ESIC - Page 2

ESIC: Employees & Employers Contribution rate reduced to 1% & 3%

No.: I-11/15/10/2016-ICT (15/12/2016)

ICT Division has taken up the matter for necessary modification in the application to accommodate the calculation of the contribution at the reduced rates in the first time implemented areas. However, due to technical reasons the modification in the software is taking some time....

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Limit for Coverage under ESIC & More Sectors under ESIC & EPF

Government, in principle, decided to enhance the threshold limit of wage for coverage under the Employees’ State Insurance (ESI) Act, 1948 from existing Rs.15,000/- pm to Rs. 21,000/- pm....

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Posted Under: Corporate Law |

Acche Din for those earning upto Rs. 21000 per month

The Employees’ State Insurance Corporation (ESIC) has taken one more step toward acche din for those who are earning Rs. 21000 per month alongwith improved medical facilities including telemedicine services. In a recent meeting held, the ESIC board has decided to raise the monthly wages threshold to Rs 21,000, from the current Rs 1...

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Contribution under ESI Act, 1948 is not an interest-bearing deposit

The contribution payable under Employees'' State Insurance (ESI) Act, 1948 is not an interest-bearing deposit. The Central Board of Trustees (CBT), Employees’ Provident Fund (EPF) in its 211th meeting held on 16.02.2016 has proposed an interim rate of interest at 8.80 per cent to be credited to the accounts of Employees’ Provident Fun...

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Posted Under: Corporate Law |

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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ESIC Act, 1948- Applicability, Wages and Contribution

An employer is liable to pay his contribution in respect of every employee and deduct employees contribution from wages bill and shall pay these contributions at the above specified rates to the Corporation within 21 days of the last day of the Calendar month in which the contributions fall due. The Corporation has authorized designated b...

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Payroll: What are your (Employer’s) responsibilities?

Salary structure of employees need to be defined with an aim of providing maximum tax benefits to the employees. Indian Income Tax Act provides for very less tax benefits making the major portion of the salary as taxable. This makes it all the more important for the employer to explore all possibilities for minimum tax and then decide the...

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Posted Under: Corporate Law |

Single Online Common Return under 8 Central Labour Acts / Rules

Facility for Filing Online Single Return to be Launched Tomorrow The facility for filing Single Online Common Return under 8 Central Labour Acts / Rules on the ShramSuvidha Portal will be launched tomorrow. This service will reduce the transaction costs of business and make it easy and convenient to meet their obligations....

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Posted Under: Corporate Law |

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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