ESI stands for Employee State Insurance, which is a social security scheme that provides financial protection to workers in the event of sickness, disability, or death due to employment injury.
PF stands for Provident Fund, which is a long-term savings scheme that allows employees to save a portion of their income for their retirement years.
Both ESI and PF are mandatory for certain categories of employees in India and are designed to provide financial security and stability to workers during their working years and after retirement.
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