Explore the Benefits of Employees’ State Insurance Scheme (ESIS)
People who are under employment should be knowing about ESI and its benefits. The Employees’ State Insurance Scheme (ESIS) is a self-financing social security scheme that helps Indian workers in case of an emergency. But then, do you know how it works? Let us read through the basics and benefits of the ESI Scheme. ESI Scheme - Simplified The Employees’ State Insurance (ESI) scheme is a social security and health insurance scheme for Indian workers. The ESI Act 1948 protects the employees against the events of sickness, maternity, disablement, and death due to employment injury and provides medical benefit to the insured employees and their families. The scheme provides financial assistance to compensate the loss of wages for non-working days due to sickness, maternity, and employment injury. The ESI funds are maintained by the employer and employee contributions. There is a monthly fixed contribution of 1.75% from the employee and 4.75% from the employer. The establis...