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The Complete Guide to ESIC Scheme and How it Can Benefit You

The Complete Guide to ESIC Scheme and How it Can Benefit You

ESIC is a simple and straightforward scheme that can be availed by any individual or employee. The ESIC scheme was introduced in India by the Ministry of Labour and Employment. The ESIC Scheme is an initiative to provide social security cover to the unorganized sector workers. It is a contributory, non-contributory, and voluntary insurance scheme which provides coverage for sickness, maternity benefits, unemployment benefits, etc.

It is mandatory for all establishments employing 20 or more workers to register with the ESIC Scheme and contribute towards it. All eligible employees are also required to be registered with the ESIC Scheme for their own benefit.

What is ESIC Scheme?

ESIC stands for Employees’ State Insurance Corporation. It is also called as EPFO, which is the acronym for Employees’ Provident Fund Organisation. ESIC Scheme was established in 1948 as a social security measure to provide financial protection to the employees of private and public sector enterprises also provides the employment through esic recruitment across the India

The scheme provides coverage to all employees in India who are members of the EPFO, regardless of their age or type of employment. The benefits are provided by ESIC through insurance companies with whom they have appointed contracts.

What is the Eligibility Criteria for ESIC Scheme?

The Eligibility Criteria for ESIC Scheme is:

A person who is insured in an approved industry

A person who is eligible to be insured in an approved industry and has completed 12 months of continuous service in the same industry

A person who is eligible to be insured in an approved industry, is not eligible to receive benefits under any other scheme and has at least 12 months of continuous service in the same industry

The eligibility criteria for ESIC Scheme is quite simple. You need to be a resident of India and be between 18-65 years of age.

The scheme is available to all Indians who are between the age of 18-65 years and have lived in India for at least 182 days in the year preceding the date of application.

How to Apply for ESIC Scheme Online?

The ESIC scheme is a comprehensive social security scheme for the workers in the unorganized sector. The ESIC scheme is applicable to all workers in the unorganized sector, irrespective of their age, gender and occupation.

The ESIC Scheme provides for medical care, maternity benefits, unemployment benefits, and pension to all workers in the unorganized sector. The ESIC scheme also provides for vocational training and rehabilitation of disabled persons in the unorganized sector.

The various schemes under ESIC are:

– Medical Benefits Scheme

– Maternity Benefits Scheme

– Unemployment Benefits Scheme

– Old Age Pension Scheme

How Much Do You Get from ESIC Scheme?

Every employee of the company will get a monthly amount from the ESIC scheme. The amount is calculated based on the number of years you have been with the company and your age.

The ESIC scheme is a type of social security that every Indian citizen gets in order to provide retirement benefits and other benefits when they retire.

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