Employees' State Insurance or ESI is a comprehensive Social Security and Health Insurance Scheme for Indian employees. This scheme is administered by Employees' State Insurance Corporation (ESIC) and regulations stipulated in the ESI Act, 1948 under the aegis of Ministry of Labour and Employment. Under the ESI Scheme the Employees are provided with variety of monetary or medical benefits. ESI Department looks over the benefits provided to employees and their family through its branches dispensaries and hospitals.
At present, covered employees contribute 0.75% of their monthly wages and their employers contribute 3.25% of the monthly wages to the ESIC, totalling upto 6.5% of the monthly wages payable to the employees. The contribution amount is required to be deposited to the ESIC on or before 21 of the next month in which ESI was deducted. Employees having maximum salary upto 21,000 are mandatorily required to be insured under ESI Scheme.
This scheme is applicable to all Establishments employing 10 or more persons this covers contractual and seasonal employees. ESI Scheme provides benefits like medical, cash, maternity, disability benefits to the insured employee and its dependant. It provides full compensation for the loos of wages of an employee during the time of sickness or maternity or injury at employment. ESI enables the female employees to get paid leaves at the time of maternity. The scheme is also extended to the family members of insured employee.
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