ESI - Employee state insurance

In any company you’ll go, will find a department of HR. This department is responsible for each and every asset of the company to be taken care of. One of the most important and valuable asset of the company is it’s employees. HR department has to take care that the employees of the company are well paid and  retained for long time. In order to do so there are various facilities provided to employees as per their remunerations.

If you are a student or are into the management , you should have practical knowledge about all the HR processing and that can be done with the help of HR Training in Chandigarh.  

But before that one must be knowing a segment of it. Let’s start with ESI :

Employees’ State Insurance (ESI)

One of the major and necessary key factor and benefit provided to employees having their salary up to Rs. 21,000 per month. This is one of the most popular social security scheme called Employees’ State Insurance Scheme. The scheme was designed for the employees if every sector in order to provide a sense of security towards their health and save the money being spent on medical issues.

This Scheme is regulated by Employees’ State Insurance Corporation (ESIC) under the Indian ESI ACT of 1948.

Benefits  of ESI

The employees having their salary RS. 21000 or less than that are availed with this facility. This scheme includes the employer contribution of 4.75% and employee contribution of 1.75% out of the total 6.5% of share for ESIC.

The employees and their families registered under this scheme are availed with the medical and cash benefits from ESIC.

ESIC have a large network of branch offices, dispensaries, and hospitals all over  India. The major benefits covered under the scheme are :

• In case of sickness lasting more than 91 days, employee is benefited.
• Medical benefits and facilities are provided if required to the employee and his/her family.
• Paid leaves of three months as a maternity benefit is provided to pregnant women employees.
• In case of death of an employee within the company premises or due to any occupational hazard, ESIC pays 90% of employee’s salary to his/her dependents every month.
• In case the employee becomes disabled to work he/she will be paid 90% of the monthly salary.
• There are various other benefits being offered by ESIC  to employees which includes funeral expenses compensation, physical rehabilitation, vocational rehabilitation, old age medical care, etc.
• In the recent years ESIC has introduced a Smart Card called PEHCHAN Smart Card with the help of Information Technology. This card is being provided to the registered employees in order to avail the benefits in more easier and hassle free ways.
• Adding to this, the poor families and insured labour class workers are also eligible to avail the facilities under the scheme Rashtriya Swasthya Bima Yojna in ESI dispensaries and Hospitals throughout India.

This is just a basic information about ESI. But an HR executive/manager must know how to register employees in ESIC, whom to register and how to calculate. All these things are meant to be learnt practically from HR Training In Chandigarh.