FAQs on EPF and ESIC Registration
To apply for the ESI, you need to check the eligibility criterion and then visit the http://www.esic.nic.in/ and fill Form No-1.
You cannot get PF amount in the ESI account because PF is a monetary fund to help employees in unemployment period and retirement; whereas ESI is meant for meeting social securities namely health and insurance for the family and employees.
EPF is as good as a savings account maintained for the employees and he can get details of the amount deposited to the EPF account over the period of time and interest accrued.
However, ESIC is equivalent to insurance premium paid for medical benefits. Amount paid to ESIC account is not refundable to the employee.
ESI scheme is set to cater the health and insurance needs of the employees and is funded by the employees and the employer. For this purpose, registration with the government is required which is called ESI registration.
Log in to your registered account on the EPF website and click on the downloads which are at the top of your account. A dropdown list will appear and choose EPF certificate, your PDF version will be generated.
The contributors in PF and ESIC are the employer and employee in a predefined ratio.
EPF:-The employer and employee both contribute 12% each of the employee’s salary (basic + dearness allowance) to the EPF. However, in case an establishment opt for EPF registration voluntarily then 12% reduces to 10%.
ESIC:-Currently, the employee’s contribution rate (w.e.f. 01.07. 2019) is 0.75% of the wages and that of employer’s is 3.25% of the wages paid/payable in respect of the employees in every wage period. Employees in receipt of a daily average wage upto Rs. 137/- are exempted from payment of contribution.