Service Overview
Provident Fund, Professional Tax, and ESIC Compliance
i. Registration and monthly compliance
ii. Payroll processing with PF & ESIC deductions
Support for businesses in handling statutory employee benefit compliances—right from registration under PF, ESIC, and Professional Tax to ongoing monthly filings. Includes accurate payroll processing with necessary deductions and contributions, ensuring full compliance with labour laws and minimizing regulatory risks.
Frequently Asked Question
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1. What is Provident Fund (PF) and who needs to register for it?
The Provident Fund is a retirement benefit scheme regulated by the EPFO.
Registration is mandatory for businesses with 20 or more employees, and voluntary for smaller organizations. Both employer and employee contribute 12% of the employee's basic salary.
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2. What is ESIC and which businesses are required to comply?
The Employees’ State Insurance Corporation (ESIC) provides medical and cash benefits to employees.
Registration is mandatory for businesses with 10 or more employees (20 in some states) earning ₹21,000 or less per month. Employers contribute 3.25%, and employees contribute 0.75% of wages.
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3. What is Professional Tax and how is it paid?
Professional Tax is a state-level tax levied on salaried individuals and professionals.
Employers must:
Deduct PT from employee salaries based on state slabs
Register and pay monthly/quarterly to the respective state government
The rates and rules vary by state (e.g., Maharashtra, Karnataka, etc.).
