The Esi Act came in to existence on 1948 for proctecting the interest of workers and their dependents in the case of sickness, maternity , disabilities & death due to employment injury which results loss of earning capacity ; ESI offers medical care & monitery benefit in case of disablities & sickness.
Benefits
ESI provides the following benifits
Medical Benifit :- Medical treatment for employee and his dependents.
Sickness benifit :- This benifits is paid when an employee loss his income due to sickness. this compensation is paid in the form of cash.
Maternity benifit :- This benifit will be provided to women employee in the case of confinement misscarrae etc.
Disablement benifit:- Disablement benifit is depends up on the nature of of disability. for temporory disablement esi will give as cash up to 70 percentage of wages till the disability lasts.In case of permenant disability , benifit will be paid for a life time and the percentage of of payment will be calculated on the basis of the propotionate loss of earning capacity .and the capacity lost will be calculated by medical board.
Dependance Benifit:- This benifit is paid to employees dependence in case employees permenant disabilities, death due to employment injury etc. This benifit will paid as pension.
Employee state insurance ceiling is fixed to Rs 10000/ Month
The employee who draws Rs. 10000.00 p/m or more will not be covered under ESI
Contribution
Company shall be paid 6.5% of on total of each eligible employees wages to ESIC. Out of Which 1.75 % can be deducted from employee and balance 4.75 % will be paid by the employer as his expense..Normally Esi is calculated on gross salary.
The Esi Act came in to existence on 1948 for proctecting the interest of workers and their dependents in the case of sickness, maternity , disabilities & death due to employment injury which results loss of earning capacity ; ESI offers medical care & monitery benefit in case of disablities & sickness.
Benefits
ESI provides the following benifits
Medical Benifit :- Medical treatment for employee and his dependents.
Sickness benifit :- This benifits is paid when an employee loss his income due to sickness. this compensation is paid in the form of cash.
Maternity benifit :- This benifit will be provided to women employee in the case of confinement misscarrae etc.
Disablement benifit:- Disablement benifit is depends up on the nature of of disability. for temporory disablement esi will give as cash up to 70 percentage of wages till the disability lasts.In case of permenant disability , benifit will be paid for a life time and the percentage of of payment will be calculated on the basis of the propotionate loss of earning capacity .and the capacity lost will be calculated by medical board.
Dependance Benifit:- This benifit is paid to employees dependence in case employees permenant disabilities, death due to employment injury etc. This benifit will paid as pension.
Employee state insurance ceiling is fixed to Rs 15000/ Month
The employee who draws Rs. 15000.00 p/m or more will not be covered under ESI, previoulsly it was 10000.00 and new celing limit will be applicable from 01.05.2010
Contribution
Company shall be paid 6.5% of on total of each eligible employees wages to ESIC. Out of Which 1.75 % can be deducted from employee and balance 4.75 % will be paid by the employer as his expense..Normally Esi is calculated on gross salary.
ESI excel calculator
We have created an Esi excel calculator.you can download it here
Dear,
Can you please explain please? in our company a person even having more than 6500 or 7500 basic has to pay 12% of employee contributions and same is paid by the company also.
If you clarify, i will be thanking you.
Regards,
Misbah
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Hi
How to calculate ESI basic means it is inculuding all the benifits ( Basic+ HRA+ Medi+Uni allow+ da
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Searching more in order to something like this particular…
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