Income tax is applicable for everyone and everything that generate income. The IT Act, 1961 regulates the collection, recovery, and administration of income tax in India.
ESI Returns Filing Services in Purnea, Bihar
ESI Return is form to declare the information about employees employed, their wages and contribution being paid on their behalf. ESI Returns are to be filed annually by 25th April while details of Contributors has to be submitted Semi-Annually by 11th May and 11th November. Avyud Consultancy is a reputed business platform and a progressive concept, which helps in end-to-end Incorporation, Compliance, Consultancy and Management Consultancy services to clients in Purnea, Bihar. ESI return filing is easy, seamless, cheap and fast with Avyud Consultancy.
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Advantages of ESI Return Filing
The following documents have to be submitted for filing the TDS returns.
Medical Benefits
Full medical care benefits to the Life Assured and their family members from the date of insurance. There is no limit on the expenditure on the treatment and nature of the disease.
Sickness and Disabled
Sickness compensation at the rate of 70% of wages and disability compensation at the rate of 90% of wages for a certified illness period up to 90 days to insured employees.
Maternity Benefit
Maternity benefit of pregnancy is payable @ 100% of wages for a period of 26 weeks and this period can be extended by one month on medical advice.
Other Benefits
Funeral expenses up to Rs. 15000 to the dependent and other benefits include
Timeline for ESI Return Filing in Purnea, Bihar
Timeline for ESI Return Filing
- Similarly, the tax expert shall file your Semi-Annual details of contributions by 11th May and 11th
- You will deduct ESI from Wages and pay the ESI monthly by 21st retaining the receipts. (Alternatively, you may take the help of your Tax Expert to pay the same)
- You will provide the details as listed above to your Tax Expert preferably within first week of April.
- You are expected to provide the additional details as soon as possible.
- Your tax expert will then process your details and prepare the ESI Return within next 3 days. The return will be shared with you for confirmation.
- After confirming, tax expert will file your return online before 25th An Acknowledgement will be generated.
- Your Tax Expert will go through the documents in next couple of days and ask for more details, if required.
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Documents Required for ESI Returns Filing
The following documents have to be submitted for filing the ESI Returns Filing.
Employer Login ID & Password
Monthly Salary Statement
New Joining & Exits Information
Attendance Register
Why Choose Us for ESI Returns Filing Services
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FAQs for ESI Returns Filing Services
What is ESI Returns Filing?
While you pay Employees’ State Insurance (ESI), only your Registration ID is shared and the ESI contributed. But, the details of employees also needs to be shared with Employees’ State Insurance Corporation (ESIC) to enable them to provide proper services to employees. ESI Return is form to declare the information about employees employed, their wages and contribution being paid on their behalf. ESI Returns are to be filed annually by 25th April while details of Contributors has to be submitted Semi-Annually by 11th May and 11th November.
What are Documents Required for ESI Return Filing?
Documents to be provided for ESI Return Filing
- Your ESIC Registration details (If not registered yet, you may ask your Tax Expert for Registration Services)
- Details of Employees, their wages and ESI Contribution thereon (Alternatively, you may share the Salary Sheets or Salary Registers maintained)
- Receipts of Employees’ State Insurance Corporation (ESI) Payments
What are The Reasons for ESI Return Filing?
Reasons for ESI Return Filing
- It is a mandatory and continued compliance.
- ESIC strives to provide medical and sickness benefits. If the returns are not filed appropriately employees may not be able to avail these benefits.
What is ESI Scheme?
ESI is a comprehensive social security scheme designed to provide social security to employees against death due to illness, disability and employment injury and other incidents. The fund is self financing where the employer and employee contribute on a monthly basis and the amount can be used to reimburse the health expenses of the employee and his family members.
How does The ESI Scheme Help Employer?
Employers get certain benefits when they obtain Employees’ State Insurance registration for their business. The employer protects his employee by ESIC in every way, so that the employee can concentrate on his work.
What is The Rate of Contribution Towards ESI?
With effect from 01.07.19, the ESI contribution rate is 0.75% for employees and 3.25% for employers. Employees earning an average daily wage of Rs 176 or less are exempted from the employee share of the contribution, but employers are required to contribute their share in respect of these employees.
Our Other Returns Filing Service in Purnea, Bihar
GST Filing
With the presentation of Goods and Service Tax, citizens are required to satisfy an arrangement of compliances which commands them to document different returns for each Financial Year.
TDS/TCS Return
Tax Deducted at Source (TDS) is a system of Indirect Tax Collection by Income Tax Department, where an individual is responsible for making specified payments.
