ESI PF Registration consultants in chennai

Main concept of Employees' Provident Fund Organisation
• Main objective of the EPFO is make the salary salatry to save money for the future and also it gives sign of relief about their retired life.
• The working class always prebudjet their earning but sometime unexpected trajedies happens in those time EPF is handy.
• Epf is one the best schemes introduced by the government to make the salary class to saving as a habit.

PF REFUND
Apply refund for your Provindent Fund and it in one hour, only your Adhaar and mobile OTP is required to complete refund.

Employees' State Insurance Corporation registration consultants in chennai

Employees' State Insurance is a self-financing social security and health insurance scheme for Indian workers for their safety. The fund is managed by the Employees' State Insurance Corporation according to rules and regulations stipulated in the ESI Act 1948

There are around 151 ESI hospitals and 1570 dispensaries in india to take care of the working class, its important for any industry to register with ESIC for the health and safety of thier employees.

Advantages of ESIC
Besides protection against the medical expenses, the scheme provides and protects insured persons and his/her spouse for maternity benefits, hospitalization, surgery, unemployment benefits, disablement, injuries caused during the course of employment. Even in case of death of an insured employee.

EPF Withdrawal Eligibility

For Medical Purposes-

An employee is allowed to withdraw employee’s share with interest or six times the monthly salary (whichever is lower) from the provident fund for the purpose of medical treatment

This EPF withdrawal is applicable for medical treatments of self, spouse, children, and parents

There is no lock-in period or minimum service period for this type of withdrawal

For Repaying Home Loan

For the purpose of repaying the outstanding home loan, the PF member is allowed to withdraw up to 90% of the corpus if the house is registered in his or her name or held jointly

However, to withdraw the amount, at least 3 years of complete service is required

For Wedding

At least 7 years of service must be completed in order to be eligible for the withdrawal

50% of the employee’s contribution with interest can be withdrawn

An employee can withdraw funds for his own, siblings or child’s marriage

For Renovating and Reconstructing a House-

The employee can withdraw funds from his EPF account for the purpose of renovation and reconstruction

The house should be held in his/her name or held jointly with the spouse

The employee must complete at least 5 years of total service

The member can withdraw 12 times his monthly salary from his Provident fund account

For Purchasing or constructing a New House-

A PF member can withdraw a partial amount from his employee provident fund for the purpose of purchasing a plot and/or constructing it

The property should be registered in his or her name or held jointly with the spouse

An employee should have completed a minimum of 5 years of total service

24 times of the monthly salary for purchasing a plot/36 times of the monthly salary for purchasing or constructing a house or the cost of the property or the total of employee’s and his employer’s share along with the interest amount (whichever is less) can be withdrawn

Withdrawal is allowed only after completing 5 years of service

Withdrawal for the purpose of purchasing a plot and constructing it can be done only once in the entire service tenure

Retirement-

A person can withdraw his or her entire provident fund corpus after completing 58 years of age

The employee is allowed to withdraw up to 90% of the provident fund balance

Unemployment

A person can withdraw 75% of his or her provident fund if he/she is unemployed for more than a month

For unemployment of more than 2 months, the remaining 25% of the corpus can be withdrawn