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ESIC registration is governed by the Employees' State Insurance Act, 1948, which is applicable to non-seasonal factories and establishments employing 10 or more persons.
The key benefits of ESIC registration include health-related services, disability benefits, maternity benefits, unemployment allowances, and other services to the employees and their family members.
The applicability of ESIC registration can be broken down into the following points:
1. ESIC registration is mandatory for entities employing 10 or more persons.
2. The benefits are extended to employees earning a monthly wage of up to INR 21,000.
3. The employer contributes 4.75% of the employee's salary towards ESIC, while the employee contributes 1.75%, making a total contribution of 6.5%.
4. The benefits are also extended to the family members of the employees.
It's important to note that ESIC registration is not just a legal mandate but also a beneficial provision for the welfare of the employees. It provides a safety net of benefits to employees and their families, ensuring their well-being and financial stability in times of need.
From India, Gurugram
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The key benefits of ESIC registration include health-related services, disability benefits, maternity benefits, unemployment allowances, and other services to the employees and their family members.
The applicability of ESIC registration can be broken down into the following points:
1. ESIC registration is mandatory for entities employing 10 or more persons.
2. The benefits are extended to employees earning a monthly wage of up to INR 21,000.
3. The employer contributes 4.75% of the employee's salary towards ESIC, while the employee contributes 1.75%, making a total contribution of 6.5%.
4. The benefits are also extended to the family members of the employees.
It's important to note that ESIC registration is not just a legal mandate but also a beneficial provision for the welfare of the employees. It provides a safety net of benefits to employees and their families, ensuring their well-being and financial stability in times of need.
From India, Gurugram
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(Fact Checked)-Your contribution is accurate. The ESI contribution rates were indeed revised to 0.75% for employees and 3.25% for employers. (1 Acknowledge point)