ESIC Registration
What is ESIC Registration?
ESIC (Employees’ State Insurance Corporation) registration is mandatory for employers under the ESI Act, 1948. It provides medical benefits, sickness benefits, maternity benefits, and various other benefits to employees.
Who Should Register for ESIC?
Employers having 10 or more employees (in some states, it’s 20 or more) are required to register for ESIC.
Benefits of ESIC Registration:
- Medical Benefits: Employees and their dependents receive medical care through ESIC hospitals and dispensaries.
- Sickness Benefits: Cash benefits for temporary or permanent disablement due to employment injury.
- Maternity Benefits: Paid leave during pregnancy and post-delivery medical expenses.
- Disablement Benefit: Monthly payment for work-related disabilities.
- Dependent’s Benefit: Payment to dependents in case of an employee’s death due to employment injury.
- Registration Certificate of the Business Entity
- Memorandum and Articles of Association (for companies)
- Certificate of Incorporation (for companies)
- PAN Card of the Business Entity
- List of Employees with their Monthly Salary Details
- Bank Statement
Procedure for ESIC Registration:
- Online Application: Fill and submit Form 01 through the ESIC portal.
- Verification: ESIC authorities verify the application and documents.
- Registration Certificate: Upon approval, a 17-digit unique registration number is issued.
Compliance Requirements:
- Monthly Contribution: Employers and employees contribute a fixed percentage of wages towards ESIC.
- Filing Returns: Quarterly returns (Form 5) and half-yearly return (Form 6) must be filed.
Penalties for Non-Compliance:
Failure to register or comply with ESIC regulations may lead to penalties, fines, or legal action by ESIC authorities.
ESIC registration is crucial for employers to ensure welfare benefits for their employees as mandated by law. It helps in providing social security and medical benefits, thereby contributing to employee satisfaction and retention.
For detailed guidance and assistance, employers can consult with ESIC experts or legal advisors to ensure seamless compliance with ESIC regulations.
