ESI stands for Employee State Insurance. It is a self-financing social security scheme managed by the government of India through an autonomous authority – Employee State Insurance Corporation that falls under the jurisdiction of the Ministry of Labour and Employment. It aims to provide medical & monetary benefits to Indian employees and their dependents who are employed at an establishment or factory. The scheme is targeted to provide benefits to low income level employees of the Indian industry.
Employee’s State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers. ESI Registration is mandatory for employers having 10 or more employee. For all employees earning Rs.15,000 or less per month as wages, the employer must contribute 4.75% and employee must contribute 1.75% towards ESI. The ESI fund is managed by the ESI Corporation (ESI) 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. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. IndiaFilings can help you obtain ESI registration for your business.
All employers having 10 ore more employees are required to be registered with Employee State Insurance (ESI) Corporation. Those entities having ESI Registration must then file ESI returns. ESI returns are due half-yearly.
