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 MinisterBandaru Dattatreya told PTI after the board meeting of ESIC here. 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 in 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
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 MinisterBandaru Dattatreya told PTI after the board meeting of ESIC here. 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 in 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
Dear All,
As per my opinion all the medium scale industries can't bear the Employer Share as it's around Re.998/- per month, and around Re. 11,976/- per anum will increase. Might in future Labour Ministry also increase the EPF Wage limit from Rs. 15000/- to 21000/- or 25000/- which will be even biggest issue for the Industries.
From India, Surat
As per my opinion all the medium scale industries can't bear the Employer Share as it's around Re.998/- per month, and around Re. 11,976/- per anum will increase. Might in future Labour Ministry also increase the EPF Wage limit from Rs. 15000/- to 21000/- or 25000/- which will be even biggest issue for the Industries.
From India, Surat
Normally in such cases few employers will try to revise the CTC of employees in turn to avoid the liability of employer this will have huge impact on employees take home salary.
With Regards
Sathya Narayana Y S
From India, Bengaluru
With Regards
Sathya Narayana Y S
From India, Bengaluru
Mr. SOUBHIK KUMAR GHOSH ji , thank you for providing information regarding enhancement of wage ceiling under ESI Act, 1948 to Rs. 21000/-. I will request you to please place on record, a copy of gazette notification enhancing said wage ceiling for kind information of experts and seniors and other members in this forum. With thanks.
From India, Noida
From India, Noida
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
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
The limit increase is welcome but there is no facility given by E S I C corporation in our Ahmedabad rural area i e changodar. There is no hospital after implementation of two yer one small dispensary is there in office hrs they can do only first aid treatment if Government will give hospital facility in implemented area then raise the Limit otherwise it is burden to employer only
Thanks
J L Trivedi
Ahmedabad
From India, Ahmadabad
Thanks
J L Trivedi
Ahmedabad
From India, Ahmadabad
I have one doubt that: employee have monthly salary above Rs 21000 but before he was covered in this ceiling, and if he wants to continue his membership then will he be required to contribute for same?
From India, Chennai
From India, Chennai
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
From India, Chennai
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
From India, Chennai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
ESIC Wage Limit Increased.JPG
ESIC Wage Ceiling enhancement Notification.pd f
ESIC approves enhancement of wage ceiling from 10.doc