Learn about EPFO & ESIC

Learn about EPFO & ESIC
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Learn about EPFO & ESIC

Lessons

  1. The Indian government established the Employees' Provident Fund Organisation (EPFO) as a statutory entity. Its primary goal as the nation's largest social security agency is to help people save money for retirement, among other things. Established in 1951, EPFO is governed by the Ministry of Labour and Employment.
  2. Employee contribution rate to EPF: 12% of Salary (Basic + DA Allowance) Employer contribution rate to EPF: 3.67% of Salary (Basic + DA Allowance) Employer contribution rate to EPS: EPF – EPS or 8.33% of Salary (Basic + DA Allowance) i.e. above Rs. 15,000 than Rs. 1,250
  3. DSC for EPFO streamlines all processes associated with the worker's PF transfer claim, regardless of whether they were previously employed by the company or not. To register a PF claim on the EPFO portal, one needs to use an EPFO digital signature, as per the guidelines on the CCA, Government of India website.
  4. The Employee's Provident Fund (EPF) is a program that was established by EPFO that allows both employers and employees to make salary contributions to the PF fund to accumulate funds for retirement. An establishment must first register on the EPFO Portal, which is run by the Indian government's Ministry of Labour & Employment, to contribute to the EPF Scheme.

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