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  • manoharca@mbvca.in

ESI

ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India.

This scheme is started for Indian workers. The workers are provided with a huge variety of medical, monetary and other benefits from the employer.

Any Company having more than 10 employees (in some states it is 20 employees) who have a maximum salary of Rs. 21000/- has to mandatorily register itself with the ESIC.

What are the benefits of ESIC registration?

The benefits of registering under this scheme are varied. Some of them are:

  • 1. Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year
  • 2. Medical Benefits to an employee and his family members
  • 3. Maternity Benefit to the women who are pregnant (paid leaves)
  • 4. If the death of the employee happens while on work – 90% of the salary is given to his dependents every month after the death of the employee
  • 5. Same as above in case of disability of the employee
  • 6. Funeral expenses
  • 7. Old age care medical expenses

The list of documents required for ESI registration is given below:

  • Name of the company.
  • Date of the setup of the organization.
  • Scanned copy of the company’s PAN (Proprietor’s, in case of proprietorship concern).
  • Scanned copy of the licenses available in the name of the company. (like GST).
  • Scanned copy of the cheque of the company’s bank account.
  • Address of the company with address proof.
  • List of Directors / Partners.
  • Address proof of Proprietor / Director / Partner of the company.
  • Email address, Mobile Number of Proprietor / Director / Partner of the company.
  • Copy of First sale bill / Job work bill and First purchase bill.
  • The monthly strength of employees from the date of setup.
  • The current list of employees with their details:
    • Name
    • Father’s Name
    • Date of joining
    • Date of birth
    • Mobile number
    • Postal address
    • Name of nominee
    • Grade
    • Salary
    • Designation
    • ID proof (Aadhaar and PAN)
    • Bank A/c number with IFSC code
  • Digital Signature of the Proprietor / Director / Partner

For any kind of assistance, contact Mr.Manohar B V, FCA, MCom @ manohar@mbvca.in / 9916870055