Employment under Government ESI scheme up by 8.1% in March ’23
Contents News/Article Date: 16th May 2023
Relating to which Act: The Employees’ State Insurance (ESI) Act, 1948
Penalty under the Act: Section 84 prohibits employees from making false/wrong statements for availing benefits under the Act. Any person who illegally avails benefits not meant for him using false information is punishable. The punishment for this is imprisonment up to 6 months and/or fine up to Rs. 2,000.
Section 85: Penalty for non-compliance with provisions
Section 85 (a) to (g) basically contains compliances which employers and managers have to carry out. Consequently, failure to do so can make them liable for punishment as Section prescribes. Punishment may be in the form of either imprisonment or fine or both.
Section 85(a): Penalty for failure to pay a contribution
All employers under the Act have to periodically pay some money to the ESI Corporation for the benefit of employees. Non-payment of this contribution is a serious offense because it directly affects insurable employees.
Applicable to which State: All the States and Establishments covered by the ESI Act
Type: ET Bureau news report
Pertains to: All ESIC members
Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
Karma Global does excellent work on providing ESI Services both to establishments as well as Insured Employees and in this respect, it will inform all its clients and insured employees about the many announcements that the Government has made in terms of expansion of ESI Scheme, so as to make it available in the remotest of places viz. 744 districts and also to make health facilities and medical colleges in progressive districts of our country further expanding post graduate medical seats.
And in this instance: Formal job creation under ESIC saw a month-on-month growth of 8.1% in March 2023, with 1.73 million new formal workers being added compared to the 1.6 million added in February, according to a report from the Ministry of Labour and Employment.
Provisional payroll data from ESIC indicates that around 19,000 new establishments were registered and brought under the social security umbrella of the Employees’ State Insurance Corporation in March 2023, expanding the coverage of the scheme. Of the total formal sector workforce registered under ESIC, employees up to 25 years old make up 48%, which amounts to 0.82 million out of the total 1.73 million formal workers added in May.
In March 2023, 0.33 million female employees and 41 transgender employees were registered under the ESI scheme, highlighting the commitment of ESIC to provide benefits to every section of society.
Subject: Employment under Government ESI scheme up by 8.1% in March ’23
Appended is the complete news item
Employment under Government ESI scheme up by 8.1% in March ’23
The government, under the Employees’ State Insurance Scheme (ESIC), added 1.73 million new employees in March
Under the scheme, 1.6 million new works were added in February
Of the total formal sector workforce registered under ESIC, employees up to 25 years old make up 48%
In March 2023, 0.33 million female employees and 41 transgender employees were registered under the ESI scheme
Around 19,000 new establishments were registered and brought under the social security umbrella of the Employees’ State Insurance Corporation in March
Formal job creation under ESIC saw a month-on-month growth of 8.1% in March 2023, with 1.73 million new formal workers being added compared to the 1.6 million added in February, according to a report from the Ministry of Labour and Employment.
Provisional payroll data from ESIC indicates that around 19,000 new establishments were registered and brought under the social security umbrella of the Employees’ State Insurance Corporation in March 2023, expanding the coverage of the scheme.
Of the total formal sector workforce registered under ESIC, employees up to 25 years old make up 48%, which amounts to 0.82 million out of the total 1.73 million formal workers added in May.
In March 2023, 0.33 million female employees and 41 transgender employees were registered under the ESI scheme, highlighting the commitment of ESIC to provide benefits to every section of society.
As of January 2023, the scheme had 33.9 million insured persons and 131.6 million beneficiaries.
The Employees’ State Insurance Corporation is one of the two primary statutory social security organizations under the Ministry of Labour and Employment, the other being the Employees’ Provident Fund Organization. The ESIC manages the fund in accordance with the rules and regulations outlined in the ESI Act of 1948.
Under the scheme, employees earning up to INR 21,000 per month contribute 0.75% of their wages, while the employer contributes 3.25%, making a total contribution of 4%. These funds are used to provide medical and cash benefits to employees and their families.
Employees registered under the scheme are entitled to medical treatment for themselves and their dependents, unemployment cash benefits under certain circumstances, and maternity benefits for women employees. In the event of employment-related disablement or death, the scheme provides disablement benefits and family pensions, respectively