#ESIC registration procedure

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An In-Depth Overview of EPF and ESI Act Registration Services Benefits

The Registration Process EPF Registration:

Organizations with 20 or more employees must register under the EPF Act. This process entails submitting essential documents, including business information, employee details, and salary structures, to the EPF Organization (EPFO).

ESI Registration:

Likewise, companies with 10 or more employees in specific states are mandated to register under the ESI Act. This registration requires the submission of company details, employee information, and wage data to the Employees' State Insurance Corporation (ESIC).

Documentation and Filing:

Both registration processes necessitate precise documentation and timely contribution submissions. Utilizing professional EPF and ESI Act Registration Services ensures that all procedures are executed accurately, reducing the likelihood of errors and non-compliance.

Benefits of Engaging Professional EPF and ESI Act Registration Services

Expert Guidance:

Professional services offer specialized guidance throughout the registration process, ensuring compliance with all legal requirements without complications.

Time and Cost Efficiency:

Delegating the registration tasks to professionals conserves time and resources, enabling businesses to concentrate on their primary operations.

Ongoing Compliance Support:

These services frequently provide continuous assistance to help businesses maintain compliance with EPF and ESI regulations, including the timely submission of returns and necessary updates.

Conclusion: Utilizing EPF and ESI Act Registration Services is crucial for any organization that prioritizes legal compliance and employee welfare. By ensuring accurate registration and ongoing adherence, companies not only meet their legal responsibilities but also deliver significant benefits to their employees, fostering job satisfaction and loyalty.

For businesses aiming to simplify this process, professional registration services provide the expertise and support required to effectively navigate the complexities of EPF and ESI regulations.

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Esic Registration Online | Taxsevakendra.in

Taxsevakendra.in offers hassle-free online ESIC registration. With efficiency and compassion, our knowledgeable professionals will lead you through the procedure. Go ahead and start today!

esic registration online

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Online Procedure for GST Registration in Ghaziabad

Following is the step-by-step online procedure for Gst Registration in Ghaziabad:

Step 1: DSC & DIN: Your 1st step in the process of Gst Registration is obtaining DSC & DIN. DSC or Digital Signature Certificate serves as an electronic medium for signing digital documents. DSC is also mandatory for the subscribers of the charter documents like MoA & AoA. Whereas, DIN establishes the identity of a Director and it is assigned to a single Director & it helps service various purposes. DSC & DIN can be secured through the SPICe+ Form and this form refers to an e-application for Gst Registration.

Step 2: File an Online Application: Online application regarding the Gst Registration in Ghaziabad can be filed on the MCA portal and the form used for this purpose is known as SPICe+ which consolidates 2 main parts Part-A and Part-B. Part-A is to reserve your proposed Company Name, while Part-B will let you access the following services:

1. ESIC Allotment;

2. Tax Allotment;

3. GST Certificate;

4. DIN Allotment;

5. EPF Allotment.

Once you are done with all the filing requirements, you will be prompted to submit a mandatory document.

Step 3: Issuance of Certificate of Incorporation (CoI): At this stage, the MCA will examine the submitted application & documentation for any non-compliance. Once the application is approved, you will get a Certificate of Incorporation, which the authority will share with the applicant through registered contact details. Along with this, the applicant is also provided with the Tax Registration granted by the concerned Tax Department

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"Startupfino's Expert ESIC Services: Ensuring Compliance for Your Business"

ESI registration, or Employees' State Insurance registration, offers a multitude of benefits for both employers and employees in India. This social security initiative ensures that employees and their families have access to medical care and insurance coverage from the moment they start their employment. 

One of the significant advantages of ESI registration is the provision of maternity benefits, which can extend up to 26 weeks with the possibility of an additional 30 days based on medical advice. Employees can receive maternity benefits at 100% of their wages, covering various aspects of maternity-related situations. 

Additionally, ESI provides disability benefits to employees who suffer permanent or temporary disabilities due to unforeseen circumstances, offering them 90% of their monthly salaries as compensation. Sick leave is also covered, allowing ESI members to take up to 91 days of sick leave per year with 70% of their monthly wages during their absence due to illness.

In unfortunate cases of an employee's demise during employment, their dependents receive 90% of the employee's monthly salary, along with funeral expenses of ₹10,000. Other benefits include confinement expenses for insured women, vocational and physical rehabilitation for those with disabilities, and old age medical care for retiring employees.

ESI has also introduced extended sickness benefits for members with chronic diseases and enhanced sickness benefits for those willing to undergo sterilization procedures.

The primary purpose of the Employee State Insurance (ESI) program in India is to safeguard the workforce against health-related risks that could impact their ability to work. This includes illnesses, workplace injuries, occupational diseases, and temporary or permanent disabilities. ESI ensures that employees and their dependents receive essential medical care and financial assistance in times of need, thereby reducing the financial burden caused by such situations.

ESI applicability and coverage are determined based on various factors, including the number of employees, their monthly income, and the type of business or establishment. Entities covered under ESI must secure ESI registration and comply with the relevant regulations.

To apply for ESI registration, entities must provide specific documents and information, including registration certificates, business entity details, employee details, and more. The process involves online registration through the ESIC portal and payment of advance contributions.

Recent amendments to ESI rules have expanded the coverage to include employees earning up to Rs. 21,000 per month and introduced changes in contribution rates. These amendments aim to provide more extensive coverage and benefits to a larger segment of the workforce.

After ESI registration, entities are required to comply with various regulations, including maintaining employee attendance records, wage registers, accident registers, and submitting monthly returns and challans. These compliances ensure that employees receive the benefits they are entitled to under the ESI scheme.

StartupFino offers comprehensive services for ESI compliances, including registration assistance, guidance on post-registration compliances, preparation and submission of monthly returns and challans, attestation of e-Pehchan cards, legal consultancy, and ongoing support to help businesses navigate the complexities of ESI regulations and ensure compliance. By availing these services, entrepreneurs can avoid legal issues, penalties, and operational disruptions, allowing them to focus on growing their businesses.

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Process of subsidiary company registration in Hyderabad

Introduction

Hyderabad is the city of nawabs, with a thriving manufacturing, tourism, and information technology sector. It is the state capital of Telangana. Even though the city is rich in history and tradition, a foreign national establishing a subsidiary firm in Hyderabad is a fantastic idea. Form SPICe+ can be used to register a subsidiary company in Hyderabad online in 8–10 working days. A minimum of two shareholders are required to register an Indian subsidiary in Hyderabad, with one of them being an Indian resident. In this post, we will go through all of the procedures for registering a subsidiary business in Hyderabad, but first, we will define what a subsidiary company is?

What exactly is a subsidiary company?

A subsidiary is a business that is owned or controlled by another business. Typically, the parent business will possess more than 50% of the Indian subsidiary. This gives the parent business control of the subsidiary. In some circumstances, being the majority shareholder is sufficient to win control.

What are the different kinds of subsidiary companies?

A foreign national can establish the following categories of Indian subsidiary in Hyderabad:

Private Limited Company

Limited Liability Partnership

Liaison office

Branch office

Conditions for establishing a subsidiary corporation in Hyderabad

The following are the conditions for establishing an Indian subsidiary in Hyderabad:

There must be a minimum of two shareholders, one of whom must be a resident of India and the other a foreign national.

The Indian subsidiary’s office should be in the Indian city of Hyderabad.

The DIN of all directors involved is essential.

Registration Process of a subsidiary company in Hyderabad

When creating an Indian subsidiary, the same procedure is undertaken as when founding a subsidiary company in Hyderabad. The applicant corporation must be aware of the measures required by the authority in order to establish a company. The Registrar of Companies (ROC) must register the Indian subsidiary. The following is the procedure for registering a subsidiary company in Hyderabad:

Step 1: The first step is to gather all of the paperwork required for registration.

Step 2: Choose a name for the Subsidiary Company that was registered in Hyderabad.

Step 3: The third stage is to draught the AOA and MOA for the Subsidiary Company, which includes information such as share capital, member details, liability to members, shareholding details, and so on.

Step 4: Submit a subsidiary registration application in the appropriate form, Form SPICe+:

Spice+ is separated into two sections:

Part A: Fill out Part A of the Spice+ form to reserve the company’s name. It can be used to obtain approval for the proposed company’s name as well as to file for company registration all at once.

Part B: Fill out Part B of the Form Spice+ to request the following services:

Incorporation

DIN allocation

PAN registration is required

TAN registration is required

EPFO registration is required

ESIC registration is required

Profession Tax Registration (Hyderabad) is required.

Mandatory opening of a company bank account and allocation of a GSTIN (if applied for)

Step 5: Open a bank account in Hyderabad in the Subsidiary Company’s permitted name.

Documents required for the formation of a subsidiary company in Hyderabad

The following documents are necessary for forming an Indian subsidiary in Hyderabad:

A. Company-related documents:

Memorandum of Association and Articles of Association.

The lease agreement must be presented as proof of address if the property is rented; a copy of the ownership papers must be produced if the property is owned.

Copy of utility bills.

A copy of the resolution of the promoter firm.

Copies of the company’s capital structure

A copy of the Certificate of Incorporation of the Foreign Corporation.

B. Documents related to directors and shareholders:

A Director Identification Number (DIN) and a Digital Signature Certificate (DSC) are required for directors and authorized shareholders.

Identification and address documentation for shareholders and directors.

Photographs of the Board of Directors and Shareholders.

Investments by the First Directors in Other Entities.

Declaration of Directors and Shareholders.

Conclusion

We will end by stating that establishing an Indian subsidiary in Hyderabad is a wise decision. Because you will receive broad exposure to the Indian market and will have access to a larger pool of talent. A large number of experienced professionals, government support for business-friendly rules, and a knowledgeable workforce are just a few of the factors that make Subsidiary Company Registration in Hyderabad easier.

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What is MCC NEET-MDS Counselling 2023?

People acquire great results after carrying out thorough research. Complex procedures can be simplified with a thorough understanding and the right information. Therefore, gaining complete knowledge about the MCC NEET-MDS counselling process will be of great help to students who want to pursue higher studies in the field of Dentistry.

After acquiring the results of entrance exams, students need to participate in Counselling rounds, where they will be allotted seats based on their marks. The MCC NEET-MDS counselling will help candidates secure a seat anywhere in India. Interested and eligible candidates can register by filling out the MCC NEET-MDS 2023 application form and pay the AIQ NEET-MDS counselling fees.

MCC conducts NEET-MDS Counselling for the following Seats:

50% All India Quota Seats (Including Union Territory of Jammu & Kashmir)

100% Central University Seats (AIQ & Institutional Quota Seats)

100% Deemed University Seats

50% AIQ Seats under ESIC

Armed Forces Medical Services Institutions (Only registration)

All India Quota (AIQ) NEET-MDS Counselling:

The MCC NEET-MDS Counselling 2023 for AIQ is conducted for those who want to acquire a postgraduate seat in Dentistry. There will be 4 AIQ counselling rounds. Eligible candidates can choose to participate in the counselling process to secure a seat.

MCC NEET-MDS Counselling Eligibility Criteria:

Should have qualified in NEET-MDS

Need to be Domicile free

It’s easy to get lost as the counselling procedure is lengthy and tedious. Hope all your confusion was cleared after reading the step-by-step explanation of the MCC NEET-MDS counselling rounds.

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Registering as an Indian Subsidiary Company : Things you should know

Introduction

Expanding your business into a new market like India can be an exciting and promising venture. One of the popular methods for establishing a presence in India is by forming a subsidiary company. A subsidiary is a company controlled by another company, known as the parent company. While forming a subsidiary company in India offers numerous advantages, it is essential to be aware of certain key aspects to ensure a smooth and successful entry into the Indian market. In this article, we will discuss important factors that you should know before forming a subsidiary company in India.

What is an Indian Subsidiary Company?

An Indian subsidiary refers to a company that is owned or controlled by another company. It is a business entity where the majority or partial ownership lies with a holding company. The relationship between the holding company and the subsidiary can be determined by considering factors such as preference share capital and paid-up equity share capital of the subsidiary.

India has rapidly emerged as one of the most attractive destinations for businesses worldwide. The country has taken various measures to establish itself as a business-friendly nation, including providing investment opportunities, encouraging foreign corporations to participate in domestic projects, and implementing pro-business regulations. These efforts have made India an appealing choice for foreign companies looking to expand their operations.

Process of registering an Indian Subsidiary

1. Begin by gathering all the necessary documents required for registration.

2. Choose a suitable name for the Subsidiary Company that is being registered.

3. The next step involves drafting the Articles of Association (AOA) and Memorandum of Association (MOA) for the Subsidiary Company. These documents outline important details such as share capital, member information, liability to members, and shareholding details.

4. File an application for subsidiary registration using the prescribed form, known as Form SPICe+:

Part A: Apply for the name reservation of the company in Part A of the form Spice+. It can be used for taking the name approval of the proposed Company and also for filing Company registration in one go.

Part B: In Part B of the Form Spice+, apply for the following services:

Incorporation

DIN allotment

Mandatory issue of PAN

Mandatory issue of TAN

Mandatory issue of EPFO registration

Mandatory issue of ESIC registration

Mandatory issue of Profession Tax registration (State you have decided to register)

Mandatory Opening of Bank Account for the Company and

Allotment of GSTIN (if so applied for)

5. Open a bank account under the approved name of the Subsidiary Company. This step involves selecting a suitable bank and completing the necessary procedures to establish the company's bank account.

Things you should know before registering as an Indian Subsidiary Company

Legal Structure and Registration

Before establishing a subsidiary in India, it is crucial to understand the legal structure options available. The most common legal structures for a subsidiary company in India are private limited company, public limited company, and limited liability partnership (LLP). Each structure has its own requirements and regulations. It is recommended to consult with legal experts or professional advisors who can guide you in selecting the appropriate structure based on your business objectives.

2. Foreign Direct Investment (FDI) Regulations

Foreign companies planning to form a subsidiary in India need to comply with the Foreign Exchange Management Act (FEMA) regulations and the Reserve Bank of India (RBI) guidelines. These regulations govern foreign direct investment, shareholding patterns, sector-specific restrictions, and compliance requirements. Understanding the FDI regulations is crucial to ensure compliance and avoid any legal complications during the incorporation process.

3. Minimum Capital Requirements

In India, subsidiary companies are subject to minimum capital requirements based on the chosen legal structure. For example, a private limited company generally requires a minimum authorized and paid-up capital. It is essential to determine the appropriate capital structure and ensure compliance with the prescribed minimum capital requirements as per the Companies Act, 2013.

4. Corporate Governance and Compliance

Indian corporate governance and compliance standards are stringent and require adherence to various regulatory obligations. As a subsidiary company, you need to comply with statutory requirements such as maintaining proper books of accounts, filing annual financial statements, conducting board meetings, and complying with tax and other regulatory obligations. Establishing robust corporate governance practices and having a sound compliance framework in place is vital to operate smoothly within the Indian legal framework.

5. Taxation and Transfer Pricing

India has a complex tax system, and it is important to understand the tax implications of operating a subsidiary company. Familiarize yourself with India's tax laws, including corporate tax rates, transfer pricing regulations, withholding taxes, and Goods and Services Tax (GST). Proper tax planning and understanding the transfer pricing regulations can help optimize tax liabilities and avoid any disputes with tax authorities.

6. Intellectual Property Protection

Protecting your intellectual property (IP) rights is crucial when establishing a subsidiary company in India. It is advisable to register your trademarks, copyrights, patents, or any other IP assets in India to safeguard your business interests. Understanding the process and timelines for IP registration in India will help you secure your valuable assets and prevent unauthorized use or infringement.

7. Hiring and Employment Laws

India has specific employment laws and regulations that govern hiring, termination, employee benefits, and workplace safety. It is important to familiarize yourself with these laws to ensure compliance and establish a healthy work environment. Consider consulting with local HR professionals or legal experts to understand the employment landscape and adhere to all labor laws.

Conclusion

Forming a subsidiary company in India can open new opportunities for business expansion and growth. However, it is essential to approach the process with thorough preparation and understanding. An Indian subsidiary presents numerous advantages for foreign companies seeking to enter the Indian market. From the ability to acquire real estate, capitalize on a growing economy, access a young and productive workforce, and enjoy limited liability protection, to the flexibility in choosing the appropriate legal structure, an Indian subsidiary provides a solid foundation for successful business operations and expansion in India.

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What work is done in ESIC

The Employees' State Insurance Corporation (ESIC) is a social security organization ESIC Jobs established by the Indian government to provide various benefits and services to employees and their dependents. ESIC carries out several essential functions to ensure the effective implementation of the Employees' State Insurance (ESI) scheme. Let's explore the key work done by ESIC.

Registration of Employees: ESIC is responsible for the registration of employees and employers under the ESI scheme. Employers need to register their establishments and enroll eligible employees for the benefits provided by ESIC. This process involves collecting necessary information, verifying documents, and issuing unique identification numbers to the registered entities.

Collection and Management of Contributions: ESIC collects contributions from both employees and employers towards the ESI scheme. The contributions are based on a percentage of the employees' wages, and it is the responsibility of ESIC to ensure proper collection and management of these funds. The collected contributions are utilized to provide healthcare, cash benefits, and other services to the beneficiaries.

Provision of Medical Services: ESIC operates a network of hospitals, dispensaries, clinics, and medical institutions to provide comprehensive medical services to insured employees and their dependents. These healthcare facilities offer outpatient treatment, specialist consultations, hospitalization, diagnostic tests, medicines, and surgeries. ESIC ensures the availability of quality healthcare services to the beneficiaries through its medical infrastructure.

Cash Benefits: ESIC provides cash benefits to insured employees during periods of sickness, temporary disablement, and maternity. In case of sickness or temporary disablement, employees are entitled to receive a percentage of their average daily wages as cash compensation. Maternity benefits include paid leave and cash compensation during the maternity period. ESIC administers the disbursement of these cash benefits to eligible beneficiaries.

Disability Benefits: ESIC offers disability benefits to insured employees who become permanently disabled due to employment-related injuries or illnesses. The disability benefits are provided in the form of a monthly pension based on the extent of the disability. ESIC ensures the assessment and determination of disability and facilitates the regular payment of pension to the eligible individuals.

Dependent Benefits: ESIC extends its coverage to the dependents of insured employees as well. Spouses and children of insured individuals are entitled to medical benefits and cash compensation in case of the employee's disability, injury, or death. ESIC administers the provision of these dependent benefits, ensuring the welfare and support of the beneficiaries.

Compliance and Enforcement: ESIC plays a crucial role in ensuring compliance with the ESI scheme by employers and employees. It conducts inspections and audits to verify the accuracy of registrations, contributions, and other related aspects. ESIC also enforces penalties and takes necessary actions against non-compliant entities to maintain the integrity and effectiveness of the scheme.

Public Awareness and Education: ESIC undertakes initiatives to create public awareness about the ESI scheme, its benefits, and the procedures for availing them. It conducts awareness campaigns, disseminates information through various channels, and educates stakeholders about their rights and obligations under the scheme. These efforts contribute to increasing the reach and utilization of ESIC services.

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Registration Of Company By Foreign Nationals | Ebizfiling

 Introduction 

Do you want to start a business in India but are having trouble registering one? Don’t worry, this blog will provide you with all of the information you need to know about how to register a company in India by following some simple online steps.

 Company registration 

Company registration is a process by which business owners incorporate their company as a legal entity. The first step in creating a company in India is to register it. It signifies that you have the authorization to conduct business in the Indian market and that you must adhere to all of the legal requirements as per MCA (Ministry of Corporate Affairs).

 Benefits of forming a company in India 

One of the key advantages of registering a company in India is that it has a vast population and a broad market without boundaries, with well-established logistics.

There is a considerable reduction in operating costs, from infrastructure to phones to the internet to labour to salaries to everything else necessary to start a company in India.

India has a well-regulated financial system that has access to developed markets all over the world and maybe financed through a variety of sources restricted to RBI laws and regulations.

India has a huge network of technical and managerial institutions of the highest international standards, which are supported by regional and bilateral free trade agreements.

The Indian government has launched a number of initiatives to encourage foreign investment in India's various sectors. It has periodically introduced a variety of interesting plans and policies in order to attract investors.

 Procedure for registering a company in India by foreign nationals 

Let us discuss five simple steps to register a company in India by an NRI or foreign national, which are as follows:

1. The first step is to obtain certain documents from the proposed directors of NRI/foreign nationals, which are the Digital Signature Certificate, Director Identification Number.

2. The second step is to decide on a name for the subsidiary company in India. The name should be unique or be the same as the foreign corporation.

3. The third step is to draft a Memorandum of Association and Articles of Association for the Indian Subsidiary.

4. The fourth step is to fill in the application for Indian subsidiary registration in India in the prescribed form, i.e., SPICe+ Form:

Spice+ is divided in two parts:

Part A: Apply for the name reservation of the company in Part A of the form Spice+. It can be used for taking the name approval of the proposed Company and also for filing Company registration in one go.

Part B: In Part B of the Form Spice+, apply for the following services:

Incorporation

DIN allotment

PAN is required to be issued.

Mandatory TAN issuance

Mandatory issue of EPFO registration

Mandatory issue of ESIC registration

Mandatory issue of Profession Tax registration(Maharashtra)

Mandatory Opening of a Bank Account for the Company and

Allotment of GSTIN (if so applied for).

5. The last step would be to open a bank account in India under the name of the company.

 Basic requirements for Company Registration in India 

The name of your firm must be unique. The recommended name should not be confused with any already-existing business or trademarks in India.

A company does not necessarily need to have a commercial site for its registered office. If you want to use a rental property as your registered office, you must have the landlord's NOC.

A Private Limited Company can have up to 15 directors, with a minimum of two. The company's directors must include at least one Indian resident.

A business is not required to have a specific amount of capital. The minimum amount of authorised capital for a firm is one lakh rupees.

 Documents required for Foreign Nationals to register a company in India   

Passport photocopy (Notarized or Apostille).

Address proof such as a driver's licence, residence card, bank statement, or other government-issued identification document with a proof of address.

Residential identification documents, such as bank statements, utility bills, and phone bills.

Proof of a registered office.

Proof of any utility service, such as telephone, gas, or electricity, for office buildings.

Proof of stockholders' names and addresses.

Articles of Association and Memorandum of Association.

 Conclusion 

The Indian subsidiary company must be registered according to the Companies Act of 2013. According to the Companies Act 2013, a subsidiary company is a foreign corporation or a parent body that owns at least 50% of the total share capital. The subsidiary must abide by the laws of the country in which it seeks to operate.

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Advantages of ESIC Registration

The benefits of participating in this program are numerous.

These include:

Sickness benefits that provide 70% of wages for a maximum of 91 days annually in cases of certified illness.

Extended sickness benefits for up to two years for employees diagnosed with 34 specific malignant and chronic diseases, offering 80% of their wages.

Full wage sickness benefits for employees undergoing sterilization procedures for family planning, covering up to 7 days for Vasectomy and 14 days for Tubectomy.

Medical coverage for employees and their family members.

Medical benefits for retired employees and their spouses, available with an annual premium payment of Rs.120.

Maternity benefits at full wage for expectant mothers, providing paid leave for 26 weeks, which can be extended by an additional month. In the unfortunate event of an employee's death due to work-related injuries or occupational hazards, dependents receive a benefit of 90% of the wages as a monthly payment.

Temporary disablement benefits for work-related injuries at 90% of wages for the duration of the disability.

Permanent disablement benefits, also at 90% of wages, are provided monthly based on the assessed loss of earning capacity as certified by a Medical Board.

Funeral expenses of Rs.15,000 are allocated to the dependents of the employee or to the individual responsible for conducting the last rites.

Post-Registration Obligations under ESIC:

Following registration with the ESIC, the establishment is required to adhere to the subsequent compliance measures:

Keeping an attendance register.

Maintaining a comprehensive wage register for employees.

Having an inspection book.

Submitting monthly returns and challans by the 15th of the following month.

Keeping a register to document any accidents that occur on the premises.

Click here to more about ESI Act In India 

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Click and know, how to get ESIC number or ESIC registration process, benefits of Employees State Insurance Scheme, and clear all your queries. 

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Online Procedure for Gumasta License in Bhopal

Following is the step-by-step online procedure for Gumasta License in Bhopal:

Step 1: DSC & DIN: Your 1st step in the process of Gumasta License is obtaining DSC & DIN. DSC or Digital Signature Certificate serves as an electronic medium for signing digital documents. DSC is also mandatory for the subscribers of the charter documents like MoA & AoA. Whereas, DIN establishes the identity of a Director and it is assigned to a single Director & it helps service various purposes. DSC & DIN can be secured through the SPICe+ Form and this form refers to an e-application for Gumasta License.

Step 2: File an Online Application: Online application regarding the Gumasta License in Bhopal can be filed on the MCA portal and the form used for this purpose is known as SPICe+ which consolidates 2 main parts Part-A and Part-B. Part-A is to reserve your proposed Company Name, while Part-B will let you access the following services:

1. ESIC Allotment;

2. Tax Allotment;

3. GST Certificate;

4. DIN Allotment;

5. EPF Allotment.

Once you are done with all the filing requirements, you will be prompted to submit a mandatory document.

Step 3: Issuance of Certificate of Incorporation (CoI): At this stage, the MCA will examine the submitted application & documentation for any non-compliance. Once the application is approved, you will get a Certificate of Incorporation, which the authority will share with the applicant through registered contact details. Along with this, the applicant is also provided with the Tax Registration granted by the concerned Tax Department.

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Click and know, how to get ESIC number or ESIC registration process, benefits of Employees State Insurance Scheme, and clear all your queries.

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"Startupfino's Expert ESIC Services: Ensuring Compliance for Your Business"

ESI registration, or Employees' State Insurance registration, offers a multitude of benefits for both employers and employees in India. This social security initiative ensures that employees and their families have access to medical care and insurance coverage from the moment they start their employment. 

One of the significant advantages of ESI registration is the provision of maternity benefits, which can extend up to 26 weeks with the possibility of an additional 30 days based on medical advice. Employees can receive maternity benefits at 100% of their wages, covering various aspects of maternity-related situations. 

Additionally, ESI provides disability benefits to employees who suffer permanent or temporary disabilities due to unforeseen circumstances, offering them 90% of their monthly salaries as compensation. Sick leave is also covered, allowing ESI members to take up to 91 days of sick leave per year with 70% of their monthly wages during their absence due to illness.

In unfortunate cases of an employee's demise during employment, their dependents receive 90% of the employee's monthly salary, along with funeral expenses of ₹10,000. Other benefits include confinement expenses for insured women, vocational and physical rehabilitation for those with disabilities, and old age medical care for retiring employees.

ESI has also introduced extended sickness benefits for members with chronic diseases and enhanced sickness benefits for those willing to undergo sterilization procedures.

The primary purpose of the Employee State Insurance (ESI) program in India is to safeguard the workforce against health-related risks that could impact their ability to work. This includes illnesses, workplace injuries, occupational diseases, and temporary or permanent disabilities. ESI ensures that employees and their dependents receive essential medical care and financial assistance in times of need, thereby reducing the financial burden caused by such situations.

ESI applicability and coverage are determined based on various factors, including the number of employees, their monthly income, and the type of business or establishment. Entities covered under ESI must secure ESI registration and comply with the relevant regulations.

To apply for ESI registration, entities must provide specific documents and information, including registration certificates, business entity details, employee details, and more. The process involves online registration through the ESIC portal and payment of advance contributions.

Recent amendments to ESI rules have expanded the coverage to include employees earning up to Rs. 21,000 per month and introduced changes in contribution rates. These amendments aim to provide more extensive coverage and benefits to a larger segment of the workforce.

After ESI registration, entities are required to comply with various regulations, including maintaining employee attendance records, wage registers, accident registers, and submitting monthly returns and challans. These compliances ensure that employees receive the benefits they are entitled to under the ESI scheme.

StartupFino offers comprehensive services for ESI compliances, including registration assistance, guidance on post-registration compliances, preparation and submission of monthly returns and challans, attestation of e-Pehchan cards, legal consultancy, and ongoing support to help businesses navigate the complexities of ESI regulations and ensure compliance. By availing these services, entrepreneurs can avoid legal issues, penalties, and operational disruptions, allowing them to focus on growing their businesses.