EMPLOYEES' STATE INSURANCE CORPORATION (ESIC)

EMPLOYEES' STATE INSURANCE CORPORATION (ESIC)

Registering for the Employees' State Insurance Corporation (ESIC) and ensuring compliance in India involves several steps. ESIC is a social security and health insurance scheme for employees in India. Here's a step-by-step guide:

Step 1: Determine Applicability

Before you proceed with ESIC registration and compliance, you must determine whether your organization is applicable. ESIC is mandatory for entities with 10 or more employees. Once you meet this criterion, proceed with the following steps:

Step 2: Collect Required Documents

Gather the necessary documents and information that you will need during the registration process. This typically includes:

Company's PAN card
Address proof of the company
List of employees
Bank account details
A canceled check with the company's name printed on it
List of partners/directors
Digital signature certificate

Step 3: Online Registration

ESIC registration is done online through the ESIC portal. Follow these steps:

Visit the ESIC portal (https://www.esic.in/ESICInsurance1/ESICInsurancePortal/ESICInsurancePortal).
Click on the "Registration" option.
Select the relevant State in which your business is located.
Fill out the necessary information about your company and employees.
Generate a temporary identification number (TIN).
After submitting the required information, you'll receive a 17-digit registration number.

Step 4: Submit the Application

Once you have generated the 17-digit registration number, you'll need to submit the application with the following documents:

Address proof
PAN card
List of employees
Bank account details
Digital signature certificate

Step 5: ESIC Code

Upon successful submission and verification of your application, you will receive your ESIC code. This code is essential for compliance and must be displayed on the company premises.

Step 6: Monthly Contributions

To remain compliant with ESIC, you must make monthly contributions. You are required to deduct the employee's share and the employer's share from the employee's salary and contribute this amount to ESIC. The contribution rates can change, so it's essential to check the latest rates on the ESIC website.

Step 7: Filing Monthly Returns

As an employer, you need to file monthly ESIC returns. This typically includes the ESIC Challan and the ESIC 6 Monthly Return. Make sure to file these returns regularly.

Step 8: Provide ESIC Benefits

You are required to provide ESIC benefits to your employees, including medical coverage, sickness benefits, maternity benefits, etc. Ensure that your employees are aware of their rights under ESIC.

Step 9: Annual Compliance Audit

Annually, conduct an ESIC compliance audit to ensure that all records, filings, and contributions are accurate and up to date.

Step 10: Compliance with Any Changes

ESIC rules and regulations may change, so it's crucial to stay updated with any modifications and ensure compliance accordingly.

Please note that ESIC registration and compliance may vary depending on the specific circumstances of your organization. It's advisable to consult with a legal or financial expert to guide you through the process and ensure full compliance with current regulations.