ALL IN ONE PRACTICAL ACCOUNTANCY COURSE
EPF & ESI
Email id – tallyhomeagra@gmail.com, mobile number for WhatsApp only - 7252033025
YOUTUBE CHANNEL - TALLY HOME & INSTITUTE
BRIEF ON EPF ( EMPLOYEES PROVIDENT FUND)
✓ The provident fund is a social welfare scheme for benefits of the employees.
✓ The main focus is to provide the saving benefits & income after retirement of the employees.
✓ Under the EPF acts 1952 both the employer & employee contribute their share of the amount but the whole of
the amount Is deposited by the employer.
✓ The employee contribution is deducted from the employee salary by the employer.
✓ Organization with 20 or more employees are required by law to register for EPF Scheme within one month of
attending the minimum strength of 20 employees.
✓ Small organizations which do not have minimum strength can register themselves voluntarily.
✓ If an employee drawing salary more than 15000 per month , it is not mandatory for that employee to become a
member of EPF Scheme.
✓ The contributions by the employees as well as the employer is maximum on the wages of Rs. 15000/ month
✓ This contribution is split in three parts
EPF ( employees provident fund)
EPS ( employees pension scheme)
EDIL ( employees deposit insurance linked scheme)
EPF Return filling and payment can be both done at the same time. Hence, the EPF return due date is the same as
that of payment. I.e., on or before 15th of every month.
CONTRIBUTION RATES FOR EMPLOYERS & EMPLOYEES
BRIEF ON ESI ( EMPLOYEES STATE INSURANCE)
✓ ESI is a social security scheme that provides all the medical benefits for self &
their dependents, which is allowable from the the day first of insurable
employment.
✓ The ESI scheme is applicable to all factories and other establishments as defined
in the Act with 10 or more persons employed in such establishment
the beneficiaries’ monthly wage does not exceed Rs 21,000 are covered under
the scheme.
✓ The employee contribution is deducted from the employee salary by the
employer.
✓ the employer & employee contribute their share of the amount but the whole
of the amountIs deposited by the employer.
ESIC Return filling and payment can be both done at the same time. Hence, the ESI return
due date is the same as that of payment. I.e., on or before 15th of every month.
CONTRIBUTION RATES FOR EMPLOYERS & EMPLOYEES
