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The Employees Provident Fund (EPF) has been considered to be a social security scheme and indeed helps the employee to save a small portion of his salary for future financial benefits.
In this endeavor, it is mandatory for every company to offer its employees with Employees Provident Fund (EPF) which is quite similar to that of the retirement fund. Needless to mention, that the EPF comes under the preview and governance of the Employees Provident Funds and Miscellaneous Provisions act of 1952.
The ESI scheme was launched by the Government of India to offer medical support to employees working for an organization and managed by an autonomous body-The Employee State Insurance Corporation which is under the jurisdiction of the Ministry of Labor and Employment. Under the directives of the ministry, the ESI can be made available for a company with minimum employee strength of 10.
One needs to understand that, “One incorrect filing of taxes in the payroll can result in fines and also graciously put you in an awkward position”, and in order to avoid these embarrassments, the small, mid-sized, or large enterprise should engage a professional service provider to handle the regularities of PF and ESI who can seamlessly make the process quite simple and in turn enhance the workflow in an organization.
24efilling takes pride in having a well-experienced team of professionals who have the experience and expertise to work on your payroll and address the concerns of PF and ESI Returns Filing Services in Hyderabad & Bengaluru.