The Employees State Insurance Corporation Act - 1948 (ESIC)
Employees' State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. The fund is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated in the ESI Act 1948. ESIC is a Statutory and an Autonomous Body under the Ministry of Labour and Employment, Government of India. ESIC , established by ESI Act, is an autonomous corporation under Ministry of Labour and Employment, Government of India. As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable and immovable property and all incomes from the property shall vest with the corporation. The corporation can set up hospitals either independently or in collaboration with state government or other private entities, but most of the dispensaries and hospitals are run by concerned state governments.
Your benefits
ESI scheme is a cover for workers which protects them with medical care for the insured and their dependents as well as offer a variety of cash benefits during loss of wages or disablement. Also, the scheme offers pension known as dependent benefit to the family members of the insured person in case of death or injury due to occupational hazards while at work.
- Employee’s Registration in ESIC with Nomination & Family details
- Generation of TIC (ESIC Card)
- Generation of Monthly Challan
- Uploading employee’s KYC document on ESIC portal
- Registration of Company (ROC)