ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India
This scheme is started for Indian workers. 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/- has to mandatorily register itself with the ESIC.
Our Company Registration package includes the following:
- DSC for one director and DIN for up to three directors
- Drafting of MoA & AoA
- Registration fees and stamp duty
- Company Incorporation Certificate
Under this scheme, the employer needs to contribute an amount of 4.00% of the total monthly salary payable to the employee whereas the employer needs to contribute only 1.00% of his monthly salary every month of the year. The only exemption to the employee in paying his contribution is whose salary is less than Rs. 100/- per day.
Eligibility for ESI registration
- Movie theatres.
- Newspaper establishments (not covered under factory’s act)
- Private educational institutions
- Restaurants engaged only in sales
- Road motor Transport establishments
Benefits of ESI registration
Complete medical care to all persons registered under ESI and their family members. Retired and permanently disabled insured persons and their spouses are provided the medical care on payment of Rs.120/- of a token annual premium.
This benefit at the rate of 70% (in the form of salary) is payable in case of any certified sickness for a maximum of 81 days in a year. In order to be eligible for the sickness benefit, the insured worker has to contribute for 78 days for the period of 6 months.
Maternity benefit for pregnancy is provided for the period of 3 months. Extendable by further one month on medical advice at the rate of complete salary subject to contribution for 70 days in the next year.
Disablement and Dependant benefit
In case of permanent disablement, the benefit is payable at the rate of 90% of wage in the form of monthly payment as certified by Medical board. If in case of the death of an employee during company premises Dependant benefit is paid at the rate of 90% of the salary to his / her dependants every month after the death of the employee.
Dependants or the person who performs the last rites, Rs. 10000/- is paid to them from the day 1 of entering the insurable amount.
Old age care medical expenses
Medical facilities are free of cost for the insured persons who go out employment because of old age or disability due to a work-related injury.
Under Rajiv Gandhi Sharmik Yojana, unemployment allowance is payable to the insured worker who becomes unemployed after being insured for 3 or more years Unemployment allowance equal at the rate of 50% of salary for a maximum period upto 1 year.
Documents required for PF Registration
- A registration certificate obtained either under the: Factories Act, Shops and Establishment Act
- Certificate of Registration in case of Company, and Partnership deed in case of a Partnership
- Memorandum of Association and Articles of Association of the Company
- A list of all the employees working in the Establishment
- PAN Card of the Business Entity as well as all the Employees working under the entity
- The compensation details of all the employees
- A cancelled cheque of the Bank Account of the Company
- List of Directors of the Company
- List of the Shareholders of the Company