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What Is the ESIC Registration?

ESIC stands for Employees’ State Insurance Corporation. ESI is a self-financing health insurance and social security scheme mainly established for employees earning Rs. 21000 or less per month.

Enacted by the legislature, the Employees’ State Insurance Act, 1948, has introduced several schemes to provide various medical as well as cash benefits to employees and their families.

As per the provisions of the Employees’ State Insurance Act, 1948, it is mandatory for all companies with ten or more ten employees to obtain ESIC registration.

ESI is established under the Ministry of Labour and Employment, Government of India.

Contributions Of Entities To The ESI

Whether it’s an employee or employer, both are required to contribute to ESI to be eligible for availing the benefits provided under the scheme.

The contributions made by them are as follows:

Contribution Of Employees

Employees need to contribute 1.75% of their salary to the government. However, from 1st July 2019, the ESI contribution will reduce to 0.75%.

Contribution Of Employers

The total contribution from employers should be 4.75%, which is going to be reduced to 3.25% from 1st July 2019.

For Which Establishments, ESI Registration Is Mandatory?

We have enlisted below some establishments for which ESI registration is obligatory. They are as follows:

• Shops
• Cinemas
• Hotels or restaurants providing services but not involved in any manufacturing activity
• Roadside Motor Transport Establishments
• Newspaper Establishments
• Medical Institutions
• Educational Institutions (Private)

Benefits Of Obtaining ESIC Online Registration In India

ESIC was introduced to provide several benefits to the employees working under specific establishments. Some of them are as follows:

• Medical benefits to the employee and his/her family members;
• Maternity benefits to pregnant women (paid leaves)
• In any year, if the employee has any certified illness lasting for a maximum of 91 days, then he will be provided with sickness benefits at the rate of 70%.
• If the employee dies during the working hour, then 90% of his/her salary would be given to his/her dependent every month.
• The same applies in the case of any disability.
• Medical expenses for old-age care.
• Funeral expenses.