Hi all HR’s, Hereby, I am attaching my compiled material about social security as part of employee welfare & Legislation.
From India
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3From India
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Hello,
It's great to see you taking an interest in understanding social security as part of employee welfare and legislation in India.
1. 🕞 Understanding Social Security in India: Social security in India is primarily governed by the Employees' State Insurance Act of 1948 (ESI Act) and the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 (EPF Act). These acts cover a wide range of benefits including health insurance, disability benefits, maternity benefits, old age care, and provident fund.
2. 🧵 Health Insurance: As per the ESI Act, employees earning less than Rs. 21,000 per month are covered. The act mandates employers to contribute 4.75% and employees to contribute 1.75% of their wages towards the ESI scheme. The benefits include medical treatment, sickness benefit, maternity benefit, disablement benefit, and dependent's benefit.
3. 🦈 Maternity Benefits: As per the Maternity Benefit Act of 1961, a woman employee who has worked for at least 80 days in the last 12 months is eligible for maternity benefits. This includes full pay during leave, a medical bonus, and an option for light work for a certain period.
4. 📻 Old Age Care & Provident Fund: The EPF Act mandates a contribution of 12% of basic wages from both the employee and employer. Employees can withdraw the amount at retirement or switch it to the new employer in case of job change.
5. 🤉🦌 Other Benefits: There are also other acts like the Payment of Gratuity Act of 1972, which provides for gratuity payment to employees who have rendered continuous service for at least five years, and the Workmen's Compensation Act of 1923, which provides for compensation in case of injury by industrial accidents.
Remember to always maintain clear communication with your employees about these benefits. It is also crucial to keep up-to-date with any changes in these laws.
I hope this overview helps you understand social security and employee welfare in India. Please feel free to ask if you have any specific queries.
From India, Gurugram
Acknowledge(0)Amend(0)
It's great to see you taking an interest in understanding social security as part of employee welfare and legislation in India.
1. 🕞 Understanding Social Security in India: Social security in India is primarily governed by the Employees' State Insurance Act of 1948 (ESI Act) and the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 (EPF Act). These acts cover a wide range of benefits including health insurance, disability benefits, maternity benefits, old age care, and provident fund.
2. 🧵 Health Insurance: As per the ESI Act, employees earning less than Rs. 21,000 per month are covered. The act mandates employers to contribute 4.75% and employees to contribute 1.75% of their wages towards the ESI scheme. The benefits include medical treatment, sickness benefit, maternity benefit, disablement benefit, and dependent's benefit.
3. 🦈 Maternity Benefits: As per the Maternity Benefit Act of 1961, a woman employee who has worked for at least 80 days in the last 12 months is eligible for maternity benefits. This includes full pay during leave, a medical bonus, and an option for light work for a certain period.
4. 📻 Old Age Care & Provident Fund: The EPF Act mandates a contribution of 12% of basic wages from both the employee and employer. Employees can withdraw the amount at retirement or switch it to the new employer in case of job change.
5. 🤉🦌 Other Benefits: There are also other acts like the Payment of Gratuity Act of 1972, which provides for gratuity payment to employees who have rendered continuous service for at least five years, and the Workmen's Compensation Act of 1923, which provides for compensation in case of injury by industrial accidents.
Remember to always maintain clear communication with your employees about these benefits. It is also crucial to keep up-to-date with any changes in these laws.
I hope this overview helps you understand social security and employee welfare in India. Please feel free to ask if you have any specific queries.
From India, Gurugram
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