What Does It Mean by PF?

PF Stands for Provided Fund that aim is to provide monetary benefits to salaried individuals by saving a fraction of money on their salary every month, so that they can use them whenever they need money, whether they are no longer fit to work, temporarily, and at retirement. The process is supervised by the Employee Provident Fund Organisation of India. Any organizations that have more than 20 employees must have registered with the EPEO (Employees’ Provident Fund Organisation).

In this process, organizations deduct some amount of money from their employee's salaries and put them into their EPF account. The EPF money can be withdrawn by employees whenever they need money. This scheme is beneficial for employees for developing a corpus after their retirement.

What Is An ESI Return?

ESI (Employee State Insurance) is a Social Security Scheme and a health Supportive Insurance Plan. This scheme is for Indian employees in the organized sector that aim is to offer them a lifetime medical and disablement benefits on the contribution of a small amount while they are working. For this, employees and employers contribute a small amount of money. This scheme is registered under the ESI Act, 1948 and it is monitored by Employee State Insurance Corporation (ESIC).

ESI Returns is for employers or organizations. And, ESI registered businesses have to file ESI return file every month. The purpose of this scheme is to provide benefits to employees in the event of their sickness, death, disablement, injury, many more. ESI Returns are filed half-yearly and which can be done through the online. To file ESI returns online, login credentials are mandatory.

PF and ESI Return