- 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|
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|