Employees' State Insurance (ESI) is self-financing social security and health insurance scheme for the Indian Workers, which is an autonomous corporation governed by Ministry of Labour and Employment. This Fund of ESI is managed by Employee State Insurance Corporation (ESIC) and its rules regulations. All entities registered under ESI registration must file ESI returns which is due half yearly.
Applicability of ESI?
The ESIC is applicable on all the establishments having 10 or more workers and is beneficial to all the employees earning Rs.15, 000/- or less per month as wages, employer must contribute 4.75 percent and employee must contributes 1.75 percent towards ESI.
Benefits of ESIC
The Employees registered under ESIC are entitled to medical treatment for themselves and their dependents, unemployment cash benefits and maternity leaves for women employees.
How to file ESIC return?
Following points needs to be considered for ESI Return:
Log in Employer Portal using 17 digit Employer digit code.
Go to monthly contribution section.
All the details of the employer contribution will be displayed.
Verify the details.
If there are any short payments in respect of employees then complete the dues.
Do Self Certification under monthly contribution section, then check mark the declaration and submit the return.
Employee's State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers. ESI Registration is mandatory for employers having 10 or more employee.
ESI wage limit has been increased to Rs. 21000 from Rs 15000 per month with effect from 01st January 2017.
Employee has to contribute 1.75% of pay and employer 4.75% of pay to the ESIC in return for certain benefits like Maternity benefit, Disablement benefit, Sickness benefit etc.
No you can't withdraw any amount from ESIC.
Yes, ESI is mandatory for employees.
Every month, eligible employees who fall under the ceiling of Rs.25000 will contribute 1.75% of their salary and employers contribute 4.75% to the ESI corpus..
Contributions paid against one insurance number cannot be transferred to another number. Because, every insurance number is unique and issued to a particular person. It’s like PAN which cannot be transferred. ESIC always advice to continue same number even if person is changing employment or state.