Employees State Insurance Corporation
Employees State Insurance Corporation (ESIC) is a corporate body which came into existence after the passing of ESI Act by the Indian parliament in 1948. The function of the Employees State Insurance Corporation (ESIC) is to offer specific benefits to the employees in instances of maternity, employment injury and sickness. Employees' State Insurance Corporation (ESIC) administers the Employees' State Insurance Scheme. Employees with Rs.10,000 gross salary come under the purview of ESIC Scheme. 1.75 % of the total gross salary is deducted from Employees' remuneration, and 4.75 % is contributed by the employer.
History of Employees State Insurance Corporation
A need of an insurance scheme protecting the interest of the employees in contingencies like maternity, physical disablement, sickness and death caused by employment injury led to the announcement of the ESI Act 1948. Following the announcement of the ESI Act, the Government of India established the ESI Corporation (ESIC) to govern the scheme. The Employees' State Insurance Scheme was firs enforced in at Delhi and Kanpur on 24th February 1952.
More about Employees State Insurance Corporation
The headquarters of Employees State Insurance Corporation is located in New Delhi. The Corporation has 12 Sub-regional and 23 Regional offices scattered in different town and cities of India.
Employees State Insurance Corporation: Management
The director General of Employees State Insurance Corporation (ESIC) is the Chief Executive of the organization. He also serves as the ex-officio member of ESIC's Standing Committee. The Medical care under the Employees' State Insurance Scheme is managed by the State Governments, who enjoy the statutory responsibility in this respect, except in Noida and Delhi. Other than this, ESI Hospitals in Kolkata, Nagda and Chennai are administered directly by the ESIC.
Employees State Insurance Corporation (ESIC) Benefits
Some of the major benefits of ESIC include:
- Disablement Benefit
- Medical Benefit
- Funeral Expenses
- Maternity Benefit
- Dependants' Benefit
- Sickness Benefit
Apart from the aforementioned ones, ESIC offers other benefits as well. Other benefits offered by ESIC are as follows:
- Vocational Rehabilitation
- Rehabilitation allowance
- Unemployment Allowance