PF return is mandatory to fill monthly on or before 25th of every month, failure of which leads to Govt. penalties. Currently, employers and employees contribute 12 percent of basic wages each towards Employees Provident Fund Scheme (EPF), Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme (EDLI).
Employee includes contract, housekeeping, security or other contractual. However, one can also register on a voluntary basis with the consent of its employees to get benefit from this scheme.
ESI monthly payment has to be done before 21st of every month and ESIC return have to be completed before 11th May every year for period (November till April) and 11th of November every year for period (May till October).
The workers of any business are safeguarded by the Shop and Establishment Act, which regulates the terms and conditions of employment in commercial business. Under the Ministry of Labor, this act regulates overtime pay, working hours, opening and closing hours, intervals for rest, public holidays, paid leaves, maternity leaves, minimum wages etc.
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