EMPLOYEE STATE INSURANCE
In order to provide a security system to vast numbers of workers and employees engaged in various economic sectors in Independent India, the Employees State Insurance Act, 1948 was promulgated by the Ministry of Labour and Employment, Government of India.
The workers are provided with a huge variety of medical, monetary and other benefits from the employer. Any Company having more than 10 employees (in some States it is 20 employees) who have a maximum salary of Rs. 15000/- per month has to mandatorily register itself with the ESIC.
Benefits of Registration:
- Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year
- Medical Benefits to an employee and his family members
- Maternity Benefit to the women who are pregnant (paid leaves)
- If the death of the employee happens while on work – 90% of the salary is given to his dependents every month after the death of the employee
- Same as above in case of disability of the employee
- Funeral expenses
- Old age care medical expenses
