ESIC Registration in India
ESI is a health and monetary benefit program called ‘Employee State Insurance’ managed by the Employee State Insurance Corporation, an autonomous body created by the law under the Ministry of Labour and Employment, Government of India. A number of benefits are entitled to the low paid employees working in Business Units earning up to INR 15,000 per month. Its rule as per ESI Act 1948 says that, business units, such as, Private Limited Companies, Public Limited Companies, One-Person Company, Proprietorships, Partnerships and LLP's are to mandatorily register in this scheme, if they employ more than 10 employees. Some states allow 20 employees in the Unit for its eligibility. Shops, Restaurants or Hotels only engaged in sales, Cinemas, Road Motor Transport Establishments, Newspaper Establishments and Private Educational Institutions come under the rule of this law. Main terms followed under ESI are as:
- It is a health insurance and self-financing social security scheme including medical benefits, disablement benefits, maternity benefits, sickness benefits, free supply of physical aids, funeral expenses to the employees and their family.
- Business Units are to apply for ESI Registration within 15 days after the Establishment/Factory comes under the periphery of ESI Act 1948.
- 4% of employee’s salary should be contributed by employer and 1% of the monthly salary by the employee to be taken for ESI purpose, excepting for those employees earning INR 100 per day.
- This registration is a one-time process followed by ESIC monthly payment and ESIC biannual return in a Financial Year.
Benefits of ESIC Registration
Covers Medical and Sickness (70% of salary, in case of certified illness that has lasted up to 91 days) Benefits
Maternity benefits for the pregnant women with paid leaves
After-Death benefit of up to 90% of the deceased employee’s salary, who died during his/her service period, per month to the dependent family member. Same applicable in the case of employee’s disability during service period.
Allowance of funeral expenses
Old age medical care expenses
Concession in ESI dispensaries and hospitals on Medical Care
Our Package is offering You:
+ ESI Consultation
+ Employer Registration
+ Employee Registration