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ESIC Registration
ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India
ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India
The Employees’ State Insurance (ESI) scheme is a vital social security and health insurance program in India. It offers financial assistance to employees across various industries, with a particular focus on those in the organized sector. Governed by the Employees’ State Insurance Act of 1948 and managed by the Employees’ State Insurance Corporation (ESIC), this scheme provides a range of benefits, including medical care, sickness benefits, maternity support, and more.
The Employees’ State Insurance Corporation (ESIC) is a statutory organization formed under the Employees’ State Insurance Act of 1948. It functions under the administrative supervision of the Ministry of Labour and Employment and is responsible for the implementation and management of the ESI scheme across the country. ESIC operates an extensive network of hospitals, dispensaries, and branch offices to ensure insured employees and their dependents receive the necessary healthcare services.
The governance structure of ESIC is designed to ensure efficient management of the ESI scheme. It is overseen by a Board of Directors comprising representatives from the central and state governments, employers, employees, medical professionals, and parliamentarians, ensuring balanced decision-making and effective administration.
ESIC is responsible for collecting contributions from both employers and employees, managing the ESI fund, and distributing benefits to insured individuals. It also oversees the establishment and maintenance of ESI hospitals and dispensaries, ensuring accessible medical care. Additionally, ESIC conducts inspections and supervises employer compliance with the ESI Act to uphold the scheme’s integrity and effectiveness.
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BASIC
₹3999+GST
EPF CODE
1ST MONTH CALL/EMAIL SUPPORT
1ST MONTH EMAIL SUPPORT OF ALL NOTIFICATIONS
DEDICATED EPF EXPERT FOR 1ST MONTH
CLASS 2 DIGITAL SIGNATURE (WITH 2 YEARS VALIDITY)
GET THIS PLAN @ ₹3999 PLUS GST
COMPOSITE
₹6999+GST
EPF CODE
ESI CODE
1ST MONTH CALL/ EMAIL SUPPORT
1 ST MONTH EMAIL SUPPORT OF ALL NOTIFICATIONS
DEDICATED EPF EXPERT FOR 1ST MONTH
CLASS 2 DIGITAL SIGNATURE (WITH 2 YEARS VALIDITY)
GET THIS PLAN @ ₹6999 PLUS GST
MASTER
₹8999+GST
EPF CODE
ESI CODE
3 MONTHS CALL/ EMAIL SUPPORT
3 MONTHS EMAIL SUPPORT OF ALL NOTIFICATIONS
DEDICATED EPF EXPERT FOR 3 MONTHS
1ST QUARTER CHALLAN PAYMENT SUPPORT
CLASS 2 DIGITAL SIGNATURE (WITH 2 YEARS VALIDITY)
GET THIS PLAN @ ₹8999 PLUS GST
ADVANTAGES of esic registration
This scheme is for Indian workers who are provided with a huge variety of medical, monetary and other benefits from the employer. Any Company having more than 10 employees) who have a maximum salary of RS.21000 has to mandatorily register itself with the ESIC. Further in the press conference held on 14.05.2020 finance minister has highlighted the following provisions of labor law code foe expansion of ESI coverage for benefit of workers:-
Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year
Medical Benefits
Medical benefits are given to the insured person & their family members (in some cases). These medical benefits are given in the form of patient treatment or attendance in the hospital or dispensary, clinic or other institution.
After death benefits
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. Funeral expenses are also given to the family.
Pregnancy & Maternity Benefit
Maternity Benefit for confinement/pregnancy for Twenty Six weeks, which is extendable by further one month on medical advice at the rate of full wage.
Disablement benefits
In case of disability of the employee for not less than 3 days shall be entitled to the benefits under this scheme.
To save interest
As per the Act, if the contribution by the employer is not deposited within the stipulated time, then an interest of 12% p.a. is levied.
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ESI registration acts as a protective shield for employees and their families, offering financial and medical security during challenging times. It functions under the Employee State Insurance Act and is administered by the Employee State Insurance Corporation (ESIC), which operates under the Ministry of Labour and Employment, Government of India. The primary goal of the scheme is to support workers by providing essential financial and healthcare benefits, recognizing their vital role in the nation's development.
ESIC Registration Eligibility
→ Establishment Size
Any establishment with 10 or more employees (or 20 employees in certain states) must register under the ESI scheme. The minimum employee threshold may vary depending on the type of establishment and state regulations.
→ Employee Income
Employees earning a gross monthly salary of up to ₹21,000 (or ₹25,000 for employees with disabilities) are eligible for ESI coverage. It is the employer’s responsibility to ensure that all eligible employees are enrolled in the scheme.
→ Contribution Rates
Employers contribute 4.75% of an employee's wages towards the ESI fund, while employees contribute 1.75% of their wages.
Applicability of the ESI Scheme
The Employees' State Insurance (ESI) Act applies to non-seasonal factories with a workforce of 10 or more employees. Additionally, it extends to various establishments, including shops, hotels, restaurants, cinemas, transport services, media organizations, private hospitals, educational institutions, and municipal bodies, employing 10 or more workers, including contract and casual employees, as per Section 1(5). The scheme is implemented regionally under the supervision of state governments.
The following establishments fall under the scope of the ESI Act:
Shops and commercial establishments
Hotels and restaurants
Road motor transport services
Cinemas, including preview theatres
Newspaper and media establishments
Insurance companies
Non-banking financial companies (NBFCs)
Port trusts and airport authorities
Warehousing establishments with 20 or more employees
Organizations under the jurisdiction of the Central Government
What is an ESIC Challan?
An ESIC challan is an e-payment document issued by the Employee State Insurance Corporation (ESIC) to facilitate the collection and remittance of Employee State Insurance (ESI) contributions by employers. It simplifies the payment process, ensuring accuracy and efficiency for both employers and employees. With the option of ESIC challan payment online, employers can make their contributions conveniently without the hassle of manual submissions.
An ESIC challan allows employers to submit ESI contributions effortlessly. It requires essential details such as employee name, code, contribution amount, payment type, and date. The ability to track and process payments online ensures timely compliance with ESIC regulations. Opting for ESIC challan payment online further streamlines this process, reducing paperwork and saving time.
How does the ESIC challan streamline the collection and remittance of ESI payments for employers?
The ESIC challan simplifies the process of collecting and remitting ESI contributions. Employers can avoid lengthy manual procedures by using the ESIC challan payment online system, which automates transactions and ensures faster processing. This digital approach eliminates paperwork, making it easier for businesses to comply with ESIC requirements.
ESIC challan payment online?
Generating and submitting an ESIC challan is a straightforward process. Employers can access the challan through the ESIC portal, enter the necessary details, and complete the transaction via ESIC challan payment online. To authenticate the payment, they must provide an approval PIN before final submission. This seamless online method ensures timely payments and compliance with ESIC regulations.
Benefits of ESI
1. Health Insurance & Social Security Benefits
The ESI scheme acts as a health insurance program, ensuring employees and their dependents receive necessary medical care without financial strain. It covers outpatient consultations, inpatient treatment, specialist care, and diagnostics at ESI hospitals and dispensaries, either free of cost or at minimal charges. By providing access to quality healthcare, ESI helps prevent disease complications and ensures better health outcomes. Employers can also manage their contributions seamlessly through ESIC challan payment online, ensuring timely compliance with ESI regulations.
2. Financial Protection
ESI offers monetary support to workers during medical emergencies, ensuring financial stability when they cannot work. It provides sickness benefits covering 70% of wages for up to 91 days, maternity benefits granting 100% of wages for 26 weeks, and disability benefits compensating workers for temporary or permanent work-related injuries. These financial aids help employees manage their living expenses and recovery costs effectively.
3.Workplace Safety & Compliance
By mandating employer contributions to the ESI fund, the scheme incentivizes businesses to uphold workplace safety and minimize risks. It ensures compliance with labor laws, holding employers accountable for maintaining a safe work environment. Failure to adhere to these regulations can result in penalties or legal action, reinforcing the importance of employee well-being and occupational health standards.
4. Supporting the Health & Well-being of Families
Beyond employees, ESI extends medical benefits to their dependents, including spouses, children, and parents. It covers essential healthcare services such as consultations, hospitalizations, medications, and transport for treatment. In case of an employee’s death due to an occupational hazard, ESI provides financial aid to dependents, easing the burden of healthcare expenses and ensuring family well-being. Employers can ensure uninterrupted access to these benefits through ESIC challan payment Online, facilitating prompt and hassle-free contribution submissions
5. Maternity Benefits
A pregnant working woman who has been covered under the ESI scheme for at least nine months before the expected delivery date may qualify for maternity benefits. This includes full wage compensation for the entire maternity leave period, typically lasting 26 weeks, with the possibility of an extension if medically advised. The benefit also covers conditions requiring medical supervision, miscarriages, and temporary disabilities arising from pregnancy or childbirth.
Effortlessly Handle Your ESIC Challan Payment Online Get Started Now
You are in the correct area if you are searching for a dependable and fast approach to handling your Esic Challan Payment Online. Given the changing digital terrain, we see the need for streamlining procedures for companies and people. Although it may appear daunting, employees' State Insurance Corporation (ESIC) registration and challan payment are not unmanaging.
Our web ESIC payment systems are meant to save you time and ease your burden. Whether your firm is owned or you work in HR, you may quickly handle the payment process to guarantee legal compliance and concentrate on what is essential to your company.
Our knowledgeable staff guarantees flawless ESIC challan payment without involving extensive documentation or personal visits. Your payment is made safely, quickly, and with just a few clicks. Additionally, we provide continuous help should you require it along the procedure.
Let hand payments delay you down no more. Use today's simplicity and speed of online ESIC challan payment. To begin and enjoy flawless payment processing that fits your comfort, visit the Super Competent Accountant service page.