PF is one of the primary savings schemes for working class people in the government, public or private sectors in civilized India, the employee provident fund provides financial security in the foreseen future. Under the scheme, 12% of your basic, dearness allowance in addition to the cash value of your food allowances forms part of contributions to the respective individual’s EPF account. The EPF interest rate of India ranging from 8 to 12 % is decided by the central government and Central Board of trustees for the benefit of the workers.
Employees’ State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. The ESI is a self-financing social security and health insurance scheme for Indian workers. The employees whose earnings Rs.15,000 or less per month as wages, the employer contributes 4.75 percentages and employee contributes 1.75 percentages. Employees’ show more interest towards this scheme as it bears the wide range of benefits to the employees. It improves workers morale and retention by registering with ESI.
Audit Disciples can help your Company obtain and manage ESI Registration and its further detailed work.