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Employee's State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers.it offers an economic & medical assurance to workers and its dependents. Besides providing medical benefits to workers and its dependents it also insure worker from temporary or permanent disablement and sickness.
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For ESI Registration
ESI Registration is mandatory for employers having 10 or more employee. For all employees earning Rs.15,000 or less per month as wages,(From 2013 this ceiling is increased to Rs 25000/-).This compulsory insurance also helps employers to cover up their contingent liability of treatment and medical expenses, which may be incurred if any accident is happened at the business premises or factory.
Coverage: Employees drawing wages up to Rs. 15,000 per month engaged either directly or through contractor.
Note: Any Employee whose wages (excluding remuneration for overtime work) exceed Rs. 15,000 at any time after (and not before) the beginning of the contribution period i.e., (April 1 to September 30 and October 1 to March 31), shall continue to be an employee until the end of that contribution period. But in the next contribution period, their name should be excluded from ESI employee list (being salary exceeding Rs. 15,000)
Rajput Jain & Associates can help your business file Employee's State Insurance (ESI) Registration.Our ESI experts can also help you compute Employee's State Insurance payments and maintain ESI regulation compliance for your business. Use Reminded to know more about your due dates for ESI return filing due date and ESI payment due date.
To register for ESI, the Employer must apply to the concerned Regional Office and obtain an identification number called the Code number. The code number is a 17 digit unique identification number.
Employee's State Insurance Registration Highlights
Employee's State Insurance Corporation (ESI) is a self-financing social security and health insurance scheme for Indian workers. The scheme provides Employees with a comprehensive Social Security Scheme for protecting the employees during sickness, injury or disability.
Employee's State Insurance Corporation (ESI) is a self-ESI provides employees registered the scheme with a host of medical and sickness benefits. Employees registered under the scheme can avail medical facilities and are also entitled for sick pay benefits.
ESI Registration for Employers having more than 10 employees. The Employer must contribute 4.75% of the Employees wages towards ESI. Once, registered the organization is allotted a 17 digit unique identification code.
ESI contributions must be made by the employer for all employees having a salary of less than Rs.15,000 per month. The employer must contribute 4.75% and employee must contribute 1.75% of the wages for ESI.
Organizations under ESI coverage must file annual return showing the changes if any during the preceding year. Return of contributions enclosing copy of all ESI contributions paid must be submitted once every six months.
ESI Contributions must be paid by the employer in to a bank authorized by the Corporation within 21 days of the last day of the calendar month in which the contribution is due.
What is Employee's State Insurance?
ESI stands for Employee's State Insurance a self-financing social security and health insurance scheme for Indian workers. ESI provides employees with less than Rs.15,000 monthly wages health and sickness benefits through a statutory scheme.The ESI fund is according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India.
Employee's State Insurancecontributions should be made for which employees?
Employee's State Insurancecontributions must be made for all employees having a salary of less than Rs.15,000 per month. The employer must contribute 4.75% and employee must contribute 1.75% for ESI.
Who has to obtain ESI Registration?
Employees having 10 or employees have to register for ESI irrespective of the salary of the employees. In case all the Employees employed in the organization have a monthly wages of over Rs.15,000, then the organization would have to file a NIL return.
How is an Employee registered under ESI?
At the time of registration, the Employee is required to fill in Form - I and submit a family photo in duplicate to the employer, which is in turn submitted by the Employer to the ESI Office. The employee is then allotted an insurance number and issued a temporary identity card for availing medical benefits for him/herself and his/her family. Thereafter, a permanent identity card is issued, which can be used by the employee even after transferring jobs.
When taking an ESIC become mandatory?
ESIC: - If you employ worker with a salary below Rs 15000/-
When is ESI Return due?
ESI returns are due half-yearly. Use Reminder to know the next ESI return due date and ESI payment due date for your business.
Who must file ESI Returns?
All those entities that employ more than 10 persons are required to obtain ESI registration. Entities having ESI registration must exile ESI returns.
How to make ESI payment?
ESI payments can be made online through net banking facilities.
Is multi location or branches needed to take separate ESIC Registrations?
In such a condition no new registration needs to be taken, you can simply add the branch or other locations and cover employees of that branch. However if business entity is different like subsidiary etc, then separate registration need to be taken.
What is the penalty for late filing of ESI return?
Non-compliance with ESI regulation is a serious offence. If an employer fails to pay any contribution payable under the Act within the prescribed time-limit, he/she may be punishable imprisonment for a term which may extent to three and fine of Ten thousand rupees.
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