What is PF and ESI?

This document describes the rules for ESI and PF Deduction where ESI is Employee State Insurance (ESI) and PF is Provident Fund (PF). These are two social security schemes available to employees working in India.

Who is the employer in Epfo?

Employee Provident Fund (EPF) is a retirement benefit scheme maintained by the Employees’ Provident Fund Organization (EPFO). The employee and the employer contribute to the EPF scheme on monthly basis in equal proportions of 12% of the basic salary and dearness allowance.

What is ESI in salary?

The Employee State Insurance (“ESI”) is a contributory fund that has contributions both from the employer and employee and enables Indian employees to take part in a self-financed, healthcare, insurance fund. The scheme provides both cash benefits and healthcare.

How can I get my EPF employer ID?

Steps For EPF Registration for Employers

1. Step 1: Register Organization with EPFO. Visit the website and register the organization with EPFO.
2. Step 2: Read the User Manual.
3. Step 3: Register On USSP.
4. Step 4: Fill Registration Form.
5. Step 5: Attach DSC.

Who is eligible for PF?

EPF eligibility criteria If you are a salaried employee with a Basic + Dearness Allowance less than Rs. 15,000 per month, it is mandatory for you to be opened an EPF account by your employer.

Who are eligible for EPFO?

How does employer get KYC approval?

Following are the steps to submit & update employees KYC details in Employees Provident Fund Account:

1. Login to establishment unifiedportal-emp.epfindia.gov.in.
2. Select “Approvals” under Member tab on the left side of the page.
3. Select the option “DSC KYC” on the right side of the page.
4. Attach Digital Signature to the system.

What is washing allowance salary?

Client having Washing Allowance wage component in monthly regular salary is stored in Infotype 0008. The allowance amount is fixed @ Rs. 1000/- every month , No matter of employee’s grade and level.

How can I get my EPF employer username and password?

At the login screen of the Employer Portal, there is a link “Forgot Password?”, Click the link. You will get a pop up screen where you have to enter the establishment id. Then enter the user id or primary mobile number or primary e-mail id. On submit, you will get an SMS using which you can login.

Is EPF mandatory for employer?

EPF eligibility criteria 15,000 per month, it is mandatory for you to be opened an EPF account by your employer. Organizations with 20 or more employees are required by law to register for the EPF scheme, while those with fewer than 20 employees can also register voluntarily. If you are drawing a salary higher than Rs.

What is CTC and take home salary?

The CTC and take home salary of an employee vary as CTC is the sum total of direct benefit, indirect benefit and savings contributions. The direct benefit may include components such as basic salary, conveyance allowance, medical allowance, house rent allowance, communication allowance etc.

Is deducting PF over 15000 Mandatory?

For the PF deduction, the maximum limit of salary of the employee is Rs 15,000 per month. This means that even if the employee’s salary is above Rs 15,000, the employer is liable to contribute only on Rs 15,000 that is Rs 1,800. The statutory compliance for PF contribution has some less known facts associated with it.

Is it mandatory for employer to contribute in EPF?

An employer must contribute up to ₹1,250 towards Employee Pension Scheme, depending on the basic pay. The money contributed by an employer goes towards different schemes. Of the basic salary, about 3.67% goes towards EPF or for investments, and 8.33% goes towards Employee Pension Scheme (EPS).

What is salary of EPFO assistant?

This means the basic Salary of an EPFO assistant is Rs 25,500….EPFO Assistant Salary After 7th Pay Commission.

What is the minimum age required for EPFO?

30 years of
The Union Public Service Commission states that, aspirants desiring to sit for the EPFO exam, need to be under 30 years of age.

How can I get KYC approved without employer?

How To Update Bank KYC Without Approval From Employer

1. First of all , visit the Unified Member Portal .
2. Login by entering your UAN number, password and captcha code.
3. Click on the KYC option on the Manage tab.
4. Select the BANK option in the ADD KYC section.
5. Bank / Confirm Bank Account Number Enter your bank account number.

How do I get KYC digitally approved?

What are fully exempted allowances?

Certain categories of taxes are fully exempted such as allowances given to judges at the Supreme Court and the High Courts. Allowances such as house rent allowance are partially exempted as per Section 10(13A). Other allowances such as city compensatory allowance are fully taxable.