EPF

Now a days all the companies who emplyees 10 or more employees should be covered under EPF ACT

Contributions
Employee Contribution
1) If Employee Basic (Basic means Basic + DA/VDA) is Lesser than 6500 12% on Employee Basic Salary is Mandatory If Employee Basic (Basic means Basic + DA/VDA) is more than 6500 There is option of exemption from PF & If management wishes to cover then employee shall be coverd under EPF Benefit Employee contribution shall be limited upto the basic of 6500 that is Rs 780/(Rs 780/- is 12% on 6500) OR Employee contribution shall be coverd on full basic no ceiling limit (Eg. If employee basic is 10,000/- then 12% on the basic is 1200/-) 1)

Employer Contribution

1) 2) 3)

1) 2) 3)

A) B) C)

EPF Forms & period of Submission

Form 2(revised) Form 5 It is nomination form and should be filled for every new joinee Should be submitted every month on or before 25th Details to be entered are name of new joinee, Fathers name Date of Birth and Date of joining Should be submitted every month on or before 25th along with Form 5 Details to be entered are name of leaving employee, Fathers name and Date of leaving Contribution details should be filled and to be submitted before 25th along with Form 5 & 10 and Payment challans pain in the bank 4 copies (Original, Duplicate, Traiplicate, Quarduplicate copies Should be filled the contribution details and should enclose cheque or DD for payment and remitted in the bank should be remitted and payment should be cleared before 15th Bank will retail original & duplicate copy & we should collect Triplicate & quarduplicate copy the same should be enclosed along with Form 5 & 10 and Form 12A It is annual returns of each and every employee At the end of every financial year the same should be filed along with Form 6

Form 10

Form 12A Payment Challan

Form 3A

Form 6

Form 6 should be filed on end of every year

EPF

ributions
Employer Contribution ( Company Contribution)
If Employee Basic (Basic means Basic + DA/VDA) is Lesser than 6500 12% on Basic Salary is Mandatory ( Equal Contribution of employee) If Employee Basic (Basic means Basic + DA/VDA) is more than 6500 If employer decides to cover employee under EPF act then even employer shall contribute Employer contribution shall be limited upto the basic of 6500 that is Rs 780/Same contrbution as of Employee (Rs 780/- is 12% on 6500) OR Employer contribution shall be coverd on full basic no ceiling limit (Eg. If employee basic is 10,000/- then 12% on the basic is 1200/-) Employer contribution shall be splitted into EPF (8.33%) and PF (3.67%) (if Employer contribtuion is above 780/- then 541 will go for Pension fund & balance for EPF) Apart from the contribution there are additional charges from employes 1.10% as Admin charges on total wages of Employee (Ac. No. 2) 0.5% as EDLI Charges on the contribution wages (Ac. No. 21) 0.01% as EDLI Admin Charges on the contribution wages (Ac. No. 22) or Minimum of 5Rs

ESI
Now a days all the companies who emplyees 10 or more employees should be covered under EPF ACT

Contributions
Employee Contribution
1) If Employee Gross Pay is Lesser than or equal to 15000 1.75% on Employee Gross Salary is Mandatory If Employee Gross Pay is above than 15000 he is not eligible for ESI Benefit 1)

Employer Contribution

EPF Forms & period of Submission

Declaration Payment challan Should be submitted with in 10days of joining Payment has to be be credited to account before 15th and challan has to be submitted Before 21st of every month to ESI Department It is Half Yearly returns of each and every employee it should be submitted before of 12th of May & November

Form 6

ESI

ributions
Employer Contribution ( Company Contribution)
If Employee Gross Pay is Lesser than 15000 4.75% on Employee Gross Salary is Mandatory If Employee Gross Pay is above than 15000 he is not eligible for ESI Benefit