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What is PF ESIC?
Employees’ State Insurance Corporation (abbreviated as ESIC) is one of the two main statutory social security bodies under the ownership of the Ministry of Labour and Employment, Government of India, the other being the Employees’ Provident Fund Organisation. The Employees’ State Insurance Corporation (ESIC) manages the fund according to rules and regulations stipulated in the ESI Act 1948.
Employees’ State Insurance Corporation (ESIC), established by ESI Act, is an autonomous corporation under the Ministry of Labour and Employment, Government of India. As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government. It can acquire movable and immovable property, and all incomes from the property shall vest with the corporation. The corporation can set up hospitals independently or in collaboration with state government or other private entities, but concerned state governments run most dispensaries and hospitals.
PF ESIC Registration Process:
PF ESIC registration in Lucknow is a very clinical process and requires a lot of associated work. Therefore, it’s best to appoint a professional who would handle all the legalities perfectly.
For all employees earning ₹21,000 (US$260) or less per month as wages, the employer contributes 3.25%, and the employee contributes 0.75%, a total share of 4%. The ESI Corporation manages this fund (ESIC) according to rules and regulations stipulated in the ESI Act 1948, which oversees providing medical and cash benefits to employees and their families. ESI scheme is a social security scheme for employees in the organized sector.
Applicability of the ESI scheme:
The ESI scheme applies to all factories and other establishments as defined in the ActAct with ten or more persons employed in such establishments, and the beneficiaries’ monthly wage does not exceed Rs 21,000 are covered under the scheme. Whether the employer has employed ten or more employees, all employees employed by the employer, agnostic of the salary, are reckoned.
PE ESIC registration in Lucknow would have the same applicability scheme reckoned without any doubt.
Applicability of EPF Registration for Employers:
EPF registration is mandatory for all establishments- A factory engaged in any industry having 20 or more persons and To any other establishment employing 20 or more persons or class of such establishments which the Central Government may, by notification, specify on this behalf. Central Government may apply for any establishment employing less than 20 employees after giving at least two months’ notice for compulsory registration. Where the employer and majority of employees have agreed that the provisions of this Act Act should be made applicable to the establishment, they may apply to the Central PF Commissioner. The Central PF Commissioner may apply the provisions of this Act Act to that establishment after passing the notification in the Official Gazette from the date of such agreement or any subsequent date specified in the agreement. Some establishments with less than 20 employees would also be required to obtain PF registration, but that is voluntary. All the employees will be eligible for a PF from the commencement of their employment, and the responsibility of deduction & payment of PF lies with the employer.
Documents Required for ESI and PF ESIC Registration.
PF ESIC registration in Lucknow would require the following documents:
Benefits of PF ESIC Registration:
As per section 46 of the ESI Act, 1948, six benefits are envisaged for its subscribers.
The employees registered under the scheme are entitled to medical treatment for themselves and their dependents, unemployment cash benefits in certain contingencies, and maternity benefits for women employees. In case of employment-related disablement or death, there is a provision for a disablement benefit and a family pension, respectively.: 67 Outpatient medical facilities are available in 1418 ESI dispensaries and through 1,678 registered medical practitioners. Inpatient care is available in 145 ESI hospitals and 42 annexes with 19,387 beds. In addition, several state government hospitals also have beds for the exclusive use of ESI Beneficiaries. The benefactor can avail of cash benefits in any 830 ESI centers throughout India.
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