Ask 4 Compliance | ESI Registration
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ESI REGISTRATION

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EMPLOYEES’ STATE INSURANCE (ESI) REGISTRATION

It is a comprehensive Social Security Scheme designed to accomplish the task of socially protecting the ’employees’ in the organized sector against the events of sickness, maternity, disablement and death due to employment injury and to provide medical care to the insured employees and their families. The scheme provides full medical care to the employee registered under the scheme during the period of his incapacity for restoration of his health and working capacity. It provides financial assistance to compensate the loss of his/ her wages during the period of his abstention from work due to sickness, maternity and employment injury. The scheme provides medical care to his/her family members also.

The ESI Scheme is administered by a corporate body called the ‘Employees’ State Insurance Corporation’ (ESIC), which has members representing Employers, Employees, the Central Government, State Government, Medical Profession and the Parliament. The Director General is the Chief Executive Officer of the Corporation and is also an ex-officio member of the Corporation. The ESI scheme is a self financing scheme. The ESI funds are primarily built out of contribution from employers and employees payable monthly at a fixed percentage of wages paid. The State Governments also contribute1/8th share of the cost of Medical Benefits.

According to the notification issued by the appropriate Government (Central/State) concerned under Section 1(5) of the Act, every establishment employing 10 or more persons attracts ESI coverage.

“ESIC” allows medical treatment to the employees insured and their families. It also protects employees in events of illness, disablement, harm, hurt or death due to employment. Losses of wages during the period of his leave from work are also compensated to the insured employees.
If Gross salary i.e. Basic+ DA+ HRA of any employee is less or equal to Rs. 15,000/- per month, ESI is to be deducted on the rate prescribed and shall be paid to the Corporation on or before 21st day of the following month in which the ESI was deducted.

Our team of highly qualified professionals at Ask4compliance.com can help your business obtain ESI Registration to avail a host of benefits.

Process & Timeline

6-8 days

Professional Fees

Rs. 5500

(GST, Government Fees and other Out of Pocket Expenses Extra)

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DEDUCTION / CONTRIBUTION

S. No. Particulars % OF Deduction/Contribution
1 Employees’ Contribution 1.75% of Gross salary
2 Employers’ Contribution 4.75% of Gross salary

Find GST Rate, HSN Code & SAC Code

ADVANTAGES OF ESI REGISTRATION

  • Medical Benefit: Liability to provide medical benefits rests with the state government. After joining with the insurable employment the insured and his/her dependents get entitled to get the benefit of medical benefit. Primary, outdoor, indoor and expert services are made available through Employees State Insurance Hospitals/dispensaries and panel clinics while the super speciality services are made available eminent medical institutions of the country on referral basis. These services are made available in the hospitals and dispensaries on immediate basis.
  • Disease Benefit: Disease benefit is made available in the form of cash by Employees State Insurance Corporation. Disease benefit is payable to the insured person in case of diseased condition in cash. Provided that he had been absent from the work and his absence had been certified by the Authorized Insurance Medical Officer / Practitioner. Payment of this benefit is made within 7 days of disease certification at standard benefit rates and the rate of this benefit is not less than 50 per cent of daily wage.
  • Maternity Benefit: Maternity benefit is payable to insured women in case delivery or abortion or associated complications and is paid by the Employees State Insurance Corporation within 14 days of submitting the certified claim documents.
  • Handicap Benefit: Handicap benefit is payable to insured person who has become physically handicapped due to employment injury or workplace disease, provided that the insured should be an employee on the date when accident occurred. This benefit is payable within one month of submission of benefit claim documents.
  • Dependents Benefit: Dependents benefit (family pension), is payable to the dependents of the deceased insured in such cases where the insured dies of employment injury or occupational disease. This benefit is provided to the dependents within three months of the death of the insured and after that is paid regularly on monthly basis.

DOCUMENTS REQUIRED FOR REGISTRATION UNDER ESI

  • Copy of the Pan Card of the company
  • Self attested copy of, Bank Statement, Landline Bill, Power Connection Bill, Water Bill in the name of the establishment, Any license/certificate/number issued by any Govt. authority etc., as address proof of the establishment.
  • In case of company Memorandum/Articles of Association/List of Directors.
  • Copy of registration certificate issued under Companies Act, GST Act, Co-operative Society Act etc.,
  • Business Activity of the firm/company.
  • Details of other Registration in any other statute, if any.
  • If the establishment is covered under PF act, Number issued by the department.
  • Details of employees along with their address, Salary and date of joining the firm/company with.
  • E-Mail id and Mobile number of the firm/company.
  • Details of Bank account along with a Cancelled cheque.

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