Employee State Insurance Corporation
Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family.
Units or Establishments that have 10 or more employees, drawing the wages of up to Rs.15,000 a month are required to be registered for ESIC under the ESI Act 1948. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages. At present, covered employees contribute 1.75% of the wages to the ESIC and covered employers contribute 4.75% of the wages, payable to their employees. The state government also contribute 1/8th share cost of medical benefit.
Documents Required for ESI Registration
- Name of the company
- Date of setup of the company
- Scan copy of company’s PAN (Proprietor’s, in case of proprietorship concern)
- Scan copy of Licences available in name of the company. (like Service Tax, VAT etc)
- Scan copy cheque of company’s bank A/c
- Address of the company with address proof
- List of Directors/Partners
- Address proof of Proprietor/Director/Partner
- Email address, Mobile Number of Proprietor/Director/Partner
- Copy of First Sale Bill/Job Work Bill and first Purchase Bill
- Monthly strength of employees from Date of setup
- Current List of employees with details:
- Father’s Name
- Date of Joining
- Date of Birth
- Mobile Number
- Postal Address
- Grade (Unskilled, Semi, Skilled)
- ID proof (Aadhar and PAN)
- Bank A/c number with IFS Code
- Digital Signature of Proprietor/Director/Partner
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- ESI registration for businesses having less than 20 employees.
- ESI & PF registration for businesses having less than 20 employees.
- ESI and PF registration for businesses having less than 50 employees.