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ESI Returns

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ESI Returns

File error-free ESI Returns and in-time. File your ESI returns through experts ThinkBiz Filings Prices start at INR 999/- only.

 
 
 
 
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What is an ESI Return?

All you need to know

Employees’ State Insurance(ESI):

Employee State Insurance is a self-financing social security scheme and health insurance plan for Indian workers, offering medical and disablement benefits. Governed by the ESI Act, 1948, it is managed by Employees’ State Insurance Corporation (ESIC) under the Ministry of Labour and Employment. ESIC is expected to manage the fund as per the rules and regulations set forth by the Act.

Applicability of ESI:

The ESIC is applicable on all the establishments having 10 or more workers and is beneficial to all the employees earning Rs.15, 000/- or less per month as wages, employer must contribute 3.25 percent and employee must contributes 0.75 percent towards ESI.

ESI registration ESI return

Due date for filing ESI Return:

The employer needs to pay ESI return on a monthly basis, and the due dates are also fixed as follows:

  • The due date for ESI return filing is 15th of subsequent month.

Why Thinkbiz filingS as your service provider for ESI return?

Thinkbiz Filings is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Filing ESI Returns is easy, seamless, cheapest and quickest with Thinkbiz Filings! Apart from ESI returns, Thinkbiz Filings also helps you to file Income Tax ReturnsTDS ReturnsGST Returns and PF Returns easily. You may get in touch with our compliance manager on 09704561215or email info@Thinkbizfilings.com  for for free consultation.

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Compliance Requirements for a Partnership Firm

Income Tax Return

    Partnership firms must file annual tax returns. The due date is 31st July for non-audit cases and 30th September for audited firms. Timely filing ensures compliance, avoids penalties, and maintains legal standing.

    GST Compliances

      Partnership firms must register for GST if turnover exceeds the prescribed threshold. Regular GST return filing is mandatory to ensure compliance, avoid penalties, and maintain smooth business operations under GST laws.

      TDS Compliance

        Partnership firms must deduct and deposit Tax Deducted at Source (TDS) if liable under the Income Tax Act. Timely filing of TDS returns ensures compliance, avoids penalties, and maintains smooth financial operations.

        Accounting

          firms must maintain proper books of accounts reflecting an accurate and fair view of financial affairs. Each partner’s capital, withdrawals and profit share should be recorded separately to ensure transparency

          Tax Audit (if applicable)

            Required for partnership firms if business turnover exceeds ₹1 Cr or professional receipts surpass ₹50 Lakh under Section 44AB, ensuring regulatory compliance and accurate financial reporting.

            Firm Updates

              Partnerships must file updates on any changes in firm structure, such as partner additions, removals, or modifications to the partnership deed, ensuring legal compliance and transparency.

              Documents Required for Partnership Firms

              Quick Checklist

              • PAN card of all partners of the firm.
              • Aadhaar/Passport/Voter ID/Driving License of all partners.
              • Latest utility bill, rent agreement, or ownership proof of the firm’s office.
              • Latest bank statements of partners.
              • Recent photos of all partners.

              Key Benefits of a Partnership Firm

              Points to make your decision easy

              Ease of Formation

                Partnership firms have a straightforward registration process with minimal legal formalities, making them easy and cost-effective to establish.

                Tax Benefits

                  Partnership firms avoid double taxation, as profits are taxed only at the firm’s level and not again in the hands of partners, ensuring tax efficiency.

                  Lower Compliance

                    Partnership have fewer regulatory requirements and legal formalities compared to corporations, reducing administrative burdens and operational costs.

                    Decision-Making

                      Partnership firms enable quick decisions without extensive regulatory approvals, allowing for agile business operations and faster implementation of strategies.

                      Profit Sharing

                        Partners can distribute profits as per the agreed ratio in the partnership deed, allowing flexibility and mutual benefit in financial management.

                        No Minimum Capital

                          Partnership firms have no minimum capital requirement and can be registered even with Rs. 10,000 as total capital, providing flexibility in business setup.

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                          FAQs On ESI Returns
                          Get answers to all your queries
                          • The Employees’ State Insurance (ESI) Scheme is a social security scheme managed by the Employees’ State Insurance Corporation (ESIC), providing medical and financial benefits to employees and their families.
                          • Any business or employer with 10 or more employees (in some states, 20) earning a gross salary of up to ₹21,000 per month must register under ESI and file returns.
                          • Employers must: Deduct 0.75% of the employee’s salary and contribute 3.25% from the employer’s side. File monthly contributions (Challan). File half-yearly returns (April-September & October-March).
                          • Monthly ESI payment: 15th of the following month. Half-yearly return: May 11 (for October-March) & November 11 (for April-September).
                          • Penalties include: 12% annual interest on late payments. Possible legal action from ESIC.
                          • Returns can be filed online through the ESIC portal (www.esic.in) using the employer’s login credentials.
                          • No, once an employee’s salary exceeds ₹21,000, they are exempt from future contributions, but deductions continue until the end of that contribution period.
                          • No, ESI is not mandatory for businesses with fewer than 10 employees, but they can opt for voluntary registration.
                          • Employers need: Employee details (Aadhaar, salary details, etc.) Challan copies of payments made. Register of wages, attendance, and accident records (if any).
                          • ESI provides: Medical treatment for employees & family. Maternity benefits for female employees. Disability & dependent benefits in case of injury or death. Sickness benefits at 70% of wages for up to 91 days per year.
                          • Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@thinkbizfiling.com or call us @+91 970 456 1215

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