As well as providing health benefits to employees, Employee State Insurance (ESI) is a self-funding social security system. A number of benefits are provided to employees and their families. These include sickness benefits, disability benefits, medical benefits, funeral expenses reimbursement, and others. Employers with ten or more employees (in some states, the limit is extended to twenty employees) earning a maximum salary of Rs. 21,000 per month are required to register with ESIC in order to benefit from the scheme’s benefits.
The Employee State Insurance (ESI) Act of 1948 governs the ESI scheme. The ESIC Act, 1948 governs and regulates the Employee State Insurance scheme. An autonomous body formally formed by the Ministry of Labour and Employment, the Employee State Insurance Corporation regulates all activities related to the Employee State Insurance scheme in India.
A registration with ESIC is mandatory for employers that have more than ten employees and earn a maximum of Rs. 21,000 per month. Employees or workers who obtain ESI Registration are entitled to monetary, medical, and other benefits provided by their employers.
The Benefits of ESIC Registration in India
ESIC Registration has the following benefits:
- Benefits include comprehensive medical care.
- Dependents are included in it.
- At different ESI hospitals and dispensaries, ESI Registration can be used easily.
- If we make any payments, we will compensate or reimburse you.
- Disability is also taken into account.
- Hospitals and dispensaries are available at ESI.
- Your sickness benefits are 70 percent of your salary. In addition, you are entitled to a similar benefit if you are ill for more than ninety-one days in a year.
- Maternity leaves are paid.
- If the insured dies, the insurance company pays his or her dependents 90% of the insured’s salary.
- The deceased’s funeral expenses are covered.
- A Permanent Disablement insurance benefit pays 90 percent of the insured’s monthly income.
Frequently Asked Questions about ESIC Registration
- ESI can be registered by individuals in what ways?
An applicant must provide the employer with ESI forms and photographs of his/her family members in order to obtain ESI registration. There needs to be an employer’s registration with ESIC (Employee State Insurance Corporation). As part of the registration process, the employee will receive an ESI card as well.
- What is the minimum number of employees needed to obtain ESIC registration?
If you employ more than 10 employees, and your salary does not exceed Rs 15000, you must register with ESIC. For some states, however, the employee strength is extended to 20.
- Does India require ESI registration?
For companies with more than ten employees, ESI Registration is mandatory.
- How do I get ESIC Registration in India?
To obtain ESIC Registration, the following documents are required: Form 01; employee details; copies of MOAs and AOAs; a copy of the PAN Card; latest bank statements; GST Registration; Shops and Establishments Registration; PAN and Aadhar of Employees; a Declaration Form for each employee; and the Nominee Details for the insured.