All of us make different contributions as working professionals for society and our own betterment. Be it contributing to the growth of the organization by working hard to meet our targets or by making deductions from our salaries to pay taxes or deposit funds. Talking about the contributions we make for our own good, there are several plans, policies and governance regimes that are introduced as benefits schemes in favor of the working class. Two such chief and familiar government policies include EPF (Employees\u2019 Provident Fund) and ESI (Employees\u2019 State Insurance).<\/p>\n
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The former, being a post-retirement and income benefits plan and the latter, a health insurance scheme. Now, there\u2019s no doubt about the fact that these plans are laid out to secure the employee\u2019s interests, but there were times when change was required. Now that steps have been taken and advancements made, some professionals still face problems due to lack of information about issues like how to withdraw pf online among others. Let\u2019s see what were the prevalent problems and how they got resolved:<\/p>\n
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Problem With ESI Contribution<\/strong><\/p>\n Earlier, the rate of contribution towards the ESI fund was quite high. A total of 6.5% of the registered employee\u2019s Gross Salary out of which, the employee\u2019s share was 1.75% and the remaining 4.75% was the employer\u2019s part. This made the low wage workers a little reluctant to pay such a huge amount. But, since the contribution is compulsory, it couldn\u2019t be escaped. However, the concern was raised to the concerned authorities.<\/p>\n <\/p>\n