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EPF/ESIC Registration
EPF (Employee Provident Fund) and ESIC (Employee State Insurance Corporation) registration are essential labor-related registrations in India that employers need to obtain to comply with labor laws and provide social security benefits to their employees.
EPF/ESIC Registration
EPF (Employee Provident Fund) and ESIC (Employee State Insurance Corporation) registration are essential labor-related registrations in India that employers need to obtain to comply with labor laws and provide social security benefits to their employees.
EPF (Employee Provident Fund) Registration: EPF is a retirement benefit scheme provided by the government to employees in the organized sector. Under this scheme, both the employer and the employee contribute a certain percentage of the employee’s salary to a provident fund account. The accumulated amount can be withdrawn at retirement or during specific circumstances. Employers with 20 or more employees are required to register for EPF with the Employees’ Provident Fund Organization (EPFO). The registration involves submitting necessary documents and information related to the company and its employees.
ESIC (Employee State Insurance Corporation) Registration: ESIC is a social security scheme that provides medical benefits and cash compensation to employees in case of sickness, maternity, or employment injury. Employers with 10 or more employees (in some states, the threshold is 20 employees) are required to register for ESIC with the Employees’ State Insurance Corporation (ESIC). The registration process involves providing employee details and other relevant information.
Both EPF and ESIC registrations are crucial for employers to ensure compliance with labor laws and provide necessary social security benefits to their employees. These registrations contribute to the overall welfare and financial security of the workforce in the organized sector in India.
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