ESIC Return

ESIC Return

Employees' State Insurance (ESI) is self-financing social security and health insurance scheme for the Indian Workers, which is an autonomous corporation governed by Ministry of Labour and Employment. This Fund of ESI is managed by Employee State Insurance Corporation (ESIC) and its rules regulations. All entities registered under ESI registration must file ESI returns which is due half yearly.

The ESI scheme is applicable to all factories and other establishments as defined in the Act with 10 or more persons employed in such establishment and the beneficiaries’ monthly wage does not exceed Rs 21,000 are covered under the scheme.

ESIC Return
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Benefits of ESIC Return

Medical Benefits

Under Section 192 of the Income Tax Act 1961, an employer deducts the TDS while paying the salary to an employee. An employer has to file the Salary TDS returns in Form 24 Q, which needs to be submitted every quarter. The details of the salary that are paid to employees and the TDS deducted from the payment are to be specified in Form 24 Q. In other words, Form 24 Q is the quarterly statement of the payment that is made to the employee and the TDS is deducted that is made by the deductor.

Social Security

The ESI registration scheme was brought out as a social security provided by the government. Through this scheme, social security features such as maternity benefits, sickness allowance and other related benefits are provided.

Easy Processing

Benefits under this system can be availed easily at any hospital or health care centre. All payments which are used under this system can be compensated.

Benefits related to Sickness

Through the ESIC registration, all employees would be offered different form of sickness benefits. These benefits are offered at a rate of 70% of the salary of the employer. This amount would be considered and provided if the sickness extends over three consecutive months or 90 days.

Maternity Benefits

Every organisation taking up this scheme would have to provide maternity benefits such as maternity leave during pregnancy.

Disability Benefits

Disability Benefits are also covered as a part of this scheme. In an unforeseen event in a permanent disability or the death of the employee, this can be claimed by the dependants of the employee.

ESIC Return Filing Procedure

Login into the Profile

Log in Employer Portal using 17 digit Employer digit code. This code is provided to the company when registering under the ESI rules. When the 17 digit registration number is received by the company, the ESI filing process can be easily carried out.

Go to Monthly Contribution

Go to monthly contribution section. Before considering this, the employer or factory must make sure that all the information related to the employees are updated before filing the returns.

Update Details

All the details of the employer contribution will be displayed.

Verify the details. After this enter bank details and go to submit the monthly employee return.

If there are any short payments in respect of employees then complete the dues.

Do Self Certification

Do Self Certification under monthly contribution section, then check mark the declaration and submit the return.