ESIC is governed under the Employee’s State Insurance Corporation Act,1948. ESI provides the medical facility to its registered employees where they can visit the nearest empanelled hospitals and avail the benefits.
Therefore, ESIC law mandates every organisation employing more than 10 employees to obtain ESI registration and do monthly compliances. Companies needs to obtain state wise registration if they are having the employees working in multiple states. Employers needs to contribute 3.25% of Gross Salary and employees needs to contribute 0.75% of the Gross Salary on a monthly basis.
- Login Credentials of ESIC Portal
- Form-1 of new joinee employees along with KYC proofs
- Monthly payroll summary
- Digital Signature of Authorized signatory
- ESICChallan of last three months (If any)
Visit the ESIC portal and login using credentials.
Create IP numbers of new joinee employees.
Prepare the MC sheet and upload it at the Portal.
After verification of numbers, generate the challan and pay it accordingly.
Employers/Companies who are employing more than 10 employees and have got themselves registered under the ESI laws needs to do monthly ESIC return filings.
Employer will provide the ESI registration card to each of the registered employee which they or their family members can show to the empanelled hospitals and avail benefits.
If a company has multiple branches, so they will apply for ESI under the main head office and create sub codes for each of the branches.
15th Day of the succeeding month.
Deferral for upto 2 month :5% per annum
Deferral for upto 2 to 4 month: 10% per annum
Deferral for upto 4 to 6 month :15% per annum
Deferral for Above 6 month :25% per annum
ESI Scheme is mandatory for employees earning less than prescribed threshold (ie; INR 21000 per month currently).
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