PF & ESIC Monthly Returns
PF & ESIC Monthly Returns :
PF and ESIC Monthly Returns refer to the periodic reporting and payment of Provident Fund (PF) and Employees’ State Insurance Corporation (ESIC) contributions by employers. These contributions are mandatory for all eligible employees in India, and are used to provide social security benefits to employees, including retirement benefits, health insurance, and financial assistance in case of unemployment or disability.
The following information is typically included in PF and ESIC Monthly Returns:
- 1] Employee Details: Information on the number of employees, their names, and their salary details.
- 2] Contribution Data: Details on the amount of PF and ESIC contributions paid by the employer and the employee for each eligible employee.
- 3] Payment Information: Information on the mode of payment (e.g. online, cheque, or cash) and the date of payment.
- 4] Challan Details: Information on the Challan (receipt) number generated for each payment, and the date of payment.
PF and ESIC Monthly Returns are typically submitted on a monthly basis, along with the payment of the contributions. Employers must ensure that the information provided in these returns is accurate and up-to-date, and that they comply with all applicable regulations. Failure to submit returns, or to provide accurate information, can result in fines, legal action, and penalties.