ESI Registration

Employee's State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers. For all employees earning INR 21000 or less per month as wages, the employer contributes 4.75 percentage and employee contributes 1.75 percentage, total share 6.5 percentage. This fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. But most of the dispensaries and hospitals are run by concerned state governments. Employees registered under the ESI enjoy a range of benefits under the scheme. Employee enjoy medical attendance and treatment for the person insured and their families including full range of medical, surgical and obstetric treatment, supply of all drugs, ambulance services, super-specialty consultation, etc., In addition, to the medical care, insured persons also enjoy sick pay benefits. Registration with ESI provides the employee with tremendous benefits and improves worker morale and retention. IndiaFilings can help your Company obtain and manage ESI Registration.

What is GST Compliance Rating?

GST Compliance Rating is a numerical rating given to businesses depending on their level of compliance with Goods & Services Tax rules. Refund claims under the GST regime will also be processed on merit basis, i.e on the GST compliance rating of the registered taxpayer. It is expected that certain slab rates will be maintained for various taxpayers falling under various bandwidths of compliance rating and the refunds will be made in terms of percentage amount based on the individual rating of the taxpayer. Higher compliance ratings will make the refunds process easier for businesses.

What is included in Our ESI Package

ESI Registration Procedure



Advantages of GST


SIMPLICITY IN TAX PAYMENT

  • Currently, a startup spends a lot of time and energy to manage the various taxes at various points. It has to deal with VAT, Excise Duty, Service Tax, Octroi, Entry Tax etc. After GST, only one unified tax rate will be applicable. This brings in a major advantage to startup businesses by simplifying the process of tax payment.


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EXEMPTIONS TO NEW BUSINESS

  • Earlier, any business that dealt with goods liable to pay VAT was required to get registration under the VAT act if the turnover crossed Rs. 5 Lakhs. As per the new GST, the limit shall be Rs. 10 lakhs which is a very good thing for startups. Also, businesses with turnover between Rs 10 and 50 lakh are expected to be taxed at a lower rate.

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IMPLEMENTATION OF BUSINESS

  • Any new business needs to have a VAT registration from sales tax department. A business may have to follow unnecessary cumbersome process of registration which may be different in different States. GST will bring about uniformity in process of registration and will only require a centralized registration that will make starting business much simpler.
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SIMPLICITY IN TAX CALCULATION

  • There are many businesses that require the payment of not only Service Tax but also VAT. This makes the calculation for tax very complex. By implementation of GST, only one tax will be required to be calculated and paid. This will make the tax calculation easier.




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