- Employees’ State Insurance is a self financng social socurity and health insurance scheme for Indian workers.
- The fund is managed bu the Employees’ State Insurance Corporation according to rules and regulations.
Applicability of ESCI:
- The ESIC scheme is applicable to all factories asdedined in the Act exclidong seasonal factory for mine.
- The factory must explouee 10 or more employees.
- The beneficiaries whose monthly wage does not exceed Rs 21000 are covered under the scheme.
ESIC Contribution Rates:
| ESIC CONTRUBUTION RATES w.e.f. 01.07.2019 | ||
| Description | Current Rate | New Rate |
| Employer Share | 4.75% | 3.25% |
| Employee Share | 1.75% | 0.75% |
| Toal | 6.50% | 4.00% |
ESCI Return Due Date:
- ESIC Return filling and payment can be both done at the same time. So, The ESCI return due date is the same as the date of payment ( on or before 15th of every month )
Penalty for Delayed Payment:
| Sr No | Time-Period of Delay | Rate of Penalty |
| 1 | Delay for up to 2 months | 5% per annum |
| 2 | Delay ranging from 2 months to 4 months | 10% per annum |
| 3 | Delay from 4 months to 6 month | 15% per annum |
| 4 | Delay after 6 month | 25% per annum |
