Employee State Insurance, or ESI, is a government-run programme that provides workers with medical, monetary, and other benefits. Employees' Provident Fund, on the other hand, is a social security scheme that allows employees to save a percentage of their wage for future benefits. Companies complete PF ESI common registration during the on-boarding of new employees. A company with 20 or more employees is required by law to join the EPF programme within one month of meeting the minimum employee requirement. ESI Registration is often completed when an employer hires more than 10 employees, however it is also applicable to employees with lower incomes. According to the act, all employees with monthly incomes of Rs. 15000 or less must contribute 0.75 percent of their pay to ESI and the company must contribute 3.25 percent.
Employers must register with the ESIC Portal. They can do so by logging into the ESIC portal and selecting the 'Sign Up' option under the 'Employer Login' option on the main screen. Employers must complete the form after selecting the 'Sign up' button.
After completing the portal registration application, the employer will receive an email confirmation of the email address and mobile number provided during registration. The email will give the login details needed to register as an ESIC employee or employer.
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According to the EPF Act, any business with 20 or more employees is required to enrol in the EPF Scheme. Businesses with fewer than 20 employees, on the other hand, may register voluntarily.
Deducted EPF (i.e., employer and employee contributions) is placed in a pre-determined proportion in the employee's pension account and EPF account.
To be eligible for the ESI Scheme, the employee's or workers monthly wage must not exceed INR 21,000 for non-disabled individuals and INR 25,000 for disabled individuals.
From the first day of his or her insurable employment, the employee covered and his or her family are entitled to medical benefits.
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