Factory Statutory Monthly Compliances are essential for maintaining legal adherence in industrial operations. These include timely payment of Provident Fund (PF), Employee State Insurance (ESI), Professional Tax (PT), Labour Welfare Fund (LWF), and compliance with the Factories Act, 1948. Regular filings, safety audits, and maintaining employee welfare ensure smooth operations and prevent legal penalties. Our expert services help factories manage their monthly obligations efficiently, ensuring compliance with all labour and industrial regulations while reducing administrative burdens.
ESI (Employees’ State Insurance) and EPF (Employees’ Provident Fund) statutory compliance refers to the mandatory monthly filing, contribution, and reporting that employers must adhere to under the respective laws.
All businesses with 10 or more employees (for ESI) and 20 or more employees (for EPF) must register and comply with these regulations.
The due date for EPF contributions is the 15th of the following month, while the ESI contribution must be paid by the 15th of the following month as well.
ESI is calculated as 3.25% of the employee’s gross salary by the employer and 0.75% by the employee, totaling 4%.
EPF is calculated as 12% of the employee’s basic salary plus dearness allowance, contributed both by the employer and the employee.
Non-compliance can result in penalties, interest charges, and legal actions, including fines and imprisonment.
Yes, employees can withdraw their EPF balance under specific conditions like retirement, unemployment, or medical emergencies.
ESI provides medical benefits, maternity benefits, disability benefits, and dependent benefits to employees and their families.
Employers can generate EPF challans through the Unified Portal of the Employees’ Provident Fund Organisation (EPFO).
Yes, businesses must comply with these regulations if they meet the eligibility criteria. Professional compliance services help ensure timely filings and avoid penalties.
Call Now Button
