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What are the features of ESI?

What are the features of ESI?

Unemployment Allowance equal to 50% of wage for a maximum period of upto Two Years. Medical care for self and family from ESI Hospitals/Dispensaries during the period IP receives unemployment allowance. Vocational Training provided for upgrading skills – Expenditure on fee/travelling allowance borne by ESIC.

Why is ESI important?

The ESI scheme is a self-financed comprehensive social security scheme devised to protect the employees covered under the scheme against financial distress arising out of events of sickness, disablement or death due to employment injuries.

What are the benefits under ESI Act 1948?

Insurable employees under the Act can draw some cash compensation in case they fall sick. This compensation is generally 70% of their wages during the period of sickness for a maximum of 91 days in a year. In order to avail this sickness benefit, a worker must pay his contribution for 78 days out of 6 months.

What are the objectives of ESIC Act state some of its main features?

The Employees State Insurance Act, ESI Act for short, was enacted by the Government of India in 1948. The major objective of the Act was to provide certain benefits to employees in case of sickness, maternity and injury (during employment) and for providing other benefits in relation to the main objectives.

Who will get ESI benefits?

The ESI scheme offers benefits to both the workers and their dependents in case of any unfortunate eventualities at work. Under the ESI Act, employees or workers employed at the above-mentioned categories earning wages up to Rs. 21,000 per month are entitled for this social security scheme..

What ESI means?

Employees’ State Insurance Scheme
The Employees’ State Insurance Scheme is an integrated measure of Social Insurance embodied in the Employees’ State Insurance Act and it is designed to accomplish the task of protecting ’employees’ as defined in the Employees’ State Insurance Act, 1948 against the impact of incidences of sickness, maternity.

What is ESI in India?

The Employee State Insurance (“ESI”) is a contributory fund that has contributions both from the employer and employee and enables Indian employees to take part in a self-financed, healthcare, insurance fund. The ESI is the largest integrated need-based social insurance scheme for employees.

What is the importance of ESI Act How does it help the employees?

The Employee State Insurance Corporation Scheme provides members financial protection in case of an untimely health-related eventuality. The scheme offers medical benefits, disability benefits, maternity benefits, unemployment allowance, etc.

What is the meaning of ESI?

Employees’ State Insurance
Employees’ State Insurance (ESI) Scheme of India is a social security scheme which is encompassed in the Employees’ State Insurance Act, 1948.

What is ESIC Act?

The promulgation of Employees’ State Insurance Act, 1948(ESI Act), by the Parliament was the first major legislation on social Security for workers in independent India. The scheme was inaugurated in Kanpur on 24th February 1952 (ESIC Day) by then Prime Minister Pandit Jawahar Lal Nehru.

Which is the best description of ESI fund?

To which organizations it applies to, for whom (Employees) does it cater to, what are the benefits/welfare that it affords and the procedures around it. ESI is a fund managed by ESI Corporation according to the rules and regulations stipulated in the ESI Act, 1948.

What are the benefits of ESI in India?

There are a number of benefits including cash benefits provided to the employees and their dependents for different health-related contingencies. ESI is an autonomous corporation under the Ministry of Labour Welfare & Employment, Government of India.

What was the intent of the ESI Act?

The intent of the ESI law is to ensure that organizations extend healthcare benefits to the lower wage group employees and their dependents as they are economically vulnerable to health issues. Lower income group employees are defined under the Act as those who earn less than Rs 21,000/- Gross Salary.

Who is considered a family member under ESI?

ESI – Employee and family. Family means all or any of the following relatives of the insured person under ESI: Where the Employee is unmarried and his or her parents are not alive, a minor brother or sister wholly dependent upon the earnings of the Employee would also be considered as a family member.