ESI (Employee’s State Insurance) is a self financing scheme for social security and health security. It is a scheme for medical and sickness benefits. The employees who register under the scheme are entitled for medical facilities and sick pay benefits.
Who should register?
Employers having more than 10 employees should register. Employers must contribute for all employees having a salary less than RS. 15000 per month. The employer must contribute 4.75% and employee must contribute 1.75% of the wages for ESI.
How to register?
If the company has a factory, it needs to register ESI within 15 days of establishment.
To register, submit an employer’s registration form (Form-01) to the regional authority. After registration, a unique identification number is issued called code number.
Documents required for ESI?
- Pan/ address proof of company.
- Evidence of date of commencement of business
- List of partners/ directors with id proof and address proof
- Moth wise employment position
- Copy of license
- Copy of service tax and first billing invoice
- Bank account statement
- Rent/ lease deed
What documents are to be maintained?
The following needs to be maintained:
- Attendance Register;
- Wages Register;
- Form-6 Register (statutory half yearly return);
- Accident Register;
- Inspection Book
- File containing all monthly challans & returns submitted.
Time taken for ESI
It takes about 12-20 working days for registration
Cost for ESI
Price varies from vendor to vendor. Cost generally ranges between RS. 8000-10000 for registration of less than 20 employees.