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PF RETURN
ESIC RETURN

PF Return – An Overview

PF Return filing is mandatory for Organisations, Factories, Establishments every month on or before 25th. A provident fund has an objective to provide financial security and stability to employees.

Package Inclusions –

  • PF Return
  • File Your PF return before due date.
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What is PF Return? 

Employees Provident Fund is a retirement benefit scheme for all salaried people and this fund is maintained by Employees Provident Fund Organization of India (EPFO) and any company having 20 employees or more is required to register with EPFO.

During the working tenure, employee and employer both contribute 12 percent of the basic salary of employee into EPF account. Employee’s entire 12 percent goes into EPF account and Employer’s 3.67 percent is transferred into EPF account of employee. Rest 8.33 percent from employer’s side is diverted in Employees Pension Fund (EPF).

EPF Registration

EPF Registration is mandatory for companies/organizations having more than 20 individuals. Registration can be done online and offline both but preferably done with online mode

Benefits of PF Return Filing (Provident Fund) Return

There are different forms of benefits which can received from filing the PF return. The following are the benefits of filing the PF return:

  1. Welfare of the employee
  2. Compliance with law
  3. More social security
  4. Benefit related to taxation
  5. Medical Benefits
  6. Benefits of Insurance
Welfare of the Employees-

The employees will understand that the organisation values the welfare of the employees. This will increase the amount of employee welfare.

Compliance with Law-

Any company complying with the requirements of EPF will be benefitting from the scheme. Apart from this, the company would also remain transparent throughout the whole process of provident fund registration.

More Social Security-

Apart from having a secure system of social security, the whole process related to PF is managed by the Employee Provident Fund Organisation (EPFO). Such organisation regulates the entire process of PF registration. Hence complying with such systems makes the entire process hassle free.

Benefits of Insurance-

Any organisation which does not have some form of insurance would get the benefits of the Employee Deposit Linked Insurance Scheme (EDLI). Through this scheme employees can secure the benefits of insurance. For this 5% of the monthly contribution must be paid as a premium for this form of insurance to be applicable.

Medical Benefits-

An employee can withdraw specific amount of salary from this contribution which is equivalent to six times or the entire amount whichever is lesser for medical expenses during emergencies.

Benefits related to Taxation-

There are different forms of taxation benefits under this scheme. Such benefits can be enjoyed by both the employer and the employee.

What details have to be provided by the Employer?

Employer needs to provide following details along with EPF Form which can be downloaded from EPFO website

  • Name and address of the company along with head office and branch details
  • Date of Incorporation of company
  • Provide Details of employees (name, date of joining, salary, etc)
  • Business of the company
  • Director’s details
  • Banking details of the company
  • PAN details
What is the Procedure of Filing PF Return?

The process in which PF return has to be filed by the employer has to be in compliance with the requirements of the Unified Portal of PF filing. Any employer that is registered under the system of Employees Provident Fund System has to mandatorily consider filing the returns on time.

Form 2-Such form is utilised by the employer for a flagship scheme under the Employee Family Scheme utilised by the employee. For the above, Form 2 must be submitted along with Form 5. In this section both part A and part B must be filed as per the requirements.

Form 5- This is a monthly compliance and report which is required to be filed. Any employee who is newly enrolled in the systems related to provident fund.

Form 10- For any form of individual or employee who is not part of the organisation would be present under this form.

PF Annual Filing- By 30th April of every year, the annual returns for PF must be filed. This must be carried out through filing Form 3A and Form 6A.

Account Statement Filed Annually- Along with this, the EPFO has to send the annual account statement regarding the filings.

  • Copy of partnership deed (In case of partnership firm)
  • Certificate of Incorporation (In case of Private or Public Company)
  • Registration Certificate (In case of society)
  • PAN details of the company
  • Proof of Incorporation
  • Salary details of employees
  • Balance Sheet details

FAQs on PF Return

All employers who have PF registration are necessary to file returns on a monthly basis. The filing of returns has to be done by the 15th of each month through unified portal. During the working tenure, employee and employer both contribute 12 % of the basic salary of employee into EPF account.

The employers who have PF registration madatory file returns on a monthly basis. The filing of returns must be completed each month. The forms used for filing these returns are- Form 3A and Form 6A.

All employers having PF registration are responsible to file returns on a monthly basis. The filing of returns must be completed by the 15th of each month through unified portal. During the working tenure, employee and employer both contribute 12 percent of the basic salary of employee into EPF account.

The annual PF Return must be filed by the 30th of April in a given year

Yes, it is mandatory to have an EPF account by the employer for the employees who have a basic salary plus dearness allowance is up to Rs. 15,000. And those who are earning beyond Rs. 15,000 is not compulsory but may contribute voluntarily.

Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date every month.

ECR stands for Electronic Challan cum Return. It is an electronic monthly return to be uploaded by employers through the Employer e-Sewa portal. The approval of uploaded ECR will result in the generation of a Challan using which the employer has to remit the dues through online payment.

  • Step-1 Log in to UAN portal and enter UAN number and password
  • Step-2 Click on to Tab ‘Manage’ and select KYC to check the details such as Aadhar, PAN and Bank details are verified or not
  • Step-3 Once the details get verified, click on to Tab ‘Online services and select option ‘Claim Form- 31, 19 and 10C
  • Step-4 Enter the last 4-digit of your bank account and click on to ‘Verify’
  • Step-5 Click on to ‘Proceed for Online claim’
  • Step-6 Select the required claim and select PF Advance Form-31 to withdraw the fund

To correct the ECR, u need to write to the Regional PF Commissioner (PF). Meanwhile, you can be in touch with the dealing head of your PF code as system provides the option to cancel your ECR in his system. Once cancelled by the dealing hand, you can provide the corrected details in soft copy and I.T.

Suppose (Basic Salary + Dearness Allowance) = Rs 50,000 monthy. Now the contributions of the employee and the employer are made. Employee’s contribution towards EPF = 12% of Rs 50,000 = Rs 6000. Employer’s contribution towards EPS = 8.33% of Rs 50,000 = Rs 4165

ESI Return – An Overview

ESI Return Filing by the Factories, Establishment owners to Employee State Insurance body for the workers working in their factories, establishments to provide them social security and medical health benefits..

Package Inclusions –

  • ESI Return
  • File Your ESI Return before due date.
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What is ESI Return?

Employees’ State Insurance (ESI) is self-financing social security and health insurance scheme for the Indian Workers, which is an autonomous corporation governed by Ministry of Labour and Employment. This Fund of ESI is managed by Employee State Insurance Corporation (ESIC) and its rules regulations. All entities registered under ESI registration must file ESI returns which is due half yearly.

Applicability of ESI

The ESIC is applicable on all the establishments having 10 or more workers and is beneficial to all the employees earning Rs.15, 000/- or less per month as wages, employer must contribute 4.75 percent and employee must contributes 1.75 percent towards ESI.

Benefits of ESIC

THE Employees registered under ESIC are entitled to medical treatment for themselves and their dependents, unemployment cash benefits and maternity leaves for women employees.

Medical Benefits                   

One of the main objectives of taking this form of registration is medical benefits to employees and workman. If any sickness or other contingency is experienced by workforce, then the same can be availed immediately by an affected worker.

Social Security

The ESI registration scheme was brought out as a social security provided by the government. Through this scheme, social security features such as maternity benefits, sickness allowance and other related benefits are provided.

Easy Processing

Benefits under this system can be availed easily at any hospital or health care centre. All payments which are used under this system can be compensated.

Benefits related to Sickness

Through the ESIC registration, all employees would be offered different form of sickness benefits. These benefits are offered at a rate of 70% of the salary of the employer. This amount would be considered and provided if the sickness extends over three consecutive months or 90 days.

Maternity Benefits

Every organisation taking up this scheme would have to provide maternity benefits such as maternity leave during pregnancy.

Disability Benefits

Disability Benefits are also covered as a part of this scheme. In an unforeseen event in a permanent disability or the death of the employee, this can be claimed by the dependants of the employee.

How to file ESIC return?

Following points need to be considered for ESI Return:

  • Log in Employer Portal using 17 digit Employer digit code. This code is provided to the company when registering under the ESI rules. When the 17 digit registration number is received by the company, the ESI filing process can be easily carried out.
  • Go to monthly contribution section. Before considering this, the employer or factory must make sure that all the information related to the employees are updated before filing the returns.
  • All the details of the employer contribution will be displayed.
  • Verify the details. After this enter bank details and go to submit the monthly employee return.
  • If there are any short payments in respect of employees then complete the dues.
  • Do Self Certification under monthly contribution section, then check mark the declaration and submit the return.
Documents Required to File ESI return

The following documents are required to file ESI return

 

    • Registration Certificate or the respective license which is obtained under the Shops and Establishments Act.
    • If this is a company registered under the provisions of the Companies Act, 2013 then the certificate of incorporation must be provided
    • The Memorandum of Association and Articles of Association also must be provided along with the other documents
    • If the entity is a partnership company, then the copy of the respective trust deed must be provided.
    • If the entity is a factory, then the certificate of commencement of work in the factory must be provided.
    • Information on the employees of the establishment or the factory
    • Information on the monthly contribution of the employees of the factory or the entity
    • A detailed list of all the directors, shareholders and partners of the company
    • Permanent Account Number (PAN) of the Establishment or the Entity
    • Respective Bank Statement of the Organisation
    • Register of Form- 6
    • Wages Registry
    • Address of the premises and other information related to the premises
    • Inspection Book and Certificates
    • Attendance registers of the Company

FAQs on ESI Return

ESI registered businesses have to file ESI returns on monthly basis. It is governed under the ESI Act, 1948; ESIC (Employees’ State Insurance Corporation) which provides benefits to employees in the event of their sickness, death, disablement, injury, etc

ESI Return contributions have to be filed within 42 days of termination of contribution period. Payment of contribution shall be made within 21 days of the last day of a calendar month. These returns must be filed half yearly

It is mandatory for employer has to submit half-yearly Return of Contributions (RC) by 11th May/11th November every year with all columns properly filled. An employer will apply in Form-01 for coverage under the ESI Act, within 15 days after the Act becomes applicable to a factory or establishment

The ESIC Return is filed on the half-yearly basis which means the ESIC return is required to file on or before 11th May and 11th Nov.

One can check the ESIC status by visiting to website ‘Portal Application ESIC’. A window of Employee’s portal is displayed. The user has to fill his ESIC insurance number i.e. IP number to know the status.

No, one cannot withdraw an ESI amount but we can avail the benefits of ESI. One can take medical facilities through the ESIC card. There is no provision of withdrawal of contributed ESI money in India.

Visit to the website www.esic.in then click on to ESCI Challan payment. Then enter the Employer code and displayed captcha. After it one can check the ESIC paid Challan.

The ESI scheme is applicable to all factories and other establishments and is mandatory as defined in the Act. When 10 or more persons employed in such establishment and the beneficiaries on the monthly wages does not exceed Rs 21,000 are covered under this scheme.

All employees are covered whose monthly income (excluding overtime, bonus, leave encashment) is less than Rs. 21,000 per month, are eligible to avail benefits under the Scheme. But employees earning daily average wage up to Rs. 176 are exempted from ESIC contribution

ESI has their own Dispensaries and Hospitals to cater the Insured Persons. Therefore, ESIC Policy do not encourage outside treatment and reimbursement. In selected cases and conditions which cannot be treated under ESIC Infrastructure they allow for cashless treatment at outside Private Hospitals.

Yes, it is the statutory responsibility of the employer under Section 2A of the Act to register their Factory/ Establishment under the ESI Act within 15 days from the date of its applicability to them.

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