ESI Contribution through manual Challan in ESI Account No. I at the regional level became redundant – Reconciliation and leaving a Minimum Balance
It is a known fact that the old system for collection of ESI Contribution through manual Challan in ESI Account No. I at the regional level became redundant after the introduction of the Centralised challan collection system, wherein all the receipts, duly supported by e-challan. are credited directly to “ES[ Account No. I -Central” maintained at Hqrs.
Before the end of each financial year, instructions were issued for reconciliation of these accounts and transfer of the unutilized amount in ESI Account No.1-Central by leaving a minimum balance in such accounts.
A List of such bank accounts along with reported balances by the concerned field office is enclosed as Annexure-I.
Many references have been received from the units for the closure of the said account because these accounts become inoperative/dormant. Considering the above facts and non-utilization of the said account, the Competent Authority has approved the closing of ESI Account No.1 and other parking accounts of respective units after completion of the reconciliation process and reported the closure of such bank accounts after remitting the balance amount into ESI Account No. 1’Central.
For greater details, attached is the notification