We all are well aware that India is changing its archaic systems to comply with International systems. Adopting a philosophy of one-point resolution of all the problems which are faced by young entrepreneurs. These changes can also be seen in India’s investment process or the government’s initiatives to promote entrepreneurship.
There are changes to facilitate entrepreneurs to register under both ESIC and EPFO at the registration of a Private Limited company. So, there is no extra effort for the business owner to run to multiple government offices. The option was added to Spice forms, which are for registration of Private Limited Company. These options can be treated as a convenience for the company owners who have exceeded twenty employees; but what happens to those employers who haven’t done registration at the time of registration of the company.
ESIC has a post-registration process
In ESIC, there is a procedure for post-registration. After registration of a company as a Private Limited firm.
EPFO lacks procedure
In EPFO, there is no procedure for the company’s post-registration in India, which can be termed as a faulty system altogether.
Even on the website of EPFO, there is a notice for visitors, which mentions that all the registration shall be done on the website of MCA – Ministry of corporate affairs. The companies that are registered under the period of coronavirus, those companies have no option to register for EPFO. To correct the procedural mistake, there were complaints made to both EPFO Employees’ Provident Fund Organization and MCA – Ministry of Corporate Affairs. The response of the same is awaited for two weeks.