ESI Full Form

What is the full form of ESI?

Employees' State Insurance is known as ESI. It is a health insurance programme designed to offer medical and financial advantages to Indian workers. Employees State Insurance Corporation(ESIC) oversees its management. The Government of India's Ministry of Labor and Employment oversees ESIC as an independent company. It manages and delivers services to its clients through a vast network of offices spread throughout India. Sh. Raj Kumar served as the organisation’s director general as of July 2017. Its headquarters are located in New Delhi.

History Of ESI

Before ESI was established in February 1952, the Government of India hired economist B.N. Adarkar, who would later become Governor of the Reserve Bank of India, to develop a health insurance programme for industrial workers. His research served as the foundation for the 1948 Employment State Insurance Act, but it was in 1952 that it was really implemented, starting in Delhi and Kanpur.

Benefits Of ESI

An employee would find it very helpful. The insured individual and their family receive several benefits. Benefits primarily fall under two categories:

• Medical advantages

• Cash benefits

These insurance plans cover medical care for the covered employees and their families in the event of sickness, maternity, disability, or death resulting from occupational harm.

Organisations Covered As Per ESI

ESI, or the Employee State Insurance Act, applies to organisations that employ ten or more people. These organisations must register with the Employee State Insurance Corporation (ESIC) and contribute towards the ESI scheme for their employees. The scheme provides various employee benefits, such as medical care, cash benefits during sickness and maternity, and death and disability benefits.

Esi Registration Process And Required Documents For Esi Registration

The ESI registration process typically involves the following steps:

• Obtain a Permanent Account Number (PAN) and a TAN (Tax Deduction and Collection Account Number) for the organisation.

• Apply for ESI registration online through the ESIC portal or by visiting the nearest ESIC office.

• Submit the required documents, which may include the following:

  1. PAN and TAN of the organisation

  2. A copy of the registration certificate or incorporation certificate

  3. A copy of the partnership deed or memorandum of association (for partnership firms or companies)

  4. A copy of the list of employees and their details (such as name, age, sex, and salary)

  5. A copy of the organisation's bank details

  6. A copy of the rental agreement or property papers (if the organisation does not own the premises)

• Once the application is complete, the ESIC will process it and issue an ESI registration number.

• Employers must display the ESI registration number and the office address of the nearest ESI dispensary or hospital at their establishment.

It's worth noting that the above process and documents may vary based on the country and region, so it's best to check with the local ESIC office for specific requirements.