ESI Registration

ESI Registration

Why ?

  • Provides complete medical care to employees
  • Includes employee’s dependants also
  • Mandatory for units with >10 employees


Applicability

The following establishments employing 10 or more persons attracts ESI coverage:
  • Shops
  • Hotels or restaurants not having any manufacturing activity, but only providing service.
  • Cinemas
  • Roadside Motor Transport Establishments;
  • News paper establishments.
  • Private Educational Institutions and Medical Institutions
In some states the minimum employees required for coverage is for 20 or more. A few State Governments have not extended scheme to include Medical & Educational Institutions.


Employee State Insurance Corporation

Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family.
Units or Establishments that have 10 or more employees, drawing the wages of up to Rs.15,000 a month are required to be registered for ESIC under the ESI Act 1948. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages. At present, covered employees contribute 1.75% of the wages to the ESIC and covered employers contribute 4.75% of the wages, payable to their employees. The state government also contribute 1/8th share cost of medical benefit. ESI Registration is done through LegalRaasta.
All Establishments and Factories employing more than 10 employees are required to mandatorily apply for ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them. ESI Registration can be done through LegalRaasta in Delhi NCR, Mumbai, Bengaluru, Chennai and other Indian cities.

Documents Required

To be Submitted by Employer:
  • Registration Certificate or Licence issued under Shops and Establishment Acts or Factories Act.
  • Address Proof: Latest Rent receipt of the premises you are occupying indicating the capacity in which the premises are occupied, if applicable.
  • Latest building Tax/Property Tax receipt (Photocopy).
  • Memorandum and Articles of Association/Partnership Deed/Trust Deed depending on the entity that is applying for registration.
  • Photocopy of certificate of Commencement of production and/or Registration No. of CST/ST (or GST once it becomes applicable).
  • Copy of PAN Card
  • Evidence in support of the date of commencement of production/business/first sale (e.g. Copy of First Invoice).
  • Month wise employment position, salary etc.
  • Copy of bank statement
To be Submitted by Employees:
  • Family Photo in Duplicate
For more details pls contact us at myCAfilings.com

Comments

Post a Comment

Popular posts from this blog

How to Register for GST Online

Image
This article will help you understand the basic procedures of GST Registration Every dealer whose Annual turnover exceeds Rs 20 lakh (for special states, the amount is Rs 10 lakh) has to register for GST. Here is a step-by-step guide on how to complete registration process online on the GST Portal – Step 1 – Go to GST portal . Click on Register Now under Taxpayers (Normal) Step 2 – Enter the following details in Part A – Select New Registration In the drop-down under I am a – select Taxpayer Select State and District from the drop down Enter the Name of Business and PAN of the business Key in the Email Address and Mobile Number. The registered email id and mobile number will receive the OTPs. Click on Proceed Step 3 – Enter the OTP received on the email and mobile. Click on Continue. If you have not received the OTP click on Resend OTP. Get Experts to Register Your Business Under GST Step 4 – You will recei...
Read more

Business Startups Checklist

Are you starting new business ? then you must read this article. We suggest before you take any decision of leaving your full time high paying job to take a plunge and start your own business, ask yourself if you have the traits and caliber to get down on ground and do the job?  Do you have it in you to be an aspiring entrepreneur? Starting a business is not a simple task and at the same it is not a Rocket science task either. If you have a plan, adequate funding, knowledge and passion to set it up with appropriate marketing and business development skills – then you are on the right path! The key to setting a new business from scratch is to be organized and most importantly to “prepare a check on yourself”. Business Need check: Are really ready to start a business? When asked, most entrepreneurs are clueless and do not have a concrete answer to the question “why do you want to start your own business”? The clarity or the lack of vision to start a bu...
Read more