Both compliances require timely filing, accurate employee records, and adherence to due dates to avoid penalties.
π PF & ESIC β Essential Benefits Every HR & Payroll Professional Must Know!
Managing statutory compliances is a crucial responsibility in HR, and understanding PF & ESIC provisions ensures accuracy, transparency, and employee wellbeing.
Hereβs a crisp breakdown of the key points covered in the table π
β
PF (Provident Fund)
Applicable to establishments with 20+ employees
Mandatory for employees earning Basic + DA β€ βΉ15,000
Contributions: 12% employee + 12% employer
Includes Pension Scheme, EDLI, and Admin Charges
Benefits: Retirement corpus, pension, insurance
β
ESIC (Employee State Insurance)
Applicable to establishments with 10+ employees (varies by state)
Covers employees earning Gross Wages β€ βΉ21,000
Contributions: 0.75% employee + 3.25% employer
Benefits: Medical, sickness, maternity, disability & dependents benefits
π Both compliances require timely filing, accurate employee records, and adherence to due dates to avoid penalties.
This comparison helps HR teams ensure proper implementation, compliance readiness, and employee welfare.
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