ESI Registration is compulsory for companies having 10 or more employees.
Established under the ESI Act, 1948, ESIC (Employees’ State Insurance Corporation) provides benefits to employees in the event of their sickness, death, disablement, injury, etc. The finance of this scheme comes from contributions from both employees and employers. Any employee who earns a monthly income of less than Rs. 21000 per month is covered under this scheme. Apart from employees, the family members of employees are also provided benefits under this Act. Any establishment that employs 10 or more employees is mandated by law to register under this Act. The contribution of employers in this scheme is 4.75% and that of employees is 1.75%, thus making a total of 6.5%.
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Advantages of ESI Registration
- Medical Aid – ESI registered persons are awarded full medical care as also their family members right from the day of entering employment which provides insurance.
- Maternity Benefit – Maternity Benefit for confinement/pregnancy is payable for Twenty-Six (26) weeks, which is extendable by further one month on medical advice at the rate of full wage subject to contribution for 70 days in the preceding Two Contribution Periods.
- Disablement Help – In case of any disablement of an employee 90% of the monthly salary is paid as a disablement benefit.
- Sickness Benefits – In case of any sickness of an employee 70% of the monthly salary is paid as a sickness benefit subject to a maximum capping of 91 days in a year.
- Death Benefits – In case of death of an employee 90% of the monthly salary is paid as a death benefit to employees’ dependents.
- Funeral Expenses – An amount of Rs. 10,000/- is payable to the dependents or to the person who performs last rites from day one of entering insurable employment.
- Confinement Expenses – An Insured Women or I.P.in respect of his wife in case confinement occurs at a place where necessary medical facilities under the ESI Scheme are not available.
- Vocational Rehabilitation – To permanently disabled Insured Person for undergoing VR Training at VRS.
- Physical Rehabilitation – In the case of physical disablement due to employment injury.
- Old Age Medical Care – For Insured Person retiring on attaining the age of superannuation or under VRS/ERS and person having to leave service due to permanent disability insured person & spouse on payment of Rs. 120/- per annum.
Documents required for ESI Registration
- Self-attested copy of PAN card (mandatory).
- Address Proof.
- Self-attested copy of Bank statement.
- Copy of Board Resolution.
- A copy of the license of a certificate of registration under Shops and Establishments/or Factories Act.
- Details of employees, details of the employment position, details of salary.
- Date of commencement of business or production evidence.
- Copy of COI and MOA and AOA/Partnership Deed/Trust Deed depending on the business entity.
- List of Shareholders.
- List of Directors.
- Canceled copy of Cheque.
Address Proof of Partners/Directors/Proprietor:
- PAN and
- Passport; or
- Aadhar card; or
- Driving license
For Employer Address Proof:
- Self-attested copy of Telephone/Mobile or Electricity bill; or
- Registered Title deeds or
- Rent Agreement