Understanding your eligibility is the first step towards compliance.

• For PF (EPFO): Businesses with 20 or more employees (or 10 or more in certain industries as notified by the government) drawing wages up to ₹21,000 per month are generally eligible for mandatory registration. Specific industries and sectors like factories, shops, hotels, and educational institutions are typically covered.
• For ESIC: Establishments employing 10 or more employees (or 20 or more in some states, depending on notification) drawing gross wages up to ₹21,000 per month (₹25,000 for persons with disability) are generally eligible. Similar to PF, various specific industries and sectors are covered under ESIC. Taxwale Consultants can help you accurately determine your eligibility based on your business type, employee count, and location.

Registering for PF and ESIC offers a dual advantage of statutory compliance and significant employee welfare benefits.

• • Employee Retirement Savings (PF): Secure your employees’ future by contributing to their individual PF accounts, fostering loyalty and long-term commitment.
  • Comprehensive Health Coverage (ESIC): Provides extensive medical benefits for employees and their families, including access to quality medical care at ESIC hospitals and dispensaries, covering sickness, maternity, and more.
  • Financial Support during Contingencies (ESIC): Offers financial assistance through schemes like the Maternity Benefit Scheme, Disablement Benefit Scheme, and Dependents’ Benefit Scheme for unforeseen circumstances.
  • Reduced Financial Burden on Employers: Both schemes involve shared contributions, and ESIC specifically can lead to lower absenteeism and increased productivity due to improved employee health.
  • Tax Benefits: Both employers and employees enjoy tax benefits on PF contributions, and employer contributions to ESIC are also tax-deductible, making these benefits cost-effective.
  • Compliance & Risk Mitigation: Ensures adherence to legal requirements under the EPFO and ESIC Acts, avoiding penalties, interest charges, and potential legal repercussions for non-registration or non-compliance.
  • Portability Across Jobs (PF): Employees can easily transfer their PF account upon changing jobs, safeguarding their retirement savings continuity.

• Taxwale Consultants streamlines the entire PF and ESIC registration process for you:

  1. Initial Consultation & Eligibility Assessment: We start by understanding your business and employee structure to confirm your exact registration requirements for both EPFO and ESIC.
  2. Document Collection & Verification: Our team assists you in gathering and verifying all necessary documents for both registrations, ensuring they meet the respective portal requirements.
  3. Online Account Creation & Form Filling: We create accounts on the official EPFO and ESIC e-filing portals and meticulously complete all online Employer Registration Forms (e.g., Form 5A/Form 1 for EPFO and Form 01 for ESIC).
  4. Digital Signature Certificate (DSC) Assistance: We guide you through the process of obtaining or linking a valid DSC, which is essential for online application submission.
  5. Document Upload & Submission: We upload all required documents securely to the respective portals and submit the completed applications.
  6. Payment of Initial Contributions/Deposits: We guide you in making the necessary initial contribution payments online through the designated banking platforms.
  7. Follow-up & Liaison with Authorities: Taxwale Consultants handles all communication and follow-up with EPFO and ESIC authorities on your behalf, addressing any queries or requests for further clarification/documents.
  8. Receipt of Registration Letters & Codes: Upon successful registration, we ensure you receive the Establishment Code (for EPFO) and the Registration Letter (C-11 for ESIC) along with login credentials for both portals.
  9. Employee ID Card Issuance (PF): We assist in the process of issuing PF account ID cards or UANs to all registered employees.

To facilitate smooth registration for both PF and ESIC, you will typically need the following documents:

• PAN card of the establishment/company
• PAN cards of all eligible employees
• Cancelled cheque of the company’s bank account (showing company name and IFSC code)
• List of directors/partners/proprietors/shareholders
• Employee attendance register / Employee muster roll
• Salary/wage register and payroll details
• Company registration documents (e.g., Certificate of Incorporation, Partnership Deed, LLP Agreement, Shop & Establishment Certificate)
• Proof of address of the establishment (e.g., electricity bill, rent agreement)
• Digital Signature Certificate (DSC) of the authorized signatory
• Aadhaar cards of employees (for UAN generation in PF)
• Any other documents as required based on specific business circumstances or authority requests.

Once registered, your journey with PF and ESIC continues with ongoing compliance.

• Regular Return Filing: Both EPFO and ESIC require regular (monthly for PF, half-yearly for ESIC) filing of returns. Taxwale Consultants provides ongoing support for these compliances.
• Payment of Monthly Contributions: Timely deposit of monthly contributions (employer and employee shares) is critical.
• Maintaining Employee Records: Accurate and updated employee PF and ESIC records must be maintained.
• Employee Access to Accounts: Employees can access their PF account details through the EPFO online portal (UAN) and ESIC benefits through the ESIC portal/dispensaries.

Taxwale Consultants offers comprehensive post-registration compliance services to ensure your business remains fully compliant with both PF and ESIC regulations.