The Employees State Insurance

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The Employees State Insurance

Employee State Insurance (ESI) is a scheme under The Employees’ State Insurance Act, 1948 provided by the Indian Government to provide for medical, monetary and other similar advantages to workers. ESI is regulated and governed under the autonomous authority, namely the Employee State Insurance Corporation commonly abbreviated as ESIC. An Act to provide for certain benefits to employees in case of sickness, maternity and employment injury and to make provision for certain other matters in relation thereto.

The ESIC is applicable on all the establishments having 10 or more workers and is beneficial to all the employees earning Rs.21,000 /- or less per month as wages.

Employer required to contribute 3.25 percent and employee must contributes 0.75 percent towards ESI.

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Some of the benefits of ESI Registration are :

Sickness benefits at the rate of 70% of average daily wages in cash during medical leave, upto 91 days in two consecutive benefit periods
Medical Benefits to an employee and his family members from day one of entering into insurable employment.
Maternity Benefit to the women who are pregnant, ESIC provides 100% of average daily wages in cash up to 26 weeks in confinement and 6 week in case of miscarriage, during maternity leave and 12 weeks for commissioning mother and adopting mother
ESIC provides continuous monthly payment till injury lasts for temporary disablement and for whole life for permanent disablement
If the death of the employee happens while on work – 90% of the salary is given to his dependents every month after the death of the employee
ESIC Provides monthly cash allowance for a duration of maximum 24 months in case of involuntary loss of employment or permanent invalidity due to non-employment injury

Documents Required

It is very easy to register this type of business as very few documents are needed. The required documents include:

PAN card of the company
COI, MOA & AOA of the company
Labour certificate copy
Cancelled cheque
Passport size photo of all the Directors
List of names of the employees
Proof of Address(Power bill, Municipal tax bill, Sale deed copy)
Rental Agreement or NOC .

Registration Duration

Registration/ coverage of ESIC takes the shortest time and can be completed within a min. of 1-3 working days. Despite registration taking the shortest time possible, this solely depends on government procedures and approvals during the time of your registration.