Navigating Employee Benefits
Navigating Employee Benefits
Employee State Insurance (ESI) works in accordance with the ESI Act of 1948. It is a government programme aiming to offer social security benefits to employees. Employee State Insurance (ESI) registration is a legal compliance requirement for enterprises in India, which is overseen by the Employee State Insurance Corporation. This plan provides social security and health insurance benefits to Indian workers earning a set monthly income, which often extends to their dependents. It applies to businesses with ten or more employees, depending on the industry and region.
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Advantages of ESIC Registration
Retired Medical Benefits
Extended Sickness Benefit
Enhanced Sickness Benefit
Temporary Disablement Benefit
Medical Benefits
Dependents' Benefit
Maternity Benefit
Funeral Expenses
Documents Required for ESI Registration
These are the essential company registration documents as outlined by our expert of ADMS FinCorp , who has aided over 10,000+ enterprises all over India with various consultations, including tax planning and business setup.
Business Registration Proof
Factories Act Registration
Shops and Establishment Act
Incorporation Certificate
Articles of Association
Company’s Founding Documents
Memorandum of Association
Property
Tax Receipt
Company Leadership Details
List of the company's directors
List of the company’s shareholders
Employee Attendance Register
FAQs for ESI Registration at ADMS Fincorp
What is ESI Registration, and why is it necessary?
ESI Registration is mandatory for employers under the Employees' State Insurance Act, 1948. It provides medical and cash benefits to employees in case of sickness, maternity, disablement, or death due to employment injury.
Who needs to register for ESI?
Any establishment with 10 or more employees, drawing wages of up to Rs. 21,000 per month, must register for ESI. Both employers and employees contribute to the ESI scheme.
What are the benefits of ESI Registration for employees?
ESI Registration ensures that employees have access to comprehensive medical care, including outpatient and inpatient treatment, maternity benefits, disability benefits, and more, at ESI hospitals and dispensaries.
How long does it take to complete the ESI Registration process?
The ESI Registration process typically takes around 15-20 days from the date of submission of the application, provided all documents are in order.