The Employees' Provident Fund Organisation, India, is one of the largest provident fund
institutions in the world in terms of members and amount of financial transactions that
it has been carrying on.
The enactment of Employees’ State Insurance Act, 1948 anticipate an integrated
need based on social insurance scheme that would protect the interest of workers in
crises such as sickness, maternity, temporary or permanent physical disablement, and
death due to employment injury leading to loss of wages or earning capacity. The Act
also guarantees to render fairly good medical care to workers and their immediate dependants.
Employees registered under the ESI enjoy a range of benefits under the scheme.
Employee 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 enjoy sick pay benefits. Registration with ESI provides the employee
with tremendous benefits and improves worker morale and retention. IndiaFilings can help your
Company obtain and manage ESI Registration.
The Act was originally applicable to those non-seasonal factories using power and employing
20 or more persons; but it is now applicable to all non-seasonal power using factories
employing 10 or more persons and all non-power using factories employing 20 or more persons.
E.S.I. Scheme being contributory in nature, all the employees in the
factories or establishments to which the Act applies shall be insured
in a manner provided by the Act .The contribution payable to the Corporation
in respect of an employee shall include employer’s contribution and employee’s
contribution at a prescribed rate.
Employees in receipt of a daily average wage up to Rs.50/- are granted exemption
from payment of contribution. However employers will not get such exemptions from
their contribution in respect of these employees.
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.
Employee's State Insurance Corporation(ESI) is a self-ESI provides employees registered 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 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.
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