EMPLOYEE’S STATE INSURANCE REGISTRATION
Employee’s State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers.it offers an economic & medical assurance to workers and its dependents. Besides providing medical benefits to workers and its dependents it also insure worker from temporary or permanent disablement and sickness.
ESI Registration is mandatory for employers having 10 or more employee, for all employees earning Rs.21,000 or less per month as wages. This compulsory insurance also helps employers to cover up their contingent liability of treatment and medical expenses, which may be incurred if any accident is happened at the business premises or factory.
Note: Any Employee whose wages (excluding remuneration for overtime work) exceed Rs. 21,000 at any time after (and not before) the beginning of the contribution period i.e., (April 1 to September 30 and October 1 to March 31), shall continue to be an employee until the end of that contribution period. But in the next contribution period, their name should be excluded from ESI employee list (being salary exceeding Rs. 21,000)
Ishtar Traders and Consultants LLP can help your business file Employee’s State Insurance (ESI) Registration. Our ESI experts can also help you compute Employee’s State Insurance payments and maintain ESI regulation compliance for your business.
Documents Required for ESI Registration
• 1st Sales Bill / Service Bill.
• Lease Deed / Rental Agreement.
• Partnership Deed / MOA and AOA.
• Copy of Telephone Bills / EB Bills.
• Copy of TNVAT / CST Certificate.
• Any proof of Trial Product / Work order.
• Resisted in Contracts Act – Copy of Registration Certificate.
• Copy of PAN Card.
• Statement showing Employee Strength from, Date of Starting the Business with Date of Joining.
• List of Partners / Directors of the Company.
• Copy of P&L and Balance Sheet last 3 Years.
• Details of Bank Account details.
• Nomination form in Form 2.
Employee’s State Insurance Registration Highlights
Employee’s State Insurance Corporation (ESI) is a self-financing social security and health insurance scheme for Indian workers. The scheme provides Employees with a comprehensive Social Security Scheme for protecting the employees during sickness, injury or disability.
ESI contributions must be made by the employer for all employees having a salary of less than Rs.21,000 per month. The employer must contribute 3.75% and employee must contribute 0.25% of the wages for ESI.
Employee’s State Insurance Corporation (ESI) is a self-ESI provides employees registered the scheme with a host of medical and sickness benefits. Employees registered under the scheme can avail medical facilities and are also entitled for sick pay benefits.
Organizations under ESI coverage must file annual return showing the changes if any during the preceding year. Return of contributions enclosing copy of all ESI contributions paid must be submitted once every six months.
ESI Registration is for Employers having more than 10 employees. The Employer must contribute 3.75% of the Employees’ wages towards ESI. Once, registered the organization is allotted a 17 digit unique identification code.
ESI Payment Deadline
ESI Contributions must be paid by the employer in to a bank authorized by the Corporation within 21 days of the last day of the calendar month in which the contribution is due.