i want to know about ESIC, What is ESIC, benefits of ESIC, ESIC will be deduct from basic salary or it will deduct from gross salary, and percentage of ESIC to be deduct from salary.
21 October 2009
ESIC stands for Employees' State Insurance Corporation(Karmachari Rajya Bima Nigam) Employees’ State Insurance Act, 1948 envisaged an integrated need based social insurance scheme that would protect the interest of workers in contingencies such as sickness, maternity, temporary or permanent physical disablement, death due to employment injury resulting in loss of wages or earning capacity. the Act also guarantees reasonably good medical care to workers and their immediate dependants. The Employees’ State Insurance Scheme is administered by a Corporate body called the Employees’ State Insurance Corporation (ESIC), which has members representing employers, employees, the Central Government, State Governments, medical profession and the Parliament.
Ddeductionof esic on basis of gross salary Employers Contribution for ESIC (4.75% of Gross salary) Employees Contribution for ESIC (1.75% of Gross salary. Right now ESIC creteria for salry limit Rs.10000. those employe geting more than 10000 no need cover under esic scheme.
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