16 January 2011
Can there be employment in more than 1 company simultaneously? I'm asking this to through a light on PF and ESI being deducted in all jobs I do. B'coz both jobs are in 2 diff. states so can I keep same PF & ESI account forever and shift it to any state i get transfer or migrate?
18 January 2011
thanks for your reply Mr. Singh. I just wanted to know whether I can continue using both the PF and ESI account simultaneously? Or is there anything like...I can tell my employer that I'm having my PF and ESI and wish to continue using it...so all the deductions would be done under these accounts.(no matter how many time I switch my job as well as city)
10 August 2024
Yes, it is possible to be employed in more than one company simultaneously, and PF (Provident Fund) and ESI (Employees' State Insurance) can be managed across multiple employers. Here’s how it works:
### **1. Employment in Multiple Companies**
#### **Provident Fund (PF):** - **Multiple Accounts:** - If you are employed with multiple companies, each company will generally open a separate PF account for you. - **However**, you can choose to consolidate your PF accounts with the EPFO (Employees' Provident Fund Organisation) if you wish to have a single account. - It’s advisable to keep track of all your PF accounts and ensure contributions from each employer are correctly accounted for.
- **Transfers:** - When you switch jobs, you can transfer your PF account balance from your old employer’s account to the new employer’s account through the EPFO’s transfer process. - You can also transfer your PF account when you move to a different state, as the PF account is linked to your UAN (Universal Account Number), which remains the same.
#### **Employees' State Insurance (ESI):** - **Multiple Accounts:** - Similar to PF, if you work in different companies that are covered under ESI, you will have a separate ESI account with each employer. - **However**, you should inform each employer about your existing ESI coverage if they are required to deduct ESI contributions.
- **Consolidation:** - Unlike PF, ESI accounts are not typically consolidated across multiple employers. Each employer will manage ESI contributions separately.
### **2. Managing PF and ESI Across Multiple Jobs**
#### **Provident Fund (PF):** - **Consolidation:** - You can consolidate multiple PF accounts into a single account using the EPFO portal. - This makes it easier to track and manage your PF savings.
- **Reporting:** - Make sure to update your UAN details with each employer to ensure that all your PF contributions are correctly linked to your UAN.
#### **Employees' State Insurance (ESI):** - **Multiple Contributions:** - ESI contributions are managed separately by each employer. If you have multiple jobs, you will have ESI contributions deducted from each job’s salary, but each will be managed separately.
- **Portability:** - ESI coverage is generally tied to the specific employer, so if you switch jobs, you will need to ensure that your new employer updates your ESI records and contributions accordingly.
### **3. Key Points to Consider**
- **Inform Employers:** - It’s important to inform your employers about your existing PF and ESI contributions if you’re working multiple jobs. This helps in avoiding issues like double contributions and ensures proper tracking.
- **Maintain Records:** - Keep accurate records of your PF and ESI contributions from all your employers. This helps in tracking your benefits and ensuring correct settlements.
- **Transfers and Claims:** - When you change jobs, initiate the transfer of your PF balance to your new employer’s PF account. For ESI, ensure your new employer enrolls you in their ESI scheme.
### **Summary**
- **PF:** You can have multiple PF accounts if you have multiple jobs, but you can consolidate these into a single account. PF contributions will be tracked under your UAN. - **ESI:** You will have separate ESI contributions for each employer. ESI accounts are not consolidated but must be managed separately for each job.
For precise information, especially concerning transfers and claims, always refer to the latest guidelines from EPFO and ESIC or consult with a professional advisor.
CAclubindia
