ESI is the short form for Employee State Insurance which is managed completely by the ESIC(Employee State Insurance Corporation) an autonomous body which was created by the Ministry of Labour and Employment of Government of India.
This scheme was started basically for Indian workers. The workers are provided with benefits from medical, monetary and various other verticles too, even from an employer.
All the businesses must register itself with the Employee State Insurance Corporation if it has 10(Or 20, Differs from State to State) or more employees and have a maximum pay of Fifteen thousand rupees.
Under ESIC registration an employer must give an amount of 4,75% of the monthly salary which an employee receives and the employee has to pay only 1.75% of his monthly wages each month of the year. The only exception who is exempted from this sort of contribution is the employee whose salary is less than Rs 100/- per day.
Following verticles are covered as per government's notice dated Sec 1(5).
Following is the procedure of ESI registration which is to be followed after the collection of all the documents above.
ESI returns have to be filed two times a year after the registration and the below-mentioned documents are required for filing the returns:
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