In India, the Employees State Insurance Scheme (ESIC Scheme) is a government program managed by the Ministry of Labor and Employment to offer benefits to people with low incomes.
Millions of eligible workers who receive government-issued ESI cards can take advantage of the program, which provides them with pensions and free medical care. Companies with ten or more employees are eligible to enroll in the program, and the Employees’ State Insurance Corporation is in charge of selecting the beneficiaries.
Benefits from the ESIC scheme are only available to those whose monthly income is less than Rs. 21,000. The scheme requires contributions from both the employer and the employee, with the employer deducting 1.75 percent of the employee’s salary and the company contributing 4.75%. If the employee’s daily wage is less than Rs. 137, the government will pay the company’s share for the first three years.
The central government operates more than 150 hospitals and dispensaries in various states and union territories as part of the ESIC program, which provides low-income individuals with free medical services.
Free medical care and cash benefits for sick leave are available to eligible employees and their families. Women who work for the company are entitled to 26 weeks of paid maternity leave.
The employee’s family is entitled to a pension of up to Rs.10,000 in the event of their death. In India, low-income workers who may not have access to affordable healthcare and insurance receive crucial financial assistance through the ESIC program.
Companies with ten or more employees are required to register for the ESIC program in order to apply for it. The government issues ESI cards to eligible workers immediately.
The ESIC program contributes significantly to the promotion of social welfare and the reduction of inequality in India by providing millions of low-income workers with free medical care, pensions, and other benefits.
