Employee's State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers. For all the employees earning INR 15000 or less per month as wages, the employer contributes 4.75 percentages and employee contributes 1.75 percentages and the total share comes to 6.5 percentage. This fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein by the ESI Act 1948, which oversees the provisions of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. But most of the dispensaries and hospitals are run by concerned state governments. Employees registered under the ESI enjoy a range of benefits under the scheme. They enjoy medical attendance and treatment for the person insured and their families including full range of medical, surgical and obstetric treatment, supply of all drugs, ambulance services, super-specialty consultation, etc., In addition, to the medical care, insured persons also get the benefit of sick pay benefits. Registration with ESI provides the employee with tremendous benefits and improves worker morale and retention. Venture-Care here helps your Company to obtain and manage ESI Registration with ease.
Employee's State Insurance Corporation (ESI) is a self-financing social security and health insurance scheme for Indian workers. The scheme provides Employees with a comprehensive Social Security Scheme for protecting the employees during sickness, injury or disability.
Employee's State Insurance Corporation (ESI) provides employees, who have registered under the scheme, with a host of medical and sickness benefits. Employees registered under the scheme can avail medical facilities and are also entitled for sick pay benefits
ESI Registration is for Employers having more than 10 employees. The Employer must contribute 4.75% of the Employees’ wages towards ESI. Once, registered the organization will be allotted a 17 digit unique identification code
ESI contributions must be made by the employer for all employees having a salary of less than Rs.15,000 per month. The employer must contribute 4.75% and employee must contribute 1.75% of the wages for ESI.
Organizations under ESI coverage must file annual return showing the changes if any during the preceding year. Return of contributions enclosing copy of all ESI contributions paid must be submitted once every six months.
ESI Contributions must be paid by the employer into a bank authorized by the Corporation within 21 days of the last day of the calendar month in which the contribution is due.