Provident Fund/ Employee Provident Fund (EPF)
Employee Provident fund is the saving scheme and guided by Employee’s Provident Funds and Miscellaneous Provision Act, 1952. It was introduced to whole India except Jammu and Kashmir.
ESI (Employee State Insurance Corporation) Registration
ESI full form is Employee State Insurance Corporation which comes under the Ministry of Labour and Employment, the government of India. At present, the contribution of the employer 4.75% of the monthly salary of the employee and 1.75% of employee own monthly salary.
Employees’ State Insurance Scheme (ESIC) was introduced to protect the interest of workers in life uncertainties like permanent or temporary disability, good medical care, sickness, etc.
At present, this scheme is applicable to those establishments who give employment to 10 or more than employees in them. (But in Maharashtra and Chandigarh the limit of an employee is 20 or more). However, at present, this scheme is not applicable to Arunachal Pradesh and Lakshadweep.