Hi Friends,
We are small design engineering Company.
Have a query, ESIC is mandatory for people whose salary (wages) is upto Rs. 15,000/-. So we as a company have enrolled everyone in the Group medical insurance from United India Insurance. So we end up paying for the ESIC employee contribution 1.75% and employer 4.25% thats about 6% and also the group medical insurance.
Can we do away with the ESIC? Is there anyway we can opt out of ESIC?
From India, Bangalore
We are small design engineering Company.
Have a query, ESIC is mandatory for people whose salary (wages) is upto Rs. 15,000/-. So we as a company have enrolled everyone in the Group medical insurance from United India Insurance. So we end up paying for the ESIC employee contribution 1.75% and employer 4.25% thats about 6% and also the group medical insurance.
Can we do away with the ESIC? Is there anyway we can opt out of ESIC?
From India, Bangalore
ESI contribution is a statutory obligation of the employer. Employer's contribution is 4.75% and not 4.25% of gross wages.
Mediclaim is not a substitute for ESI. You cant do away with ESI contributions for employees getting gross wages upto 15000/-
regards,
Kamal
From India, Pune
173Mediclaim is not a substitute for ESI. You cant do away with ESI contributions for employees getting gross wages upto 15000/-
regards,
Kamal
From India, Pune
Thanks Kamal and correcting me on the % deduction.
I know it is mandatory, just checking with you and the group if anyone has tried to do away with it, by writing to ESCI or taking it up with them in some way or the other.
From India, Bangalore
I know it is mandatory, just checking with you and the group if anyone has tried to do away with it, by writing to ESCI or taking it up with them in some way or the other.
From India, Bangalore
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