ESIC

Changes in ESIC/ESI With Effect From 1st October, 2019

Corporate Law - The ESI Act 1948, encompasses certain health related eventualities that the workers are generally exposed to; such as sickness, maternity, temporary or permanent disablement, Occupational disease or death due to employment injury, resulting in loss of wages or earning capacity-total or partial. Social security provision made in the Act to...

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All About ESIC and PF with New Rates of ESIC

Corporate Law - Applicability of the ESI scheme  The ESI scheme is applicable to all factories and other establishments as defined in the Act with 10 or more persons employed in such establishment and the beneficiaries’ monthly wage does not exceed Rs 21,000 are covered under the scheme. Whether the employer has employed 10 or more employees, all [&he...

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Employees’ State Insurance: Eligibility criteria, Benefits, Recent Changes

Corporate Law - ESI means self-funded social security and health insurance scheme specifically for Indian employees. This is managed with the help of ESI Act 1948, by employee’s state insurance corporation based on rules and regulations. Eligibility criteria: The ESI funds are applicable only for the employees whose salary is not exceeding beyond 21,00...

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Disallowance of Contribution of PF, ESIC etc u/s 36(1)(va) – A Comparative Study between Section 36(1)(va) Vs. Section 43-B

Corporate Law - Section 36(1)(va) Vs. Section 43-B If the assessee fails to deposit the PF, ESIC etc Contribution before the due dates as per the respective Acts. Effect of Section 43B on unpaid liability towards contributions to any provident fund or superannuation fund or any fund set up under the provisions of the Employees’ State Insurance Act,...

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List of documents required for closure of ESI & PF account

Corporate Law - List of documents required for closure of ESI account In case of company  the following documents may be an evidence for closure of your ESI code No: 01. Proof of Sale of your machinery; 02. Full & final Settlement of workers along with evidence, such as acquitance of all the discharged employees towards full and […]...

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Government Reduces Rate of ESI Contribution from 6.5% to 4%

Corporate Law - The Government of India has taken a historic decision to reduce the rate of contribution under the ESI Act from 6.5% to 4%(employers’ contribution being reduced from 4.75% to 3.25% and employees’ contribution being reduced from 1.75% to 0.75%). Reduced rates will be effective from 01.07.2019.This would benefit 3.6 crore employees and ...

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Guidelines for Registration of Factory/Establishment under ESI Act 1948

Corporate Law - The ESI Act, 1948 is applicable to all factories and notified establishments in an implemented area employing 10 or more employees employed for wages. a) For Factory:‑ The threshold for coverage of “factory”, as per section 2(12) of the ESIC Act is 10 which are located in implemented areas. At present the Act is extended [&h...

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ESIC to improve its service delivery mechanism 

Corporate Law - ESI Corporation took important decision towards improvement in its service delivery mechanism. It was decided that ESIC will also bear the 1/8th share of expenditure earlier used to be borne by States. ...

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Proposed Reduction in Employee & Employer contribution for ESIC

Corporate Law - Ministry of Labour and Employment has issued Gazette Notification G.S.R 121 (E) dated 15/02/2019 (Notification attached) notifying Draft Rules proposing to reduce Employee Contribution for ESIC to 1% from 1.75% and Employer Contribution to 4% from 4.75 %. Currently, the employee’s ESI contribution rate is 1.75% of the wages and that of ...

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Two New Facilities for ESIC Beneficiaries Launched

Corporate Law - In order to empower Insured Persons and their beneficiaries and create awareness among other Stakeholders, ESIC has come up with two new user friendly initiatives. The initiatives include the facility of ‘IVR (Interactive Voice Response)/Help Desk’ for ESIC Toll Free No. – 1XXX-XX-2526 and production of seven Audio-Visual cl...

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Deduction u/s 43B for EPF / ESIC paid after due date

M.V.S Engineering Ltd Vs The CIT (Delhi High Court) - In this case high court held that payment of employees contribution under the Employees Provident Fund and Misc. Provision Act, 1952 and the Employees State Insurance Act, 1948 is allowable if paid before the due date of filing Income Tax Return or filing of Income Tax Return whichever is earlier e...

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Casual workers covered in employee under ESI Act 1948- SC

Royal Western India Turf Club Ltd. Vs E.S.I. Corporation & Ors. (Supreme Court of India) - A person who is employed for wages in the factory or establishment, on any work of, or incidental or preliminary to or connected with the work is covered. The definition brings various types of employees within its purview....

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ESIC Act 1948 Power to reduce imprisonment not extended to fine: SC

Employees State Insurance Corporation Vs A.K. Abdul Samad & Anr. (Supreme Court of India) - SC held that object of creating offence and penalty under the Employees’ State Insurance Act, 1948 is clearly to create deterrence against violation of provisions of the act which are beneficial for the employees....

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Employees’ PF/ ESI Contribution not covered by Section 43B

Commissioner of Income Tax II Vs Gujarat State Road Transport Corporation (Gujarat High Court at Ahmedabad): Tax Appeal No. 637 of 2013 - Section 43B which permits a deduction for payments made upto the due date for filing the ROI applies only to the employer’s contribution to the provident fund etc. It does not apply to the employees’ contribution. ...

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Workers of contractor not eligible for ESI benefits

The Managing Director, Hassan Co- operative Milk Producer's Society Union Limited Vs The Assistant Regional Director Employees State Insurance Corporation (Supreme Court of India) - The workers of a contractor engaged by an establishment do not get the benefits of the Employees State Insurance Corporation Act, the Supreme Court stated last week in the judgment, Managing Director, Hassan Co-operative Milk Producer's Society Union Ltd vs ESI Assistant Regional Director....

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Employees’ State Insurance (Central) Amendment Rules, 2019

1. (1) These rules may be called the Employees' State Insurance (Central) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Employees' State Insurance (Central) Rules, 1950, in rule 52, for the words rupees one hundred thirty se...

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Government Reduces Rate of ESI Contribution from 6.5% to 4%

G.S.R. 423(E) - (13/06/2019) - The Government of India has taken a historic decision to reduce the rate of contribution under the ESI Act from 6.5% to 4%(employers’ contribution being reduced from 4.75% to 3.25% and employees’ contribution being reduced from 1.75% to 0.75%). Reduced rates will be effective from 01.07.2019.Thi...

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ESIC New Rates w.e.f 01.07.2019

Notification No. G.S.R. 423 (E). - (13/06/2019) - In a historic decision, the Union government has cut the contributions made by employers and employees toward the health insurance scheme of Employees’ State Insurance Corporation (ESIC). The total contribution has been cut to 4 per cent from the current 6.5 per cent. The contribution rate cut...

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Draft Employees State Insurance (Central) (Amendment) Rules 2019

Notification No. G.S.R. 121(E) - (15/02/2019) - DRAFT RULES 1. (i) These rules may be called the Employees’ State Insurance (Central) (Amendment) Rules, 2019. (ii) They shall come into force on the date of its final publication in the Official Gazette....

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ESIC payment due date pre-poned to 15th of following month

No. N-12/13/1/2016-P&D - (01/07/2017) - Now due date for payment of ESIC is not within 21 days of following month, but within 15 days of following month.Regulation 31 stands amended whereby the contribution in respect of any employee shall be paid within 15 days of the last day of the calender month in which the contributions fall due. Th...

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Recent Posts in "ESIC"

Changes in ESIC/ESI With Effect From 1st October, 2019

The ESI Act 1948, encompasses certain health related eventualities that the workers are generally exposed to; such as sickness, maternity, temporary or permanent disablement, Occupational disease or death due to employment injury, resulting in loss of wages or earning capacity-total or partial. Social security provision made in the Act to...

Read More
Posted Under: Corporate Law |

Employees’ State Insurance (Central) Amendment Rules, 2019

1. (1) These rules may be called the Employees' State Insurance (Central) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Employees' State Insurance (Central) Rules, 1950, in rule 52, for the words rupees one hundred thirty seven, the words rupees one hundred sevent...

Read More

All About ESIC and PF with New Rates of ESIC

Applicability of the ESI scheme  The ESI scheme is applicable to all factories and other establishments as defined in the Act with 10 or more persons employed in such establishment and the beneficiaries’ monthly wage does not exceed Rs 21,000 are covered under the scheme. Whether the employer has employed 10 or more employees, all [&he...

Read More
Posted Under: Corporate Law |

Employees’ State Insurance: Eligibility criteria, Benefits, Recent Changes

ESI means self-funded social security and health insurance scheme specifically for Indian employees. This is managed with the help of ESI Act 1948, by employee’s state insurance corporation based on rules and regulations. Eligibility criteria: The ESI funds are applicable only for the employees whose salary is not exceeding beyond 21,00...

Read More
Posted Under: Corporate Law |

Government Reduces Rate of ESI Contribution from 6.5% to 4%

G.S.R. 423(E) (13/06/2019)

The Government of India has taken a historic decision to reduce the rate of contribution under the ESI Act from 6.5% to 4%(employers’ contribution being reduced from 4.75% to 3.25% and employees’ contribution being reduced from 1.75% to 0.75%). Reduced rates will be effective from 01.07.2019.This would benefit 3.6 crore employees and ...

Read More

ESIC New Rates w.e.f 01.07.2019

Notification No. G.S.R. 423 (E). (13/06/2019)

In a historic decision, the Union government has cut the contributions made by employers and employees toward the health insurance scheme of Employees’ State Insurance Corporation (ESIC). The total contribution has been cut to 4 per cent from the current 6.5 per cent. The contribution rate cut is expected to help firms save around R...

Read More

Disallowance of Contribution of PF, ESIC etc u/s 36(1)(va) – A Comparative Study between Section 36(1)(va) Vs. Section 43-B

Section 36(1)(va) Vs. Section 43-B If the assessee fails to deposit the PF, ESIC etc Contribution before the due dates as per the respective Acts. Effect of Section 43B on unpaid liability towards contributions to any provident fund or superannuation fund or any fund set up under the provisions of the Employees’ State Insurance Act,...

Read More
Posted Under: Corporate Law |

List of documents required for closure of ESI & PF account

List of documents required for closure of ESI account In case of company  the following documents may be an evidence for closure of your ESI code No: 01. Proof of Sale of your machinery; 02. Full & final Settlement of workers along with evidence, such as acquitance of all the discharged employees towards full and […]...

Read More
Posted Under: Corporate Law |

Guidelines for Registration of Factory/Establishment under ESI Act 1948

The ESI Act, 1948 is applicable to all factories and notified establishments in an implemented area employing 10 or more employees employed for wages. a) For Factory:‑ The threshold for coverage of “factory”, as per section 2(12) of the ESIC Act is 10 which are located in implemented areas. At present the Act is extended [&h...

Read More
Posted Under: Corporate Law |

Scope of Spice Form widened by Covering GSTIN, ESIC & EPFO Registration

Spice Form has Widened its Scope by Covering Three Important Registration Viz GSTIN, ESIC and EPFO The Ministry of Corporate Affairs in its notification dated 29th March, 2019, inserted a new Rule 38A under the Companies (Incorporation) Third Amendment Rules, 2019. Scope : The application for Incorporation of Company under Rule 38 shall b...

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Posted Under: Corporate Law |

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