Effortless ESIC Registration: Secure employee benefits with simplified Employee State Insurance Corporation registration. Get started today! Prices start from INR 5999/- only.
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All you need to know
ESIC Registration, also known as Employee State Insurance Corporation Registration, is a comprehensive social security and health insurance scheme that offers a range of benefits to employees and their families. These benefits include medical coverage, sickness benefits, maternity benefits, funeral expenses, and free supply of physical aids.
Under the ESIC scheme, any factory or business establishment with 10 or more employees, regardless of their salary, is required to register. Contributions to the ESIC fund must be made for employees earning a monthly salary of less than Rs. 21,000. This ensures that employees with wages below the threshold receive health and sickness benefits through this statutory scheme. Additionally, the state government contributes 1/8th of the medical benefit’s cost.
Various types of establishments need to register for ESIC if they have 10 or more employees. This includes shops, hotels or restaurants engaged solely in sales activities, cinemas (including preview theaters), road motor transport establishments, newspaper establishments, private educational institutions (run by individuals, trustees, societies, or organizations), and medical institutions such as hospitals, nursing homes, diagnostic centers, and pathological labs.
The current contribution rates towards ESIC are 0.75% of wages for employees and 3.25% of wages for employers, effective from July 1, 2019. However, these rates are subject to change periodically.
ESIC registration is a legal requirement for employers of factories, as mandated by the rules and regulations of the ESI Act, 1948. It is their statutory responsibility to ensure compliance with ESIC registration.
If you require Employee State Insurance Corporation registration or related services, simplemyfiling.com is an esteemed business platform offering end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. They provide easy, seamless, and cost-effective ESIC registration in India, along with other services such as PF registration, PF returns, ESI returns, trademark registration, and more. To avail of their free consultation, you can contact their compliance manager at +91 9178663478 or email firstname.lastname@example.org.