Employers, this post is dedicated to only you!
We understand the pain of filing monthly compliances in employee’s EPF/ESI accounts all by you or your HR Team. This is why we are here to rescue you. We have come up with some reasons why you should hire a PF Consultant.
So, here we go!
1. Reducing Costs
It’s the obvious reason why you would ask a consultant to do the job instead of doing it yourself. There are no reasons why a person would ask a consulate to do a job if it is not helping them to reduce costs.
A PF Consultant is someone who would be the one you need when it comes to reducing costs.
As we all know, EPF & ESI are levied on a certain part of an employee’s salary. A well-skilled consultant does the job of bifurcation of an employee’s salary into different parts successfully and thereby, it is ensured that the employer pays the minimum possible amount and thus, it saves a ton of money.
2. Fulfilling Monthly Compliances
It should be noted that if you are already being covered under the PF or ESI Acts, then you should know that you need to fill monthly compliances in each account required. Not only that, you have to deposit money in each and every bank account, have to maintain a lot of other documents and much more.
This is not just time-consuming but also energy. All these works eat up a lot of time from your working hours, which otherwise could be utilized in doing other such important things and hence, your productivity is decreased dramatically.
A well-skilled consultant always fulfils the monthly needed compliances for you on time. The person always avoids delaying in any manner as well, thus saving you from any penalties.
A consultant makes the job a lot easier and hassles free.
Read Here: Benefits of Employee Provident Fund
3. Prepared For Random Inspections
This is probably the main and the most important reason for having a PF Consultant. There are random and infrequent inspections carried out in companies which come under PF and/or ESI Acts.
It is not possible for employers to always be prepared for such things and this is why they hire a consultant. To handle the inspections smoothly, the consultant will always be ready to cooperate with the officials as and when required. The consultant will act as a link between you and the officials.
Any online portal or software may be handy and useful to file compliances but a person presents there will always be more useful. Only a person is able to handle such things and make sure everything goes well.
4. Helping HR Team
More than 50 per cent of work of the Human Resource (or simply, HR) Team is to always handle EPF, ESI procedures and payroll process in India of the employees working under the employer. A well-skilled consultant may come useful here to handle all of the mentioned works for an absolutely negligible fraction of the amount which is being paid. It also helps the HR Team to save time, which further helps them to work on several other things which needs much more attention.
Read Here: Things to know about Employee Provident Fund (EPF)