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ONLINE ESI RETURN AND DAY TO DAY COMPLIENCES

  • Employee Pension Scheme - 8.33% of an employer’s contribution is deposit to the Employee Pension Scheme.The Employee Pension Scheme is working after their retirement at the age of 58 years. This Scheme may be called the Employees' Pension Scheme, 1995.

  • Exempt from income tax – Tax SavingUnder Section 80C in Income Tax Act an employee account is eligible for tax exemption. The maximum limit of Exemption can be availed Rs. 1.5 Lakh.

The Different EPS forms and the purpose they are required for -

EPS Form Purpose
Form 19 For final settlement by member
Form 13 For Transfer of old account to the new one
Form 31 For Withdrawal in certain cases
Form 14 For financing LIC Policy
Form 20 For final settlement in favour of nominee/ beneficiary of a deceased member
Form 10D For Monthly Pension
Form 10C For Withdrawal Benefit and Scheme Certificate
Form 5IF For claiming Insurance Benefit by a nominee/ beneficiary in case of member’s death while in service

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