ESI
ESI:
The Employee State Insurance Corporation, an autonomous organization within the Ministry of Labour and Employment of the Government of India, manages and regulates employee state insurance (ESI). The ESI plan was established for Indian employees to offer monetary, medical, and other benefits from the employer. The Employee's State Insurance (ESI) Scheme is administered by an independent entity, the Employee State Insurance Corporation.
Employee State Insurance Registration is required for any businesses with more than ten workers earning a maximum monthly wage of Rs. 21000/-. It is a unique 17-digit identification number assigned to each factory/establishment/registered under this Act
This system is intended to provide socio-economic protection to employees who work for a corporation. This system covers medical, sickness, maternity, and various additional benefits for employees and their families. The plan also provides financial help and medical treatment to employees and their family members who are covered under the ESI Act. Because both the employer and the employee must contribute to the ESIC, it is referred to as a self-financing plan.
TAX BARR completes your ESI registration for you to utilize the benefits after getting registered.
Benefits of ESI:
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Advantageous medical treatment
With ESI, the employee and family members get exclusively free medical treatment up to specific services.
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Sickness benefit
When employees get sick, they will be treated freely with ESI medical hospitals.
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Maternity pay
With ESI, the employees can freely avail themselves of the medical expenses during the maternity break.
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Benefits for dependents
With ESI, the dependants or the nominees of the employees can avail of free medical services.
Documents required:
For obtaining ESI registration in India, here is the list of documents that is to be submitted by the employer along with the application:
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Registration certificate as obtained under – Factories Act and Shops and Establishment Act
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Certificate of registration in case of a company and LLP and partnership deed for a Partnership firm
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MOA and AOA of the company
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LLP Agreement in case of an LLP
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Attendance register of the employees
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PAN card of the business establishment
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Scanned copy of the Property Tax bill
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Rent agreement, in case of rented property along with Utility Bill
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Scanned copy of the licenses received by the company such as GST Certificate etc.
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A canceled cheque of the bank account of the company
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Digital signature of the Proprietor, Partner, or Director as the case may be
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List of Directors of the company
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List of Shareholders (as on date) in the company
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Address proof of the Proprietor, Partner, or the Company’s Directors
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Mobile number and email id of Proprietor, Partner, or the Company’s Directors
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List of all employees working in the establishment along with employee details such as :
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Full Name,
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father’s name,
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Mobile Number,
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Date of Birth,
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Date of joining,
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Salary,
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Postal Address,
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Name of the Nominee,
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Grade,
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Identity proof such as PAN or Aadhar Card,
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Bank Account Number etc.