Hello All,
The Employees' State Insurance Corporation (ESIC) today raised the monthly wage threshold to Rs 21,000 from the current Rs 15,000 for coverage under its health insurance scheme.
In a meeting held today, the ESIC board also decided to give an option to existing insured persons to continue membership even if their wage breaches the ceiling of Rs 21,000 per month.
At present, all those insured under the ESIC scheme lose their membership of ESIC as well as that of the insurance cover if their wage overshoots the ceiling.
"ESIC has raised the threshold wage limit from Rs 15,000 to Rs 21,000," Labour Minister Bandaru Dattatreya told PTI after the board meeting of ESIC here. The Labour Minister is the Chairman of the ESIC Board.
Both the decisions will be implemented from October 1. Dattatreya added that the move of raising the threshold will help bring in an additional 50 lakh members to ESIC.
At present, ESIC has 2.6 crore insured persons, which covers over 10 crore people, assuming four members of a family.
The minister also said there is a plan to increase the wage threshold for retirement fund body EPFO subscribers, and it may be considered at the next meeting of the Central Board of Trustees (CBT).
At present, the wage threshold is Rs 15,000 per month for coverage under its social security scheme.
Regards, Rakesh Sharma
From India, Chandigarh
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16The Employees' State Insurance Corporation (ESIC) today raised the monthly wage threshold to Rs 21,000 from the current Rs 15,000 for coverage under its health insurance scheme.
In a meeting held today, the ESIC board also decided to give an option to existing insured persons to continue membership even if their wage breaches the ceiling of Rs 21,000 per month.
At present, all those insured under the ESIC scheme lose their membership of ESIC as well as that of the insurance cover if their wage overshoots the ceiling.
"ESIC has raised the threshold wage limit from Rs 15,000 to Rs 21,000," Labour Minister Bandaru Dattatreya told PTI after the board meeting of ESIC here. The Labour Minister is the Chairman of the ESIC Board.
Both the decisions will be implemented from October 1. Dattatreya added that the move of raising the threshold will help bring in an additional 50 lakh members to ESIC.
At present, ESIC has 2.6 crore insured persons, which covers over 10 crore people, assuming four members of a family.
The minister also said there is a plan to increase the wage threshold for retirement fund body EPFO subscribers, and it may be considered at the next meeting of the Central Board of Trustees (CBT).
At present, the wage threshold is Rs 15,000 per month for coverage under its social security scheme.
Regards, Rakesh Sharma
From India, Chandigarh
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Dear All,
In my opinion, medium-scale industries cannot bear the Employer Share, as it is around Rs. 998 per month, resulting in an annual increase of approximately Rs. 11,976. It is possible that in the future, the Labour Ministry may also raise the EPF wage limit from Rs. 15,000 to Rs. 21,000 or Rs. 25,000, which could pose an even bigger issue for the industries.
Thank you.
From India, Surat
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In my opinion, medium-scale industries cannot bear the Employer Share, as it is around Rs. 998 per month, resulting in an annual increase of approximately Rs. 11,976. It is possible that in the future, the Labour Ministry may also raise the EPF wage limit from Rs. 15,000 to Rs. 21,000 or Rs. 25,000, which could pose an even bigger issue for the industries.
Thank you.
From India, Surat
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Normally, in such cases, few employers will try to revise the CTC of employees to avoid the liability of the employer. This will have a huge impact on employees' take-home salary.
With Regards,
Sathya Narayana Y S
From India, Bengaluru
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With Regards,
Sathya Narayana Y S
From India, Bengaluru
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Mr. SOUBHIK KUMAR GHOSH Ji, thank you for providing information regarding the enhancement of the wage ceiling under the ESI Act, 1948 to Rs. 21,000/-. I request you to kindly place on record a copy of the gazette notification enhancing the said wage ceiling for the kind information of experts, seniors, and other members in this forum. With thanks.
From India, Noida
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From India, Noida
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Dear All
ESIC raises wage threshold to Rs. 21,000 from Rs.15,000
The Employees’ State Insurance Corporation on 06.09.2016 has raised the monthly wage threshold to Rs. 21,000, from the current Rs. 15,000, for coverage under its health insurance scheme which will be effective from 1st October, 2016.
The copy is circular awaited from ESIC and will be shared soon
From India, Delhi
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ESIC raises wage threshold to Rs. 21,000 from Rs.15,000
The Employees’ State Insurance Corporation on 06.09.2016 has raised the monthly wage threshold to Rs. 21,000, from the current Rs. 15,000, for coverage under its health insurance scheme which will be effective from 1st October, 2016.
The copy is circular awaited from ESIC and will be shared soon
From India, Delhi
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The limit increase is welcome, but there is no facility given by ESIC Corporation in our Ahmedabad rural area, i.e., Changodar. There is no hospital. After the implementation of two years, one small dispensary is there. In office hours, they can only provide first aid treatment. If the Government will provide hospital facilities in the implemented area, then raise the limit. Otherwise, it is a burden only to the employer.
Thanks,
J. L. Trivedi
Ahmedabad
From India, Ahmadabad
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Thanks,
J. L. Trivedi
Ahmedabad
From India, Ahmadabad
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I have one doubt: If an employee has a monthly salary above Rs. 21,000 but was previously covered by this ceiling, and if they wish to continue their membership, will they be required to contribute the same amount?
From India, Chennai
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From India, Chennai
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Please let me know; if employee opt to continue his membership; will he & employer need to contribute in the same way as it happens for employee with wages less than 21000?
From India, Chennai
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From India, Chennai
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Please let me know; if employee opt to continue his membership; will he & employer need to contribute in the same way as it happens for employee with wages less than 21000?
From India, Chennai
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From India, Chennai
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