Employee’s State Insurance (ESI) is a self-financing scheme for Indian workers which cover health insurance and social security. ESI functions as an independent corporation and comes under Ministry of Labor and Employment in India. The ESI Corporation thus manages the funds which regulated by the guidelines and regulations of the ESI Act. 1948.
This act monitors the provision of cash and medical benefits to employees and their families through their comprehensive network of hospitals and dispensaries throughout India. Know more esi health insurance
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.
All Establishments and Factories employing more than 10 employees are required to mandatorily apply for ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them.
Choose ESI Registration because :
Provides complete medical care to employees
Includes employee’s dependents also
Mandatory for units with >10 employees
Benefits of ESI Registration for both Employer & Employee
Employees registered under the ESI scheme are entitled to a range of benefits. Employees and their families can avail medical treatment and attendance including not only medical but surgical and obstetric treatment as well. Supply of medicines, super specialty consultations, etc. can also be availed. Sick pay benefits also included. Thus, it advised for employees to register under ESI scheme.
We at Venture care provide esi online registration Services and complete compliance .