Almost every employee seeks medical benefits from the organization they work in, and even there's a scheme for the same. That scheme is ESI which stands for Employee State Insurance. The Employee State Insurance Corporation manages ESI. ESIC is a self-governing body formed under the Ministry of Labour and Employment, Government of India.
Under the ESIC scheme, workers or employees of the organization can avail various medical, monetary and other benefits by the employer.
Any company that consists of more than 10 employees (in some states it is 20 employees) and has a maximum salary of Rs. 21000 per month or less has to mandatorily register itself with the ESIC.
Under this scheme, the employer contributes 4.75% of the total monthly salary payable to the employee. However, an employee contributes only 1.75% of his monthly salary.
Employees whose salary is less than Rs. 100 per day are exempted from his contribution to the ESI scheme.
In this blog, we are going to talk about the documents required for ESIC registration. Apart from that, we will discuss a few more things as follows:
We all are aware that ESIC registration helps employee as well as their dependent with excellent medical care. But a very few of us are aware of how it helps the employer. Here’s how-
Under the ESI Act, the employer secures legal liability which can arise from any mishappening, incident or accident at the workplace. If the employer is registered with ESI and any such incident occur at the workplace with the employee, the ESI Corporation will bear all the expenses of the employee.
Under the ESI scheme, employees and their dependents can avail the following benefits:
In order to obtain ESIC registration, the applicant is supposed to submit the following documents:
After you have obtained the registration, you need to file ESI returns twice every year. For filing the returns, you will require to submit the following documents:
Hence, these are all the documents required for ESIC registration. If you want to know the ESIC registration process or want to register your company under the ESIC scheme, then contact one of India’s leading consultant, Enterslice.
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