ESIC registration is useful for both the employees and employer. ESI stands for Employee State Insurance and it is managed by the Employee State Insurance Corporation (ESIC) which is considered as an autonomous body created by the law under the Ministry of Labour and Employment of India.
In this blog, we will briefly discuss about ESIC registration. Here we will cover the topic which includes
- What is ESIC registration?
- Who is required to obtain ESIC registration?
- Benefits of ESIC registration
- ESIC registration Process.
- Documents required for ESIC registration
Let's start the journey!
What is ESIC registration?
ESI is a self-financing social security and health insurance scheme for Indian Workers. ESIC registration is a statutory responsibility of the employers of factory or any establishment. Registration under ESI Scheme is mandatory for every employer entity engaged in any economic field. ESIC registration provides monetary and medical benefits to employees in case of sickness, maternity etc.
Who is required to obtain ESIC registration?
- Factory and business establishment having 10 employees or more than that have to obtain ESIC registration.
- Shops, hotels, cinemas etc where 10 to 20 persons are employed need to take registration of ESIC
- Private medical and institutions employing 10 to 20 persons or more than 20 persons are required to obtain ESIC registration.
Benefits of ESIC registration
There is a numerous benefit of ESIC registration and same is discussed below:
- Medical benefits - By obtaining ESIC registration, you are entitled to get medical benefits. ESIC registration provides medical benefits to an employee and his/her family members
- Maternity benefit - Under ESIC registration, there is a provision for maternity benefit. Maternity benefit is given to women employees and it is given in the type of paid leaves.
- Sickness Benefit- Sickness benefit is another benefits of ESIC registration. Sickness benefit is generally given in the form of cash and an insured person is entitled to avail this benefit.
- Disablement benefit - As per the ESI scheme, employees are entitled to get disablement benefit. An insured employee who is suffering from physical disablement in course of his employment is entitled to get disablement benefit.
Documents required for ESIC registration
A number of documents as discussed below are required for ESIC registration.
- Copy of the PAN card of the establishment, firm etc.
- List of minium 10 employees
- Address proof of the establishment, firm etc.
- List of partners and directors of the establishment, firm etc.
- Copy of Bank statement
- Incorporation certificate of the establishment, firm.
Conclusion
ESIC registration is a statutory responsibility of the employers of factory or any establishment and by obtaining. By obtaining the ESIC registration you are entitled to avail a number of benefits as discussed above.
Enterslice is an award-winning company which provides world's best and affordable services relating to ESIC registration. If you are planning to obtain ESIC registration then kindly contact the team of Enterslice.
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