Hi,
Please advise me about what are the eligible criteria for the registration of EPF(Employees Provident Fund) and ESI(Employees State Insurance Corporation) for a private limited company.
Regards,
Sruthy
sruthy (article) (34 Points)
28 February 2023Hi,
Please advise me about what are the eligible criteria for the registration of EPF(Employees Provident Fund) and ESI(Employees State Insurance Corporation) for a private limited company.
Regards,
Sruthy
Kriti
(n/a)
(400 Points)
Replied 28 February 2023
Any establishment having more than 10 employees (in some states it is 20 employees) who have a maximum salary of Rs. 21,000/- has to register itself with the ESIC.. Under the Employee State Insurance (ESI) scheme, it has fixed the contribution rate of the employees at 0.75% of their wages and the employer's contribution at 3.25% of the wages for FY 2023-24.
EPF registration is mandatory for all establishments having 20 or more persons engaged in any industry. The interest rate applicable to the EPF contributions is 8.1% for FY 2022-23.