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ESI Registration

ESI Registration In India - An Overview

This scheme is for Indian workers, providing them with various medical, financial, and other benefits from their employer. Any company with more than 10 employees (or 20 in some states), earning up to Rs. 15,000 per month, must register with the ESIC.

Under this scheme, the employer contributes 3.25% of the total monthly salary of the employee, while the employee contributes 0.75% of their monthly salary every month. Employees earning less than Rs. 100 per day are exempt from contributing.

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Benefits:

Here are the benefits of IEC Registration in simpler terms:

  1. Sickness Benefits: Employees receive 70% of their salary if they’re certified as ill for up to 91 days in a year.
  2. Medical Benefits: Employees and their family members receive medical benefits.
  3. Maternity Benefits: Pregnant women get paid leave.
  4. Death Benefits: If an employee dies while working, 90% of their salary is given to their dependents every month.
  5. Disability Benefits: Similar to death benefits, if an employee becomes disabled, their dependents receive 90% of their salary.
  6. Funeral Expenses: The company covers funeral expenses.
  7. Old Age Care: Medical expenses for elderly employees are also covered.              

IEC Registration - A Detailed registration process

To register for ESI (Employee State Insurance), you need:

  1. A registration certificate under either the Factories Act or the Shops and Establishment Act.
  2. Certificate of Registration for a company, or Partnership Deed for a partnership.
  3. Memorandum of Association and Articles of Association for the company.
  4. A list of all employees.
  5. PAN Card of the business entity and all employees.
  6. Compensation details of all employees.
  7. A cancelled cheque of the company’s bank account.
  8. List of Directors and Shareholders of the company.
  9. Register containing employee attendance.

Once you have all these documents, follow these steps:

  1. Download and fill Form No. 1 (Employers Registration Form).
  2. Submit the filled form along with the documents mentioned above on the ESI website.
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