Employees State Insurance (ESI)
What is the ESI Scheme?
ESI is a complete Social Security Scheme(SSS) designed to provide social protection to the employees against sickness, disablement, and death due to employment injury and other events/issues. The fund is self-financing where employer and employee contributions on a monthly basis and the amount can be utilized towards compensating expenses on the health of the employee and his family members.
Contribution rate to the ESI fund
An eligible employee should contribute to a total of 1.75% of their salary (basic+allowances).
Registered Employers should deposit 4.75% of salary paid(basic+allowances) to ESI corpus every month.
Benefits of employees under the ESI Scheme
An employee acquires full of medical care during the period of his incapability to relieve/cure his health.
An employee acquires financial assistance to compensate for the loss in work due to sickness, maternity and employment injury, etc.
Medical care benefits to family members.
In case of the death of an insured employee due to employment injury, the spouse, widowed mother and children are entitled to Dependent’s benefit.