The Employees’ State Insurance Scheme is a social collateral scheme which balance the financial loss endure by employees when they feel sick, or die due to employment-related injuries.
The Employees' State Insurance (ESI) program, administered by the Ministry of Labour and Employment, is a self-supporting social security and health insurance scheme for Indian workers. This Employee State Insurance Fund is governed by the Employee State Insurance Corporation (ESIC) and its rules and regulations. All ESI-registered organizations require ESI returns, which are due every six months.
From the first day of employment, ESI registered individuals and their family members are entitled to comprehensive medical treatment, as are their insurance.
Maternity Benefit during confinement/pregnancy is payable for twenty-six (26) weeks, with a one-month extension on medical advice, at the total salary rate, subject to payment for 70 days in the preceding two Contribution Periods.
In the event of an employee's disability, a disablement benefit of 90% of the monthly income is paid.
During an employee's illness, a sickness benefit of 70% of his or her monthly income is paid, with a maximum of 91 days per year.
Employees' dependents receive 90% of their monthly wage if they die.
From the first day of insurable employment, a sum of Rs.10,000 is payable to dependents or the person performing final rites.
If his wife is imprisoned in a location where necessary medical facilities are not available under the ESI Scheme, an insured woman or I.P.
Disabled for life V.R. Training at VRS is covered under this policy.
In the event of a physical disability resulting from an accident on the job.
Whenever an insured employee dies due to an injury sustained in the course of employment or disease contracted as a result of employment, the employee's dependents are entitled to monthly benefits under the ESI system.
Each day the employer fails to make contribution payments, the employer is obliged to pay a simple interest of 12% per annum.
Employer contributions total 4.75 percent, while employee contributions total 1.75 percent, for 6.5 percent.