Employees’ State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers.The fund is managed by the Employees’ State Insurance Corporation (ESIC) according to rules and regulations stipulated in the ESI Act 1948. ESIC is a Statutory Body and Administrative Ministry is Ministry of Labour and Employment, Government of India
What are the benefits of ESIC?
Employees State Insurance Corporation Offers Many Attractive Features And Benefits. It Not Only Provides Medical Benefits But It Also Comes With A Level Of Financial Difficulty In Times Of Financial Security Such As Unemployment, Etc. Some Of These Are Listed Below:
Medical Benefits: The ESIC Takes Care Of A Person’s Medical Expenses By Providing Proper Medical Care. This Benefit Is Applicable From The First Day Of Employment Of The Person.
Disability Benefit: ESIC Provides Another Important Benefit To The Employee Who Is Disabled, In Case Of Temporary Disability ESI Provides To The Employee Their Monthly Salary Or For The Remaining Life Of The Employee In Case Of Permanent Disability.
Maternity Benefit: Employees Who Are Registered Under ESI. ESIC Helps Welcome Their Child To The Home. In A Sample Of ESIC Labor, For A Period Of 26 Weeks To 6 Weeks And Abortion 6 Weeks, The Stereotype Provides A Total Of 100% Of The Daily Wage. In The Case Of Adoption, A Salary Of 12 Weeks Is Provided.
Sickness Benefit: It Is Ensured By ESIC That Cash Flows Into The Employee’s Home During Medical Leave.70% Of An Employee’s Average Daily Wage Is Paid During A Medical Leave For A Maximum Period Of 91 Days In A Two-Day Remuneration Period.
Unemployment Allowance: ESI Provides A Monthly Monetary Allowance For The Most Amount Of Twenty-Four Months Just In Case Of Permanent Illogic Because Of Non-Employment Injury Or Involuntary Loss Of Employment.
Dependent’s Benefit: If The Employee Suffers Untimely Death Due To Injury At The Place Of Employment, ESIC Will Provide Monthly Payments Among The Surviving Dependents.