Good morning all:
My company is a software development company and currently we have a strength of 15 employees. We do not have any PF,ESI,INSURANCE but as a hr i would like to provide some benefits to our employees. Can any one please suggest or advise me on group medical insurance or ESI or PF or EPF...
Thanks in advance,,
Soumya
From India, Mohali
1My company is a software development company and currently we have a strength of 15 employees. We do not have any PF,ESI,INSURANCE but as a hr i would like to provide some benefits to our employees. Can any one please suggest or advise me on group medical insurance or ESI or PF or EPF...
Thanks in advance,,
Soumya
From India, Mohali
Dear John & Sowmya,
You both have the same query. As you said your org is small and looking for a expansion in future, there are few things which you need to do -
1) PF should be provided to all the employees. It should be visible in employees salary slips and your company should register it under the Company Act 1956. Your owners shud check under which act they come. 12% will be employees contribution ( to be deducted from the gross)and equally from employer also ( to be shown in the CTC).
2) ESI is important for all the employees who come under 15000 pm Gross. 4.75 % of gross is employers contribution (to be shown in the CTC) and 1.75% of gross is employees contribution ( to be deducted from the gross).
And also need to check the Gratuity also because it is also important to provide to all the employees. Please check Gratuity Act. Also check Minimum Wages of your State. All employees should get it.
Any further query do ask.
Regards,
Shalini
From India, Bangalore
You both have the same query. As you said your org is small and looking for a expansion in future, there are few things which you need to do -
1) PF should be provided to all the employees. It should be visible in employees salary slips and your company should register it under the Company Act 1956. Your owners shud check under which act they come. 12% will be employees contribution ( to be deducted from the gross)and equally from employer also ( to be shown in the CTC).
2) ESI is important for all the employees who come under 15000 pm Gross. 4.75 % of gross is employers contribution (to be shown in the CTC) and 1.75% of gross is employees contribution ( to be deducted from the gross).
And also need to check the Gratuity also because it is also important to provide to all the employees. Please check Gratuity Act. Also check Minimum Wages of your State. All employees should get it.
Any further query do ask.
Regards,
Shalini
From India, Bangalore
Hi Rupendra,
Pl be informed that Employer is not bound to get Medical insurance for the employees however, yes if any accident or injury happened with any employee in the office/factory premises, employer is completely liable for his medical treatment.
Secondly, ESI is a compliance part which have to be fulfill according to the salary slab & medical amount showed in salary upto 1250/- per month is for tax exemption.
Thanks
From India, Delhi
Pl be informed that Employer is not bound to get Medical insurance for the employees however, yes if any accident or injury happened with any employee in the office/factory premises, employer is completely liable for his medical treatment.
Secondly, ESI is a compliance part which have to be fulfill according to the salary slab & medical amount showed in salary upto 1250/- per month is for tax exemption.
Thanks
From India, Delhi
Dears,
Like John and Soumya, I am also facing same situation. I am working as a Administrative in newly built organization. Presently we are only 5, and hiring would start soon.
Further, I would like to inform you that we do not fall under ESI act as per salary paid to staff. But for employee's benifit we are planning for Insurance Policy.
We are not providing Medical Allowance to employees neither its mention is salary slip.Following is my query:
1) Can any one suggest me govt. insurance is better or Pvt. insurance? Can you name any better insurance company
2) Can employer can deduct salary for Sick leave? or its Paid leave?
3) or without providing Health Insurance facility to employees, we can give specific medical allowance every month to employees and same would be mention in their salary slips.
4) Or if Sick leave is paid leave then No need of medical allowance and Health Insurance?
From India, New Delhi
Like John and Soumya, I am also facing same situation. I am working as a Administrative in newly built organization. Presently we are only 5, and hiring would start soon.
Further, I would like to inform you that we do not fall under ESI act as per salary paid to staff. But for employee's benifit we are planning for Insurance Policy.
We are not providing Medical Allowance to employees neither its mention is salary slip.Following is my query:
1) Can any one suggest me govt. insurance is better or Pvt. insurance? Can you name any better insurance company
2) Can employer can deduct salary for Sick leave? or its Paid leave?
3) or without providing Health Insurance facility to employees, we can give specific medical allowance every month to employees and same would be mention in their salary slips.
4) Or if Sick leave is paid leave then No need of medical allowance and Health Insurance?
From India, New Delhi
Dear All,
Still i have a doubt that E.S.I is applicable upto 1.8 Lac per anum( package)employees as per my knowledge so companies in order to cover health insurance for all they are going for medical insurance.Is this a right thing to do? Kindly clarify. I hope seniors will give me their valuable suggestions on this.
Regards,
Sai kumar.
From India, Hyderabad
Still i have a doubt that E.S.I is applicable upto 1.8 Lac per anum( package)employees as per my knowledge so companies in order to cover health insurance for all they are going for medical insurance.Is this a right thing to do? Kindly clarify. I hope seniors will give me their valuable suggestions on this.
Regards,
Sai kumar.
From India, Hyderabad
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.
Medical Benefit For Dependent Under The Employees State Insurance (Central) Rules,1950 Increased.pdf
Job Description - Banking & Insurance.doc