Provident Fund (P.F):

• Purpose:Provident Fund is a retirement savings scheme for employees, providing them with a lump sum amount at the time of retirement or resignation.

• Applicability: It is applicable to organizations with 20 or more employees, including contract workers in certain cases. It is governed by the Employees' Provident Funds and Miscellaneous Provisions Act, 1952

• Contributions: Both the employer and the employee contribute a fixed percentage (currently 12% each) of the employee's basic salary, dearness allowance, and retaining allowance, if any, towards the provident fund.

• Management: The Employees' Provident Fund Organization (EPFO), under the Ministry of Labour and Employment, manages and administers the Provident Fund scheme.

• Withdrawal: Employees can withdraw their provident fund balance upon retirement, resignation, or in case of certain specified conditions such as medical emergencies, housing, marriage, etc.

Employee State Insurance (ESI):

• Purpose:ESI provides medical and cash benefits to employees and their dependents in case of sickness, maternity, disablement, or death due to employment injury.

• Applicability: ESI is mandatory for organizations with 10 or more employees (in some states, it is applicable to establishments with even fewer employees). It is governed by the Employees' State Insurance Act, 1948.

• Contributions: The employer contributes 4.75% of the employee's wages, while the employee contributes 1.75% of their wages towards ESI.

• Management: The Employees' State Insurance Corporation (ESIC), under the Ministry of Labour and Employment, administers and manages the ESI scheme.

• Withdrawal: ESI provides comprehensive medical care to insured persons and their dependents, including outpatient treatment, hospitalization, maternity benefits, disability benefits, and dependents' benefits in case of the insured person's death.

Both P.F and ESI are aimed at ensuring social security and welfare of employees in India, providing financial stability during various contingencies such as retirement, illness, or injury. Employers are responsible for ensuring compliance with both schemes and must register their employees and make timely contributions to EPFO and ESIC respectively.