1 / 5

WHAT IS THE PROCESS OF ESI REGISTRATION BY INDIA TAX?

ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India.<br>

itaxinfo
Download Presentation

WHAT IS THE PROCESS OF ESI REGISTRATION BY INDIA TAX?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 8/8/2020 WHAT IS THE PROCESS OF ESI REGISTRATION? | by India Tax | Aug, 2020 | Medium Only you can see this message This story's distribution setting is on. Learn more WHAT IS THE PROCESS OF ESI REGISTRATION? India Tax Aug 6 · 3 min read ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India. https://medium.com/@itaxinfo6/what-is-the-process-of-esi-registration-27558b33a60 1/5

  2. 8/8/2020 WHAT IS THE PROCESS OF ESI REGISTRATION? | by India Tax | Aug, 2020 | Medium This scheme is started for Indian workers. The workers are provided with a huge variety of medical, monetary and other benefits from the employer. Any Company having more than 10 employees (in some states it is 20 employees) who have a maximum salary of Rs. 15000/- has to mandatory register itself with the ESIC. Under this scheme, the employer needs to contribute an amount of 4.00% of the total monthly salary payable to the employee whereas the employer needs to contribute only 1.00% of his monthly salary every month of the year. The only exception to the employee in paying his contribution is whose salary is less than Rs. 100/- per day. https://medium.com/@itaxinfo6/what-is-the-process-of-esi-registration-27558b33a60 2/5

  3. 8/8/2020 WHAT IS THE PROCESS OF ESI REGISTRATION? | by India Tax | Aug, 2020 | Medium What are the benefits of ESIC registration? The benefits of registering under this scheme are varied. Some of them are: 1. Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year 2. Medical Benefits to an employee and his family members 3. Maternity Benefit to the women who are pregnant (paid leaves) 4. If the death of the employee happens while on work — 90% of the salary is given to his dependents every month after the death of the employee 5. Same as above in case of disability of the employee 6. Funeral expenses 7. Old age care medical expenses Entities covered under ESIC As per the government notification dated Sec 1(5) of the ESI Act the following entities are covered: 1. Shops 2. Restaurants or Hotels only engaged in sales. 3. Cinemas 4. Road Motor Transport Establishments; 5. Newspaper establishments (which is not covered under the factory act) 6. Private Educational Institutions What are the documents required for ESIC Registration https://medium.com/@itaxinfo6/what-is-the-process-of-esi-registration-27558b33a60 3/5

  4. 8/8/2020 WHAT IS THE PROCESS OF ESI REGISTRATION? | by India Tax | Aug, 2020 | Medium The documents required for the registration are – 1. A registration certificate obtained either under the: a. Factories Act b. Shops and Establishment Act 2. Certificate of Registration in case of Company, and Partnership deed in case of a Partnership 3. Memorandum of Association and Articles of Association of the Company 4. A list of all the employees working in the Establishment 5. PAN Card of the Business Entity as well as all the Employees working under the entity 6. The compensation details of all the employees 7. A cancelled cheque of the Bank Account of the Company 8. List of Directors of the Company 9. List of the Shareholders of the Company 10. Register containing the attendance of the employees After collecting all the above-mentioned documents the following procedure is to be followed for the registration of the ESI: a. Form No — 1 (Employers Registration Form) is to be downloaded and filled. b. After downloading the PDF version of the form and filling it, it has to be submitted on the website itself along with the above-mentioned documents. What is the process after the form verification? Step 1: After verification of the form, the government will issue a 17 digit unique number https://medium.com/@itaxinfo6/what-is-the-process-of-esi-registration-27558b33a60 4/5

  5. 8/8/2020 WHAT IS THE PROCESS OF ESI REGISTRATION? | by India Tax | Aug, 2020 | Medium Step 2: The employee who is registered under this scheme will provide the employer with the filled form and photographs of his own family members as a part of the process of registration and will get an ESI card after registration Step 3: Any change in the Company or its employees will be intimated to the ESIC How many returns are filed every year after the registration is finalised? After the registration ESI Returns have to be filed twice a year. The following documents are required for the filing of the returns: 1. Register of Attendance of the Employees 2. Form 6 — Register 3. Register of wages 4. Register of any accidents which have happened on the premises of the business 5. Monthly returns and challans Esi Registration Gst Income Tax Return About Help Legal Get the Medium app https://medium.com/@itaxinfo6/what-is-the-process-of-esi-registration-27558b33a60 5/5

More Related