sRegistration with the ESIC

State Employees’ Insurance The Employee State Insurance Corporation, a separate company under the Ministry of Labor and Employment, was in charge of this task.

Also read : PF Registration

What is the difference between esi and pf?

Employee State Insurance Corporation is a self-funded public safety and health insurance programme for Indian employees. Such assistance is provided when workers are unable to work due to illness, maternity, or an occupational injury.

The employer provides a wide range of medical, financial, and other benefits to its employees. Every company with more than 10 employees, or 20 employees in some states, and a maximum pay of more than Rs. 15000 must register with the ESIC.

ESIC registration eligibility

Businesses having at least 10 employees, including as hotels, movie theatres, newspapers, shops, and educational and medical institutions, must register with ESIC, while in some states the maximum employee count has been increased to 20.

ESIC Registration Benefits

Employees are entitled to the following benefits as a result of their ESIC registration:

  • In the event of an unintended loss of job or permanent incapacity owing to a non-employment injury, the ESIC scheme provides benefits such as unemployment allowances and a monthly cash stipend for a maximum of 24 months.
  • If a worker dies as a result of an injury while on the job, ESIC benefits are distributed to dependents in the form of monthly payments.
  • In the event of a temporary disability, the ESIC scheme pays a monthly benefit until the injury heals. The ESIC scheme pays a monthly payment for the rest of your life if you are permanently disabled.
  • The ESIC programme also pays maternity benefits in the form of 100 percent of average daily wages in the form of cash for up to 26 weeks in case of confinement and 6 weeks in case of miscarriage during maternity leave.
  • The ESIC scheme gives payments of 70% of average daily wages for up to 91 days in two consecutive benefit periods during medical leave.
  • ESIC provides employees and their families with the benefits of a medical care facility.

Required documents for ESIC registration

The following are the documents required for ESIC registration:

  • In the event of a private limited company, the certificate of incorporation is required.
  • The Shops and Establishment Act or the Factories Act can be used to get a licence or a registration certificate.
  • For each entity and the start of factory production, a Certificate of Registration is required.
  • Employees’ complete profiles, as well as their monthly pay, are available.
  • The company’s or establishment’s partners, stockholders, and directors are listed in detail.
  • The bank statements of the company, as well as sufficient documentation of the start of operations
  • Proof of address with the most recent electricity bill and the commercial establishment’s or company’s PAN card

PF Registration

Employee provident fund (EPF) is a retirement savings plan that provides a financial benefit to all salaried employees after they retire. Any company or organization with more than twenty employees is required to register with the Employee Provident Fund.

The cash is withdrawn from the monthly wage and transferred to the Employee provident fund account under the Employee provident fund. Employees receive the sum put in their EPF account when they resign from the company. The Ministry of Labor and Employment regulates and supervises all EPFO activities.

PF Registration Eligibility

Employee provident fund (EPF) is a type of employee benefit plan that is offered to both private and public employers. Anyone can join EPF.

Employees of any company with at least 20 employees are presumed to be eligible for EPF benefits. Employees can also take use of a variety of perks, such as pensions and insurance.

Suggested Read: ESIC Registration

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