Employer and Employee contribution reduced in ESIC


The Ministry of Labour and Employment has issued a notification where it has reduced the mandatory employer's and employee contribution. 

Here's the revised contribution,


Contribution

Previous Rate

Revised Rates

Employees

4.75%

4%

Employer’s

1.75%

1%


The revised rates shall come into force from the date of final publication of the notification, which is 15th February 2019.

Any objection or suggestion in respect of this change can be sent to the following address- Shri S.K. Singh, Under Secretary, Ministry of Labour and Employment, Shram Shakti Bhawan, Rafi Marg, New Delhi- 110001

The notification issued has been mentioned below :

MINISTRY OF LABOUR AND EMPLOYMENT

NOTIFICATION
New Delhi, the 15th February, 2019

G.S.R. 121(E). - The following draft of certain rules further to amend the Employees' State Insurance (Central) Rules, 1950 which the Central Government, after consultation with the Employees' State Insurance Corporation, proposes to make in exercise of the powers conferred by Section 95 of the Employees' State Insurance Act, 1948 (34 of 1948), is hereby published as required by sub-section (1) of the said Section, for information of all persons likely to be affected thereby and notice is hereby given that the said draft rules will be taken into consideration after thirty days from the date of publication in the Official Gazette.

Any objection or suggestion, which may be received from any person in respect of the said draft rules within the period specified above, will be considered by the Central Government.

The objections and suggestions may be addressed to Shri S. K Singh, Under Secretary, Ministry of Labour and Employment, Shram Shakti Bhawan, Rafi Marg, New Delhi-110001.

DRAFT RULES

1. (i) These rules may be called the Employees' State Insurance (Central) (Amendment) Rules, 2019.
(ii) They shall come into force on the date of its final publication in the Official Gazette.

2. In Rule 51 of the Employees' State Insurance (Central) Rules, 1950, the following amendment shall be made :

(a) In Rule 51(a) for the words “equal to four and three fourth percent of the wages”, the words “equal to four percent of the wages” shall be substituted.

(b) In Rule 51(b), for the words “equal to one and three fourth percent of the wages”, the words “equal to one percent of the wages” shall be substituted.

[F. No. S-38012/01/2016-SS-I]
MANISH GUPTA, Jt. Secy.

Note: The principal rules were published in the Gazette of India, Part II, Section 3, Sub-section (i) vide notification number S.R.O. 212 dated the 22nd June, 1950.


Posted :
on 20 February 2019
 
Published in Corporate Law
Source : ,
Views : 1226






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