Fellow CiteHR members have given you a lot of advice; further, I want to highlight a few points.
- In the case of India, employers do not have to set up a Provident Fund. There is an Employees Provident Fund Organisation set up by the government under the Provident Fund Act, and employers have to register with EPFO and complete all the compliances and payments of contributions. This registration is not very difficult, and one can use the services of consultants or even do it on their own.
- Apart from PF Registration, there will be other registrations and compliances needed such as ESIC, Professional Tax, Factories Act, Shop & Establishments Act, etc. I suggest you ensure all compliances from day one. Maybe you can negotiate a package with a legal consultant for all compliances.
Thanks & Regards