Do you know what is the ESIC Full Form? ESIC is an acronym that stands for Employees’ State Insurance Corporation. The ESIC is a social security and health insurance scheme designed to provide medical and cash benefits to employees and their families. The Ministry of Labor and Employment of the Government of India oversees the self-financing ESIC. The scheme is applicable to factories and establishments with ten or more employees and provides a range of benefits including medical care, sickness benefits, maternity benefits, disablement benefits, and more.
What is the ESIC Full Form?
ESIC Full From – Employees State Insurance Corporation
What is ESIC?
ESIC is a social security scheme implemented by the Indian Government in 1952. The scheme provides medical, cash, and other benefits to employees working in factories or premises that fall under the purview of the ESIC Act.
History of ESIC
The ESIC Act was passed in 1948 and it came into force on 24th February 1952. The aim of the scheme was to provide social security to employees by providing them with medical and cash benefits. It is managed by the Employees’ State Insurance Corporation, which is governed by the Ministry of Labour and Employment, Government of India.
Benefits and Coverage under ESIC
Benefits:
- Medical treatment and care
- Cash benefits during sickness and maternity leave
- Disability benefits for employment-related injuries or accidents
- Dependent benefits in case of death due to employment-related injuries or accidents
- Maternity benefits for pregnant insured women
- Funeral expenses for dependents in case of death due to employment-related injuries or accidents
Coverage:
- Mandatory for all workers in certain organisations or sectors who receive a monthly wage of up to Rs 21,000
- Employer contributes 4.75% of employee’s salary towards ESIC
- An employee contributes 1.75% of their salary towards ESIC
Eligibility Criteria for ESIC
Who is Eligible for ESIC?
Employees earning a salary of up to Rs. 21,000 per month are eligible for ESIC benefits. The ESIC scheme covers both temporary and permanent employees.
Conditions for Eligibility
The employer must be registered under the scheme and the employee must have completed 91 days of continuous service with the employer. The employee must also be registered under ESIC and have a valid ESIC card.
How to Apply for ESIC?
The ESIC registration process is now completely online. Here are the steps involved for apply for ESIC:
- Log in to the ESIC portal using the employer login option and click on “Sign Up” to fill in the details and submit the form.
- After submitting the form, the employer will receive a confirmation email with the username and password information needed to register as both an employer and an employee under the ESIC scheme.
- Log in to the ESIC portal using the received username and password and select “New Employer Registration” under the employer login option.
- Fill in the details on the Employer Registration – Form 1 including unit, employer, factory/establishment, and employee details. Submit the form after completion.
- Pay the advance contribution for 6 months on the “Payment of Advance Contribution” page.
- On successful payment, the system will generate a Registration Letter (C-11) containing a 17-digit registration number that serves as proof of registration.
Documents Required for ESIC Registration
Here are the documents required for ESIC registration:
- The Registration Certificate is obtained under the Factories Act or Shops and Establishment Act.
- Certificate of incorporation of the establishment (company registration certificate in case of a company, partnership deed in case of a partnership firm).
- GST certificate of the establishment.
- The Memorandum of Association and Articles of Association of the company.
- Address proof of the establishment (utility bills, rental agreement or property tax receipts).
- List of all employees working in the establishment.
- PAN card of the business establishment and all employees.
- Compensation details of all employees.
- Cancelled cheque from the bank account of the company.
- List of directors and shareholders of the company.
- Register to contain the attendance of the employees.
FAQs- What Is The ESIC Full Form?
Q.1. What is the ESIC Full Form?
Ans. The ESIC Full Form stands for Employees’ State Insurance Corporation.
Q.2. What is ESIC?
Ans. ESIC is a self-financing social security and health insurance scheme for Indian workers that provides medical care and cash benefits in case of sickness, maternity, and employment injury.
Q.3. Who is eligible for ESIC benefits?
Ans. Employees earning a salary of up to Rs. 21,000 per month are eligible for ESIC benefits.
Q.4. What benefits are covered under ESIC?
Ans. ESIC covers medical care, maternity benefits, sickness benefits, and employment injury benefits.
Q.5. Is ESIC mandatory for employers in India?
Ans. Yes, ESIC is mandatory for all employers who have more than 10 employees, including both permanent and temporary employees.
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