employees are most valuable assetESI Registration
Employees’ State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers.
Employee State Insurance Corporation
Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family.
Units or Establishments that have 10 or more employees, drawing the wages of up to Rs.15,000 a month are required to be registered for ESIC under the ESI Act 1948. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages. At present, covered employees contribute 1.75% of the wages to the ESIC and covered employers contribute 4.75% of the wages, payable to their employees. The state government also contribute 1/8th share cost of medical benefit.
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ESI REGISTRATION HIGHLIGHTS
Employee State insurance
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) is a self-ESI
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
ESI Registration for Employers having more than 10 employees. The Employer must contribute 4.75% of the Employees wages towards ESI. Once, registered the organization is allotted a 17 digit unique identification code.
Organizations under ESI coverage must file the annual return showing the changes if any during the preceding year. Return of contributions enclosing the copy of all ESI contributions paid must be submitted once every six months.
ESI Payment Deadline
ESI Contributions must be paid by the employer
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