.
Easy to get funding in the form of Loan or Investment.
Most of the companies vouch for the funds in a year or two to expand its magnitude. Since private limited company has more transparency due to mandatory reporting and audits, results in higher credibility. Due to which all the banks and venture capital are more likely to assist a private limited company.
Limited liability of Members
Being a separate legal entity in the eye of law liabilities of the members is limited to their share capital only. Hence it protects the personal assets and income of shareholders at times of any financial crisis faced by the company.
Perpetual existence of business.
Since a company is an artificial judicial person in the eye of law, its existence is not affected by removal or leaving of its shareholder and directors. Directors of the company are merely an agent of the company and do not affect the company if they leave.
Tax Benefit
Against the most of the organization that is being taxed at the rate of at least 30% in India, the Private limited company is taxed at a rate of 25% if the turnover is less than Rs 400 crores.
Tax Benefit
Against the most of the organization that is being taxed at the rate of at least 30% in India, the Private limited company is taxed at a rate of 25% if the turnover is less than Rs 400 crores.
Frequently Asked Questions (PF Registration)
Both PF& ESIC registration is a centralized and online registration system. It remains the same for all the states throughput country and hence your location doesn’t matter.
Employee and employer make an equal contribution to 12%. PF and EPS (Employees’ Pension scheme) are calculated on basic salary, dearness allowance (DA), cash value of food concession, and retaining allowances if any. However, based on the recent Supreme Court Judgment, the salary shall include Basic + Monthly allowance also.
| Contribution | Employee | Employer |
|---|---|---|
| Provident Fund | 12% | 3.67% |
| Employee Pension Scheme | 0% | 8.33% |
| Exemptions | (I) No tax exempt (II) Eligible for deduction under 80C |
Tax Exempt |
In case if the salary is more than 15,000 P.M, then contribution is restricted up to INR 1800 Per Month based on the employee discretion.
It is mandatory for employees drawing basic salary up to INR 15,000/- to register and contribute to the provident fund and employees drawing above 15,000/- have the option to register or not.
Yes, it is beneficial for the employees since the contribution made by an employee is allowed as a deduction and that of an employer is not taxed. Additionally, it is an excellent scheme for saving as it has a fascinating return as compared to risk.
Under such cases, the deduction has to be made for the entire period, and the same can be discontinued only in the succeeding year.
Form 2 has to be filled to register yourself as a member of the provided funds. The form can be collected from the HR department of your company.
When a member completes 10 years of his continuous service, he is eligible to enjoy the pension scheme.
Yes, an employee can log in at the PR site and give the application for the withdrawal in case he has left the service.
The Employee Pension Scheme acts as a Supper Pension Plan, Retiring Pension, and Permanent total disability pension for the employees. As there is no systematic investment option for the people of India, it acts as a lifesaving investment.
No, as per the PF Act, a person can have only one UAN number throughout his life, and in case he has more than 1 UAN then he should be surrendering the extra one.
Any establishment which has been covered under the PF Act once shall continue to comply and governed by the Act for the entire period of existence.
A trainee that is covered under the Apprentice Act will not be covered under the Provided Fund Act. However, if that is not the case, then the PF Act should apply to such employees.
It is the responsibility of the Contractor to comply with the PF and submit a statement to the company engaged in agreement in the prescribed format by 7th of every month. If a contractor does not meet the same, then the company shall be liable to comply with PF compliance.
Yes, if an employee desires to contribute an amount at a rate higher than 12 % of basic salary and D.A, then they can do so. However, it is not mandatory for an employer to contribute higher than the 12 % rate.
Frequently Asked Questions
In India, a minimum of two members (shareholders) are required to start a private limited company, and there can be a maximum of 200 members.
A private limited company should have a minimum of two directors to start a company. This director and shareholders can be the same or different person. However, as per the Companies Act 2013 at least one of the directors should be Indian residents.
No, you can start your private limited company from your own home or a rented place also. In such a case, the home will be treated as the registered office of your company. The only criteria for the same is that a place should be within the territorial boundaries of India.
Yes, your family members like your brother, sister, parents or any relatives can become a part of your company. The following people cannot be a part of the company: minor, criminally prosecuted, unsound mind, declared bankrupt.
No, if you are registering your company with us, then you only need to provide us with the required details, and within a period of 10 to 15 days, we will register your company in India.
No, we have a team of professionals that includes chartered account and company secretary who will take care of your registration process. You have to only provide us with the documents as per the list sent by the Legal Workmate team.
No, we have a team of professionals that includes chartered account and company secretary who will take care of your registration process. You have to only provide us with the documents as per the list sent by the Legal Workmate team.
Yes, one can incorporate a company even if he/she is an employee of any other organization both private or public. Further, if there are restrictions on not getting in any business by your company then you can appoint another person or relative as the director of the company.
Yes, one can incorporate a company even if he/she is an employee of any other organization both private or public. Further, if there are restrictions on not getting in any business by your company then you can appoint another person or relative as the director of the company.
In the Companies Act, there are no conditions on residency or citizenship to become a director. Hence, NRIs and Foreign Nationals can easily start and manage a private limited company in India. The only condition is there should be at least one Indian Director.
The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign documents electronically. DSC is required for all the shareholders and directors of the company.
No, you only need to open a bank account within 30 days and can deposit paid-up share capital within 180 days. However, you cannot start a business without depositing entire share capital in the company.
No, our team takes care of all your after registration compliance work in a trouble-free and smooth manner. Legal workmate provides you with all the mandatory compliance services at reasonable and scalable rates. For compliance work, we have an elite team of practicing professionals with different disciplines are associated with us.
Yes, a private limited company must hire an auditor, irrespective of the business done in the year. In case there is no business done, the auditor is still required to enter and maintain records. An auditor should be appointed within 30 days of incorporation. At Legal Workmate, our team also assists you with the process of appointing the auditor and maintain your books in a true and fair manner.
No, it is not mandatory to obtain GST registration. GST registration is required only if your turn over exceeds specific limits or you are engaged in making certain types of supply. For more details you can visit our GST registration tab or our knowledge portal.
Yes, the registered office of the company can be changed any time by filling a simple form with the registrar of the company.
A private limited company has to maintain its books of accounts, fill annual ROC, Income Tax form and get its books audited.