Author: lplawprofessionals

LP, ESI, PF Consultant and Payroll Processing Company in Delhi and NCR, discovered the easiest way of dealing with the problems of maintenance of statutory records under various labour statutes i.e. Employees Provident Fund & Miscellaneous Provision Acts, 1952, (EPF Act) Employees State Insurance Act (ESI Act) , Factories Act, 1948, Payment of wages under Minimum Wages Act, Bonus Act and Delhi Labour Welfare Fund Rules 1997 and various other acts. LP has adequate proficiency in providing consultancy services under ESI Act, EPF Act, Payroll outsourcing, Income Tax (TDS), Salary processing in and around Delhi and Maintenance of statutory records including applications; follow-up measures an eventual maintenance with all its attending problem.

Employee’s State Insurance (ESIC) Act & The Scheme, 1948

January 1, 2017

Wage Ceiling For ESI Coverage Increased From INR 15,000 To INR 21,000 w.e.f 01st January,2017

Starting 1 January 2017, employers will need to make contributions under the ESI Act for a larger pool of employees since the wage ceiling for applicability of this statute has been increased from INR 15,000 to INR 21,000.

Employees’ State Insurance Act, 1948 (ESI Act) is a social security legislation aimed at providing benefits to employees in case of sickness, maternity, employment injury and certain other related matters. Under this self-financing health insurance scheme, funds are primarily built out of contribution from employers and employees. On 22 December 2016, the Ministry of Labour and Employment issued a notification increasing the wage limit for coverage under the ESI Act to INR 21,000. This change will come into effect on 1 January 2017. The wage ceiling was last raised in May 2010, where the wage limit was increased from INR 10,000 to INR 15,000. With the current increase to INR 21,000, the wage limit for ESI Act has been brought in line with the wage limit under the Payment of Bonus Act, 1965 which was revised earlier this year. Continue reading “Employee’s State Insurance (ESIC) Act & The Scheme, 1948”