What is ESIC Registration ?
Employees’ State Insurance Act, 1948(ESI Act), by the Parliament was the first major legislation on social Security for workers in independent India. The ESI Act 1948, encompasses certain health related issues which workers are generally exposed to; such as sickness, maternity, temporary or permanent disablement, Occupational disease or death due to employment injury, resulting in loss of wages or earning capacity-total or partial. There is social security provision also made in the Act to eliminate physical or financial distress and also aimed at upholding human dignity.
ESI registration is mandatory once a company or any other entity employs 10 or more low-earning employees. Any employee earning less than Rs. 15,000 per month needs to contribute 1.75% of his/her pay towards the ESI, while 4.75% will be contributed towards his/her ESI by the company.
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