ESI Rate 2023 Archives

What is the ESI rate for the year 2023? Introduction The Employee State Insurance (ESI) scheme, managed by the Employee State Insurance Corporation (ESIC), is a comprehensive social security system aimed at providing medical, monetary, and other benefits to Indian workers. In this blog, we will explore the ESI contribution rate for the year 2023 and understand its implications for employers and employees. We will delve into the eligibility criteria, ESI salary limit, contribution rates, and how to check your employee ESIC contribution online. ESI Contribution Rates and Salary Limits To ensure widespread coverage, the ESI scheme mandates that any non-seasonal factory or company employing more than 10 employees (20 employees in some states) with a maximum salary of Rs. 21,000 must register with the Employee State Insurance Corporation and provide ESI benefits to their employees. The contribution rates for the ESI scheme are determined by the ESIC and these are subject to revision from time to time. As of the latest revision, effective from 1st July 2019, the contribution rates for the year 2023-24 are as follows: Employer’s Contribution: 3.25% of the wages paid/payable. Employee Contribution: 0.75% of the wages paid/payable. If an employee's daily average wage is up to Rs. 176, they are exempted from making contributions. However, the employer is still responsible for making their share of the contribution. How to check Employee ESIC Contribution? Employees can check their ESIC contribution online through the ESIC portal. The portal provides a user-friendly interface for employees to check their contributions and other details. The following are the steps involved in checking the employee ESIC contribution online: Visit the ESIC portal: The first step is to visit the ESIC portal. The portal provides all the necessary information regarding the ESIC scheme. Click on the ‘Employee Login’ link: The next step is to click on the ‘Employee Login’ link. This will take you to the login page. Enter the login details: The login details include the ESIC number, password, and captcha code. Once you have entered the login details, click on the ‘Login’ button. Check the contribution details: Once you have logged in, you can check your contribution details. The portal provides all the necessary information regarding the contribution, including the contribution rate, the contribution amount, and the date of contribution. Frequently Asked Questions on ESI Scheme 1. What is an ESI card? An ESI card, also known as a pehchan card, is a magnetic card issued to each insured person. It serves as proof of enrollment in the ESI scheme and is necessary to avail of various ESIC benefits. 2. Who fixes the rate of contribution for the ESI scheme? The rate of contribution for the ESI scheme is fixed by the Government of India. The rates are periodically revised, and the current employee contribution rate (w.e.f. 1.07.2019) is 0.75% of the wages, while the employer's contribution rate is 3.25% of the wages paid/payable. 3. Is an employee still covered under the ESI scheme if their salary exceeds Rs. 21,000 in a month? If an employee's salary limit exceeds Rs. 21,000 after April or October (depending on the contribution period), the employee remains covered under the ESI scheme until the end of that contribution period. Consequently, contributions should be deducted and paid on the total wages earned. 4. Can I withdraw my ESIC amount? The ESIC amount is a form of insurance premium contributed by employees and employers. 5. Are ESIC funds withdraw able for personal use? No, the ESIC funds cannot be withdrawn for personal use. The scheme operates as an insurance scheme where premiums are contributed by employees and employers. The funds can only be utilized for specific benefits provided under the ESI scheme, such as medical treatment, sickness, disability, and other eligible expenses. 6. Is the ESI scheme applicable to all states in India? Yes, the ESI scheme is applicable nationwide. However, some states have specific requirements regarding the number of employees for mandatory ESI registration. In most states, any non-seasonal factory or establishment with 10 or more employees is required to register under the ESI scheme. Conclusion In conclusion, the ESI rate for the year 2023 is fixed by the ESIC. The contribution rate for employees is 0.75% of their wages, and the employer's contribution is 3.25% of the wages. The salary limit for ESI deduction is Rs. 21,000 per month. It is important to ensure that all the necessary contributions are made to the ESIC fund to avail of the benefits of the scheme. By following the steps outlined in this blog, employees can check their ESIC contribution online and ensure that they are in compliance with all the ESIC laws and regulations.

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entities

Tax Registrations

Other Registration

Returns

Annual Filings

Change Services

Closure

Legal Drafting

Special

Trademark

Copyright

Patent

Designing & Marketing

Blog

Employee State Insurance Rate for the year 2023

Hi, Welcome to EbizFiling!

HOME

POLICY

RELATED LINKS

CONNECT WITH US

TOP 3 READS

GST Compliance Calendar with Due Date for FY 2025-26

Role of IEC in International Trade: Future Trends

LLC vs INC : Difference between LLC and INC

Secure Payment Modes

Company Registration in Ontario, Canada
FSSAI Licence Modification
FSSAI License Renewal
Private Limited Company
US payroll services in India
UK Business Outsourcing Process in India
File CRF Form to change Master Data on MCA
Reply to Notice Under Section 148 of Income Tax Act
Reply to Notice u/s 143(2) of Income Tax Act for Scrutiny Assessment
Reply to Intimation Notice under section 245 of Incone Tax Act
Reply to Defective Notice u/s 139(9) of Income Tax Act
Reply to Income Tax Notice u/s 143(1)(A) for Prima Facie Adjustment
Reply to intimation notice of Section 143(1) of Income Tax Act
Reply to Income Tax Notice Under Section 133(6)
Corporate Legal Advice
LEI Code Registration
Employee Background Verification
US Business Solutions and Outsourcing Services in India
LLC Annual Compliances in Wyoming, USA
LLC Annual Compliances in Florida, USA
E-RCMC Registration under EPCES in India
Annual Filing & Bookkeeping & Accounting Service for Partnership Firm
ITIN Registration in the USA
Offshore Staffing Services in India
SEO Services in India
Content Writing Services in India
File Form 10BD Online under Income Tax Act
Annual Filing For Trust in India
Register a company in India from UK
Register a company in India from Germany
Register a company in India from France
Register a company in India from US
LLC Annual Compliances in Delaware, USA
Register a company in India from Canada
Register a company in India from UAE
Register a company in India from Singapore
Register a company in India from Australia
Company Registration in Indiana
Company Registration in California
Company Registration in New Mexico
Company Registration in New York
Company Registration in Texas
Company Registration in Wyoming, USA
Register Company in Florida, USA
Company Registration in Delaware
Annual Filing & Book-keeping & Accounting Service for Proprietorship Firm
Wall Designing
Virtual Office in India
Form 15CA Online Filing – Income Tax
NGO Darpan Registration
Overseas Direct Investment (ODI) through Automatic and Approval Route
HR Hiring and Recruitment Services in India
FLA Return Filing Online to RBI in India
APEDA (RCMC) Registration in India
ROC Annual Compliance for Producer Company
ROC Annual filing for Section 8 Company
ROC Annual filing for Public Limited Company
FCRA Registration Online in India
File Form CSR 1 online
Appeal to CIT- File an Appeal to Commissioner to Income Tax
Reply to Scrutiny Assessment Notice u/s 143(3)
Reply to Income Tax Notice- Know How to Respond to IT Notices
Surrender IEC License Online in India
भारत में कंपनी पंजीकरण / रजिस्ट्रेशन
Drop-Shipping Business in India by Foreigners
OPC Registration in India by an NRI
Company Registration in India- Know how to open a Company in India
Creation of Charge
LLP Registration in India by an NRI
Company Registration in India by an NRI
Right Issue of shares / Right Offerings
Renewal of IEC License
Application for the Extension of Name Reservation
Digital Marketing Services
Company Annual Filings in XBRL filing mode in India
12AA & 12A Registration Process
Trademark Registration / Brand Registration in the USA
Trademark Registration / Brand Registration in UK
Trademark Registration / Brand Registration in Malaysia
Strike Off Company
Payment of TDS return on purchase of property (form 26QB)
Business Advisory Services
Limited Liability Partnership Registration in Mumbai
Limited Liability Partnership
File ROC Form DPT 3 Return of Deposits
Income Tax Returns Filing
ROC Annual Return Filing for Pvt Ltd Company
MCA Companies Fresh Start Scheme
LLP Annual Return Filing
MCA LLP Settlement Scheme 2020 (LSS 2020)
DIR 3 E KYC
ISO Certification in India
Run your operations / company in India without any liabilities
Add A Director
Accounting and Compliance Services for Start ups, Small companies, LLP and OPC (Micro Retainership Services)
Foreign Direct Investment through Automatic and Direct Route
A Quick guide to company registration in Bangalore
Apply for FSSAI license or Food license in India
Dormant Company Status Application
Trademark Registration in India
Conversion From Registered Partnership To LLP
Conversion From Registered Partnership To Private Limited Company
Change in Registered Office of LLP
Company Registration in USA
Company Registration in Malaysia
Company Registration in UK
Logo Design Services
Conversion of Private Limited Company to OPC
Opening a Branch in India by a Foreign Company
Nidhi Company Annual Filing
One Person Company (OPC) Registration in Mumbai
IEC Registration in Mumbai
Trademark Registration in Mumbai
Private Limited Company registration in Mumbai
Form GSTR 1
Maharashtra Professional Tax
Premium Retainership Services in India
MicroFinance Company registration
Conversion of Section 8 Company to Private Limited Company
DPIIT Startup Recognition certificate
RBI Form FC-GPR
Charge Registration on property
RBI Form FC-TRS
EPF Registration
PAN Application
Digital Signature
IEC Registration
TAN Application
DIN Application
GST Registration
Nidhi Company
Producer Company
Hindu Undivided Family (HUF), HUF Deed
Sole Proprietorship Firm Registration
Public Limited Company
E-Commerce Business
One Person Company (OPC)
Partnership
Indian Subsidiary
Non Profit Organization
GST Returns
CMA Report Preparation
E-Form Commencement of business certificate(form-20a)
Private Limited Company Registration
Startup Advisory Services
One Person Company (OPC)
Private Limited Company Registration
Income tax section 80g(5) registration
Company Registration Process in India for Foreigner- Know How to Open a Company in India
Secretarial Compliance Services
Search Report ROC
Revival of Struck Off Company
Trademark Watch Services
One Person Company (OPC)
Limited Liability Partnership
GSTR 9C filing by CA- GST Annual Audit due date, GSTR 9C FAQs
Tax Consultancy Services
International Trademark Registration Under Madrid Protocol
Surrender of DIN
Trademark Registration Process
LLP Registration Procedure – copy
LLP Registration Procedure – copy
Online LLP Registration and Complete Procedure
Aadhaar Udyog Online Registration
New Form INC-22A
FIND GST RATE, HSN CODE & SAC CODE
Company Registration in India
Hire Purchase
Contract Manufacturing Agreement
Web Development Agreement
Sole Selling Agreement
Underwriting Agreement
Mortgage Deed
Agreement Appointing A Common Arbitrator
Deed of Wakf-Alal-Aulad
Specific Power of Attorney
Foreign Collaboration Agreement Drafting
Joint Venture Agreement
Non- Disclosure Agreement
Franchise Agreement
Agreement to Sell Business
Vendor’s Agreement
Exclusive Distributorship Agreement
Shareholders Agreement
Consumer Complaint Letter
Power of Attorney
Company Name Change
Appointment of Auditors
Removal/Resignation of Director
GST Cancellation
GST LUT Letter of Undertaking
Conversion from Private Limited Company to Limited Liability Partnership (LLP)
Business Plan Preparation (Project Report)
Book-Keeping & Accounting
Trademark Renewal
Trademark Opposition
Trademark Rectification
Trademark Withdrawal in India
Payroll Setup & Processing
ESI Returns
PF Returns
TDS Returns Revision
Removal of Charge
Modification of Charge
MOA/AOA Printing
MOA/AOA Amendment
IEC Modification
Change of Registered Office Address
OPC to Private Limited Company
Conversion of Sole Proprietorship to OPC
Sole Proprietorship to Partnership firm
Conversion from Proprietorship to LLP
Conversion of Proprietorship to Private Limited Company
Conversion of Public Limited Company to Private Limited Company
Private Limited Company to Public Limited
Conversion of Partnership to Private Limited Company
Conversion of LLP to Private Limited Company
Conversion of Partnership to LLP (Limited Liability partnership)
Del Credere Agreement
Lease deed
TDS Returns
Strike Off OPC
Dissolution of Firms
Strike Off LLP
ESIC Registration
GST Modification
OPC Annual Filing
SSI/MSME/Udyog Aadhar Registration
Share Transfer & Transmission
Change in DIN
Add/Remove a Partner in LLP
LLP Name Change
Change in LLP Agreement
Increase in Authorized Capital
Change in Directorship
Patent Registration
Patent Search
Provisional Patent
Copyright Application
Trademark Assignment
Trademark Objections
Trademark Registration
Trademark Registration – copy
Limited Liability Partnership
Conversion into LLP