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Hi, I am 80 years' old. I am eligible for job in PVT. Limited company and what is the PF & ESI rules. Please let me now if possible.

The Provident Fund (PF) and Employees' State Insurance (ESI) are two important social security schemes that are applicable to most private jobs in India.
The PF scheme is a retirement savings scheme, while the ESI scheme provides health insurance and other benefits to employees.

The PF and ESI rules for private jobs are as follows:

PF:-
The PF contribution rate is 12% of the employee's basic salary. The employer also contributes 12% of the employee's basic salary to the PF scheme. The PF contribution is capped at Rs. 1,800 per month.

ESI:-
The ESI contribution rate is 0.75% of the employee's wages. The employer also contributes 3.25% of the employee's wages to the ESI scheme. The ESI contribution is capped at Rs. 21,000 per month.


Eligibility:-
The PF and ESI schemes are applicable to all employees of a covered establishment, whose monthly incomes (excluding overtime, bonus, leave encashment) does not exceed Rs. 21,000 per month. Employees earning daily average wage up to Rs. 176 are exempted from ESIC contribution. However, employers will contribute their share for these employees.

If you are employed in a private job, you should check with your employer to see if you are covered under the PF and ESI schemes.

If you are covered, you will be required to contribute to the schemes. The contributions will be deducted from your salary and remitted to the PF and ESI authorities by your employer.

The PF and ESI schemes are important social security schemes that can provide you with financial security in your old age and in case of illness.

What are PF and ESI rule for private jobs?

PF (Provident Fund) and ESI (Employee State Insurance) are two social security schemes mandated by the governm

Provident Fund (PF):

PF is a retirement savings scheme for employees in India.
Both the employer and employee contribute a certain percentage of the employee's salary towards the PF account.

Employee State Insurance (ESI):

ESI is a health insurance and social security scheme for employees.
It provides medical benefits, including medical treatment, maternity benefits, disability benefits, and more.

Employee Provident Fund (EPF):

Eligibility: Establishments with 20 or more employees are required to register for EPF. It is mandatory for employees with a monthly salary of up to Rs. 15,000 to contribute to the EPF scheme.
Contribution: Both the employer and employee contribute to the EPF. The current contribution rate is 12% of the employee's basic salary plus dearness allowance.

Employee State Insurance (ESI):

Eligibility: Establishments with 10 or more employees in certain specified industries are required to register for ESI. Employees with a monthly salary of up to Rs. 21,000 are eligible for ESI coverage.
Contribution: Both the employer and employee contribute to the ESI scheme. The current contribution rates are 0.75% of the employee's wages for ESI and 3.25% for the employer.

In India, the Employees' Provident Fund (EPF) and Employees' State Insurance (ESI) are two important social security schemes for private sector employees.

1. Employees' Provident Fund (EPF):
The EPF is a savings scheme designed to provide financial security and stability to employees after their retirement. The main rules associated with EPF are:
- Both the employer and the employee contribute a certain percentage of the employee's salary (12% of basic wages, dearness allowance, and retaining allowances) towards the EPF.
- The EPF contribution is made on a monthly basis.
- The EPF amount can be withdrawn by the employee either at the time of retirement or after a specified waiting period if certain conditions are met.

2. Employees' State Insurance (ESI):
The ESI scheme provides social security and health insurance to employees. The key features of ESI are as follows:
- Both the employer and the employee contribute a certain percentage of the employee's salary (currently 4.0% of the employee's wages) towards the ESI.
- The ESI covers medical, cash, maternity, disability, and dependent benefits for insured individuals and their dependents.
- Employees earning wages up to a specified limit (currently INR 21,000 per month) are eligible for the ESI scheme.

The PF and ESI rules for private jobs in India are as follows:

* Provident Fund (PF): The PF is a retirement savings scheme that is compulsory for all employees who are earning less than Rs. 15,000 per month. The employer and employee contribute an equal amount of 12% of the employee's salary to the PF account. The PF account can be used to withdraw money for retirement, medical emergencies, education, and other purposes.
* Employee State Insurance (ESI): The ESI is a social security scheme that provides benefits to employees in case of sickness, maternity, disablement, and death. The ESI is compulsory for all employees who are earning less than Rs. 21,000 per month. The employer and employee contribute an equal amount of 4% of the employee's salary to the ESI account. The ESI account can be used to claim benefits such as medical treatment, cash benefits, and pension.

Here are some additional details about the PF and ESI rules for private jobs:

* Employer registration: Employers with 20 or more employees are required to register for PF and ESI. Small organizations with less than 20 employees can register voluntarily.
* Contribution rates: The PF contribution rate for employees is 12% of the salary, and the employer contribution rate is also 12%. The ESI contribution rate for employees is 0.75% of the salary, and the employer contribution rate is 3.25%.
* Deduction and payment: The PF and ESI contributions are deducted from the employee's salary every month and paid by the employer to the respective authorities. The due date for PF contribution is the 15th of every month, and the due date for ESI contribution is the 15th of the following month.
* Benefits: The PF account can be used to withdraw money for retirement, medical emergencies, education, and other purposes. The ESI account can be used to claim benefits such as medical treatment, cash benefits, and pension.

PF (Employee Provident Fund) and ESI (Employee State Insurance) are social security schemes in India that provide financial and medical benefits to employees working in the private sector. Here's a brief overview of the rules and regulations related to PF and ESI for private jobs:

1. Employee Provident Fund (EPF):
- Eligibility: EPF is applicable to establishments with 20 or more employees.
- Contribution: Both the employee and the employer contribute 12% of the employee's basic salary plus dearness allowance to the EPF account.
- Calculation: The contribution is calculated on the employee's basic salary and dearness allowance.
- Withdrawal: Employees can withdraw their EPF balance after retirement, resignation, or after remaining unemployed for a specific period.
- Universal Account Number (UAN): Employees are assigned a UAN that acts as a unique identifier for their EPF account.

2. Employee State Insurance (ESI):
- Eligibility: ESI is applicable to establishments with 10 or more employees in specified industries or areas.
- Contribution: Both the employee and the employer contribute to the ESI fund. The employee's contribution is 0.75% of their monthly wages, while the employer's contribution is 3.25% of the employee's wages.
- Calculation: The contribution is calculated on the employee's gross salary.
- Benefits: ESI provides medical benefits, including healthcare services, maternity benefits, disability benefits, and more to covered employees and their dependents.
- ESI Registration: Employers need to register their establishment under the ESI Act and obtain an ESI Code.

It's important to note that the rules and rates for PF and ESI may be subject to change, and it's advisable to refer to the official websites of the Employees' Provident Fund Organisation (EPFO) and the Employees' State Insurance Corporation (ESIC) or consult with the respective authorities for the most up-to-date and accurate information.

Employers have the responsibility to ensure compliance with PF and ESI regulations, including the timely deposit of contributions and filing of necessary returns. Employees should also be aware of their rights and entitlements under these schemes.

Effective February 23, 2020, mandatory EPF/ESI registration is required for companies/entities when a company has 20 or more employees. A company that reaches the minimum hurdle of 20 employees must register within one month of reaching that level .