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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 or free supply of physical aids and other purposes for the employees and their family.
Units or Establishments having 10 or more employees, and drawing the wages of up to Rs.15,000 a month are required to be registered for ESIC under the ESI Act 1948. The contributions raised from covered employees and their employers at the fixed percentage of wages, fund the benefits provided by the scheme. 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 contributes 1/8th share cost of the medical benefits.
All Establishments and Factories employing more than 10 employees are mandatorily required to apply for ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them.
Choose ESI Registration because :
Hotels or restaurants not having any manufacturing activity, but only providing service.
Roadside Motor Transport Establishments
Private Educational Institutions and Medical Institutions
In some states the minimum employees required for coverage is for 20 or more. A few State Governments have not extended scheme to include Medical & Educational Institutions.
4.75% by the employer
1.75% by the employee
Payment: 15th of every month
Returns: May 11th and November 11th
Payment: 15th of every month
Returns: May 25th of every month