ESI Registration-

 

Overview

Employee State Insurance Corporation or ESIC is a self-financing government managed savings and medical coverage plot which gives health advantage, infection advantage, maternity advantage, disablement advantage and different advantages, for example, memorial service costs, free stockpile of physical guides and so forth to the representatives and their family.

ESI represents Employee State Insurance oversaw by the Employee State Insurance Corporation which is a self-governing body made by the law under the Ministry of Labor and Employment, Government of India. Any company with employee strength of more than 10 individuals (in certain states it is 20 representatives) each of which receives monthly salary not more than Rs. 21000/- needs to compulsorily enroll itself with the ESIC inside 15 days as per the ESI Act, 1948.

What are the Benefits of ESI Registration?

  • Affliction benefits at the pace of 70% (as pay)

  • Health insurance benefits to employees and their family members

  • Maternity Benefits to pregnant ladies (paid leaves)

  • 90% of the pay is given on monthly basis to the family members of the employee, in case the death of the employee occurs on duty

  • Same as above compensation benefits are given if the employee gets handicapped on duty

  • Cremation related costs

  • Clinical care costs at maturity

 

ESI Registration is mandatory for:-

According to the administration notification Sec 1(5) of the ESI Act, the below mentioned organizations with employee strength of at least 10 people are required to complete their ESI Registration:

  • Shops

  • Cafes or Hotels just occupied with deals.

  • Cinema Halls

  • Street Motor Transport Establishments;

  • Newspaper production (which doesn’t comes under the factory act)

  • Private Educational Institutions

 

What are the documents required in ESI Registration Process?

  • A registration certificate acquired under the:
    a. Factory Act
    b. Shops and Establishment Act

  • Registration Certificate of the Company, or Partnership deed for Partnership firm (whichever applicable)

  • Update of Association and Articles of Association of the Company

  • List of permanent employees working in the firm

  • PAN Card of the Business firm and the employees working under the same

  • Salary proofs of the concerned employees

  • A cancelled cheque of the Bank Account of the Company

  • Details of Company Directors

  • Details of the Shareholders of the Company

  • Register containing the participation of the workers

  • Employers Registration Form (Form No. 1)

 

Process of ESI Registration

  • After verification, following procedure should be followed:-

  • Stage 1: After verification, the legislature will give a 17 digit interesting number

  • Stage 2: The concerned employee will submit his details and photos of his family members as a piece of the procedure of registration to the organization and will get an ESI card after enlistment

  • Stage 3: Any adjustment in the Company or its representatives will be insinuated to the ESIC

  • What number of profits are documented each year after the enlistment is settled?

  • After the enlistment ESI Returns must be documented two times every year.