Provident fund is a social security system that was introduced for the purpose of encouraging savings among employees, so as to benefit them during the course of their retirement. Contributions are made by the employer and the employee on a monthly basis. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions. All employers having PF registration are responsible to file returns on a monthly basis. The filing of returns must be completed by the 15th of each month through unified portal.

During the working tenure, employee and employer both contribute 12 percent of the basic salary of employee into EPF account. Employee's entire 12 percent goes into EPF account and Employer's 3.67 percent is transferred into EPF account of employee. Rest 8.33 percent from employer's side is diverted in Employees’ Pension Fund (EPF).

Voluntary Provident Fund (VPF) Voluntary Retirement Fund is the voluntary fund contribution from the employee towards his provident fund account. This contribution is beyond the 12% of contribution by an employee towards his EPF. The maximum contribution is up to 100% of his Basic Salary and Dearness Allowance. Interest is earned at the same rate as the EPF.

We offer comprehensive assistance, guiding you from initial advice to meeting all the essential requirements and compliance for your EPF compliance in overall.

Employee's State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers. ESI Registration is mandatory for employers having 10 or more employee. For all employees earning Rs.21,000 or less per month as wages, the employer must contribute 3.25% and employee must contribute 0.75% towards ESI. The ESI fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. HVJ can help you obtain ESI registration for your business.

ESI filings are done half yearly. However, before starting the procedure for filing the ESI returns, an organization (corporate entity) with 10 employees and more, irrespective of the salary mark, need to register under the ESI scheme.

We can aid with everything from providing advice in the beginning phase to ensuring that you meet all the necessary requirements and also keeping your organisation in good legal standing.