Employee's State Insurance(ESI) is a self-financing social security and health insurance scheme for Indian workers. ESI Registration is mandatory for employers having 10 or more employee. For all employees earning Rs.15,000 or less per month as wages, the employer must contribute 4.75% and employee must contribute 1.75% towards ESI. The ESI fund is managed by the ESI Corporation (ESI) according to rules and regulations stipulated therein the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. IndiaFilings can help you obtain ESI registration for your business.
All employers having 10 ore more employees are required to be registered with Employee State Insurance (ESI) Corporation. Those entities having ESI Registration must then file ESI returns. ESI returns are due half-yearly. IndiaFilings can help file ESI returns for your business. Our ESI experts can also help you computer ESI payments and maintain ESI regulation compliance for your businesss. Use ReminDue to know more about your due dates for ESI return and ESI payment due date.
ESI contribution has to be deducted every month from the employee and it has to be contributed to the department. So ESI payment due date is monthly, on or before 15th of next month. It is similar to PF in this respect.
ESI return is done on a half-yearly basis and the due dates are fixed as 11th of November and May.
An employer who does not pay the contribution within the time limit shall be liable to pay a simple interest at the rate of 12% per annum for each day of the default or delay in payment of contribution.