ESIC and EPF are social security schemes provided by the government of India. These schemes assist the employees in difficult times.
ESIC takes care of the employees in case there are any medical emergencies, gives benefits during maternity and also in case of unemployment. A very small amount is contributed every month by both the employer as well as employee.
EPF is a scheme that aims at inculcating the habit of saving among the salaried employees. Monthly contributions are made by the employer as well as the employee. These contributions along with the interest can be utilized by the employees during the tenure after the retirement. The expenses with retirement increase but there is no source of income. This amount plays a very important role in running a smooth life after retirement.
ESIC and EPF registrations are mandatory subject to certain conditions. If any organization is not compliant with the set norms and regulations will be liable for a penalty.
NAS Solutions has extensive experience in dealing with registration and monthly deductions. We can therefore assist every organization in Delhi, New Delhi in the entire process.