State Insurance and Provident Fund

Provident Fund/ Employee State Insurance: For registration under both funds, almost same documents are required.So, following is an illustrative list of documents for your reference:

• 1. Shop and establishment Certificate/ GST Certificate/ License issued by the Government for factory/Articles of Association or Memorandum of Association
• 2. Company incorporation certificate/LLP registration certificate/ Partnership Deed
• 3. PAN Card of Proprietor/Partner/Director
• 4. Digital Signature Certificate of Proprietor/Partner/Director etc.
• 5. Aadhar Card of Proprietor/Partner/Director etc.
• 6. Cancelled Cheque/Bank Statements of the entity
• 7. PAN Card of the entity
• 8. Lease or rent agreement (if applicable)
• 9. Electricity Bill of the Registered Office (not older than 2 months)
• 10. Contact number and e-mail address of the entity. Besides the above requirements, any other specific documents can also be demanded by the authority as per the status of the organization or the situation of the case.

Registration process -The process of PF/ESIC registration has become an easy task since it has shifted from manual registration to online registration.

By following a few steps and verifying the testimonials, one can easily get registered in almost negligible time. Provident Fund: Now try to understand the process of PF registration

Step 1: The first step is registering an entity on EPFO portal. Visit the EPFO web portal for registering your entity. Select the option stating ‘Establishment Registration’ present on the home page of this unified portal.

Step 2: On clicking the ‘Establishment Registration’ option, the page will be redirected to the link https://registration.shramsuvidha.gov.in/user/register. Here on this link, there is a user manual available which you must download. This manual should be read thoroughly before registration if you are new to this process.

Step 3: After thoroughly reviewing this user manual, sign up on Unified Shram Suvidha Portal (USSP) of EPFO. The sign-up page of USSP will open when you click on the ‘Establishment Registration’ tab present on the home page. Then, click on the tab ‘Sign Up.’ On clicking the ‘Sign up button, you will be asked for your name, mobile number verification code, and email. Input all required details to create an account.

Step 4: Login to USSP and locate a tab stating ‘Registration For EPFO-ESIC v1.1’ situated on the screen’s left side. After this, choose an option displayed as ‘Apply for New Registration’ on the screen’s right side. You will find two options on clicking, namely, ‘Employees’ Provident Fund and Miscellaneous Provision Act 1952’ and ‘Employees’ State Insurance Act 1948.’ As an employer, you will have to select the option stating ‘Employees’ Provident Fund and Miscellaneous Provision Act 1952’ and then click the ‘Submit.’ On clicking the button stating ‘Submit,’ the page featuring ‘Registration Form for EPFO’ will be displayed. Here you need to input employment details, branch or division, contact persons, establishment details, activities and identifiers.

Step 5: Now the Last Step is attaching DSC: After filling out the above registration form and attaching all required documents, the employer’s Digital Signature Certificate needs to be uploaded and affixed on this form. The Unified Shram Suvidha Platform will email you to confirm that EPF registration has been successfully completed on uploading the DSC.

Employee State Insurance: Now try to understand the process of ESIC registration

Step-1– The first step to get registered is to sign up in the ESIC portal. Signing up is easy as it is the first thing that pops up when any new employee opens the portal. Once you sign up with the required details, the first step is completed.

Step- 2– After signing up with the required details, the employee will receive a mail on his registered mail id, confirming the username and password provided. This username and password is very important, and it will help you open the portal as long as you are working under the organization.

Step-3– After the completion of signing up on the portal, the employee can log in with the username and password provided in the mail. Once you log in, a new page will open where the ‘registration form’ will appear for a ‘new employee’. This is the registration form that confirms your registration with ESIC. While filling up a form for ‘new registration’, the employee has to state the details of the organization along with the details of the employer. Once all the required information is provided, the employee has to click on the ‘submit button to complete the registration form’s filling.

Step-4– An employee is registered under the ESIC scheme only after the advance amount paid for the next six months. By clicking on the ‘payment ‘option and successfully following the payment procedure, the registration process will be completed.

Step-5– At this last step, the employee will receive the c-11 letter, which is the registered letter containing his unique registration number of 17 digits. This registration is generated by the ESIC system portal, which ensures that the employee is successfully registered for the ESIC scheme. Hence let us understand about these terms as per Income tax perspective in relation to business expenditure As per Income tax perspective we should know that the amount that has been deducted from employee’s fixed monthly salary and the employer’s own contribution, which is deposited to the government as per norms as defined in the Act, when it will be allowed as a business expenditure and when it will not be allowed as a business expenditure.

Hence, to know about these in details we have to discuss about the following sections: 1. Section 43B(b) of Income Tax Act, 1961: As per this section, there are Certain deductions to be allowed only on actual payment, and one of them is, any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employee shall be allowed (irrespective of the previous year in which the liability to pay such sum was incurred by the assessee according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him : Provided that this section shall apply in relation to any sum which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return 2. Section 36(1)(Va) of Income Tax Act, 1961: As per section 36 of, in which there is a list of other deductions, and one of them is, any sum received by the assessee from any of his employees to which the provisions of sub-clause (x) of clause (24) of section 2 apply, if such sum is credited by the assessee to the employee’s account in the relevant fund or funds on or before the due date.