The Employee State Insurance Corporation (ESIC) is a social security scheme in India that provides medical and cash benefits to eligible employees and their dependents. The scheme is administered by the government and is mandatory for all employers with 10 or more employees. In this article, we’ll take a closer look at which employees and employers are covered by ESIC, as well as the benefits of the scheme for both employers and employees.
ESIC is a social security scheme that provides medical and cash benefits to eligible employees and their dependents. The scheme is administered by the Employee State Insurance Corporation, a government body that oversees the implementation of the scheme. It is mandatory for all employers with 10 or more employees, and the employer is required to contribute a percentage of the employee’s salary towards the scheme.
Employees covered under ESIC are:
ESIC is mandatory for certain employers to register and contribute towards the scheme. Employers covered by ESIC include:
It is important to note that the number of employees includes both permanent and temporary employees, including those employed on a contract basis.
ESIC provides numerous benefits to both employers and employees. Here are some of the benefits:
ESIC is a social security scheme in India that provides medical and cash benefits to eligible employees and their dependents. While the scheme provides benefits to employees, it also provides several benefits to employers who contribute towards the scheme. By contributing towards the scheme, employers can ensure that their employees have access to quality healthcare services, reduce the financial burden in case of employee sickness or injury, and avail tax benefits.
Suggested Read: How to file Employee’s State Insurance (ESI) Return?
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