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PF and ESI compliances

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Max Payne

Max Payne (Querist)
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03 July 2009 Can anybody give me PF and ESI compliance checklist for statutory audit...
Thanks in advance

M Prabhakar Menon

M Prabhakar Menon (Expert)
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04 July 2009 1 Check internal control for preparation of payroll;(a) documentaion involved,(b)who does what (c)software used (d)access to data / password (d) cut off dates etc;
2 Whether anyone can tinker with the PF and ESi deduction rates in the software
3 Accounting method followed frequency of reconciliation of PF and ESI account
4 Read the inspection reports of PF and ESi inspectors check correspondence for any observations made.
5 Filing of respective returns and timeliness of payment, penalties /interest levied resons therefore

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