Learn about the Employee’s State Insurance Corporation (ESIC) in India, a statutory body providing social security benefits to organized sector workers. Explore its medical, cash, maternity, and pension benefits, as well as the funding structure through employer and employee contributions. Understand how ESIC contributes to the well-being of workers and their families.
Employee’s State Insurance Corporation (ESIC) is a statutory body created by the Indian government under the Employee’s State Insurance Act, 1948. The act aims to provide social security benefits to workers in India. ESIC is responsible for implementing the provisions of the act and managing the various social security schemes that it provides.
ESIC provides social security benefits to workers in the organized sector, including factories, mines, ports, and other establishments that employ ten or more workers. The benefits include medical care, cash benefits during sickness, maternity benefits, and pension for disability or death due to employment injury.
ESIC operates through a network of regional offices and local offices spread across India. The organization manages a large number of hospitals and dispensaries that provide medical care to workers and their families. ESIC also manages a large number of medical colleges and nursing schools across India.
The medical benefits provided by ESIC are comprehensive and cover a wide range of medical services. The organization has tie-ups with a large number of hospitals and clinics across India, which provide medical services to ESIC beneficiaries. ESIC also has a large number of in-house hospitals and dispensaries that provide medical care to beneficiaries. The medical benefits provided by ESIC are free of cost, and there is no limit on the amount of medical care that can be availed by beneficiaries.
ESIC also provides cash benefits to workers during sickness. The benefit is provided as a daily cash allowance, which is equal to 70% of the wages of the worker. The benefit can be availed for up to 91 days in a year. The benefit is provided to workers who are unable to work due to sickness or disability.
ESIC also provides maternity benefits to women workers. The benefit is provided as a cash allowance for a period of 26 weeks. The benefit is provided to women workers who have contributed to the ESIC scheme for a minimum period of 80 days in the preceding 12 months.
ESIC also provides pension benefits to workers who have become disabled due to employment injury or to the dependents of workers who have died due to employment injury. The pension benefit is provided as a monthly allowance and is based on the wages of the worker.
ESIC is funded by contributions from employers and employees. Employers are required to contribute 4.75% of the wages of workers, while employees are required to contribute 1.75% of their wages. The contributions are made on a monthly basis, and the amount is calculated based on the wages of the worker.
ESIC has been instrumental in providing social security benefits to workers in India. The organization has played a key role in improving the lives of workers and their families by providing them with access to medical care and cash benefits during sickness. ESIC has also helped to reduce the financial burden on workers during times of illness or disability.
In conclusion, ESIC is a statutory body created by the Indian government to provide social security benefits to workers in India. The organization provides medical care, cash benefits during sickness, maternity benefits, and pension for disability or death due to employment injury. ESIC is funded by contributions from employers and employees and has been instrumental in improving the lives of workers in India.
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