debora M (BUSINESS DEVELOPMENT MANAGER) 30 July 2019
ESI scheme is a contributory fund that enables Indian employees to take advantage of self-financing and healthcare insurance fund contributed by the employee and the employer. The scheme is managed by Employees’ State Insurance Corporation which is a self- financing social security and labor welfare organization. It administers and regulates ESI scheme as per the rules mentioned in the Indian ESI Act of 1948.
ESI is one of the most popular integrated need-based social insurance schemes among employees that protects their interest in uncertain events, such as temporary or permanent physical disability, sickness, maternity, injury during employment, and more.
Incentives are not added to the ESIC calculation