A Note On The Recent Changes In ESIC Amendments

ESIC is the Employees State Insurance Corporation which offers healthcare benefits for employees. It is an organization managed by the Ministry Of Labour and Employment of the Government of India. The wage limit of employees is increased in the recent changes in ESIC amendments. Thus based on the recent changes in ESIC amendments nearly 50 lakh workers would be benefited by it. It offers affordable healthcare services to employees and their family members. You can go for esi registration online so that the registration process is simple. The ESIC amendments have issued changes for all employers, employees, HR and compliance managers.

The following are the changes in the ESIC amendments made by the Ministry of Labour and Employment.

For Companies Not Registered With ESIC

This amendment has made changes for companies that are not registered under the ESIC Act. Thus companies that are not registered under ESIC whose strength of employees is more than 20 are eligible for ESIC registration. The monthly salary of each employee should be more than Rs. 21,000 and this is the primary requirement for registering with ESIC.

For Companies Registered With ESIC

Based on the recent changes made in the ESIC amendments, companies that are registered with ESIC should work on the CTC of the employees when their monthly salary is under 21,000.

For HR and Compliance Managers

It is the responsibility of the HR and compliance managers to identify their employees whose salary is up to Rs.21, 000. The CTC of their employees should be restructured based on the changes in the ESIC amendments. It is evident that with the newly calculated CTC the take-home salary of the employees would become less. The change in the monthly income of the employees based on the recent ESIC amendment should be informed to them.

For Employees

Based on the recent ESIC amendment nearly 50 lakh employees and their families would be benefited. Though their take-home salary is reduced, they can enjoy extended benefits. Employees can experience medical care for themselves and their family.

The above are the recent changes made in the ESIC amendments.

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