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Updated on 7 Apr 2020 9.00 AM IST | 4 min read
Online ESI Registration in India
The full form of ESI is Employee State Insurance. ESI is handled by an autonomous body called Employee State Insurance Corporation which comes under Ministry of Labour and Employment, Government of India. ESI scheme is initiated for the Indian workers.
Under this scheme, the employer offers various medical, monetary and other benefits to the workers. Companies having more than ten employees (in some states, it is 20) and having maximum salary of Rs.15,000 has to mandatorily register itself with the Employee State Insurance Corporation.
Under this scheme, the employer needs to contribute 4.75% of the total monthly salary payable to the employee whereas employee needs to contribute only 1.75% of the total monthly salary. The employees whose salaries are less than 100 rupees per day are exempted to pay this contribution.
Advantages of ESI Registration
The advantages of ESI registration are as follows:
Medical expenses for old age care
If an employee declared disabled or dead at work, then 90% of the employee salary is given to his or her family or dependents every month.
Maternity benefit provided to the women employees in the form of paid leaves.
Medical benefits to the employee and to the family members
If the employee illness is certified and his or her illness lasts for maximum 90 days in a year, sickness benefit is provided to the employee at the rate of 70% in the form of salary.
What Is Included In Our Package?
Entities covered by ESIC (Employees' State Insurance Corporation)
The following entities are covered under ESI as per government notification dated Sec 1(5) of the ESI act –
Documents required for ESI registration in India
The documents needed for the ESI registration are as follows:
Certificate of registration in case of a company or partnership deed in case of a partnership firm.
Certification of registration obtained under factories act or shops and establishment act
Memorandum of association and articles of association of the company
PAN card of all the employees and the business entity.
Attendance registers of the employees
List of shareholders of the company
List of directors of the company
Cancelled cheque of company’s bank account
Compensation details of all the employees
List of all employees working in the company
After collecting the documents mentioned above, we have to fill the registration form (Form no.1) and the same has to be filed on the portal along with the documents mentioned above.
Documents Required for ESI Return Filing
How Finacbooks help in ESI Registration in India?
Finacbooks is a leading Indian portal providing accounting, finance & taxation services to small businesses. We are having more than 10 years of experience in helping companies for ESI Registration in India. We will guide you through the entire process of ESI Registration in India. To avail the best deals on ESI Registration, kindly call us at 8800221252 or you can also e-mail us at firstname.lastname@example.org
ESI Registration FAQ's
Total amount of contribution for all employees every month can be deposited in any SBI branch in cash or by cheque or demand draft on generation of challan through ESIC portals. It can also be paid online through SBI internet banking.