ESI Stands for Employees’ State Insurance. The Employees’ State Insurance - ESI is embodied in the embodied in the Employees State Insurance Act. The ESI is established to protect the employees as per the Employees State Insurance Act, 1948. It basically deals with the self- financing social security and health insurance scheme for Indian workers. ESIC registration covers against the against the impact of incidences of sickness, maternity, disablement and death due to employment injury and to provide medical care to insured persons and their families. The Scheme has been extended to shops, hotels, restaurants, cinemas including preview theaters, road-motor transport undertakings and newspaper establishments employing 10 or more persons (in some states it is 20). The Scheme has been extended to Private Medical and Educational institutions employing 10 or more persons in certain States and Union Territories. At Unilex Consultants we provide you a hassle free ESIC registration process which would be dealt by our professionals within a time frame of 3-4 working days subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
All of the medical scenarios are covered in the ESIC policy with the treatment carried over with proper modern techniques and equipment, it would cover anything between falling sick to maternity or accidents.
Sickness Benefit represents periodical cash payments made to an IP during the period of certified sickness occurring in a benefit period when IP requires medical treatment. The amount that is given is taken from the money that is contributed for the welfare insurance on monthly basis.
The benefit is payable in cash to an insured woman for confinement / miscarriage or sickness arising out of pregnancy / confinement or premature birth of child or miscarriage. Thus covering the medical needs pertaining to women.
The Act provides for cash payment, besides free medical treatment, in the event of temporary or permanent disablement as a result of employment injury as well as occupational diseases. This would cover both for workplace conditions or personal conditions causing the disablement.
In case of the person who has been entitled for the insurance passes away, the person who relied on them would be reaping the benefits for support. Pension at the rate of 40% more than the Standard Benefit Rate will be paid periodically to widow.
Funeral benefit is a cash payment payable on the death of an insured person towards the expenses on his/her funeral, the amount not exceeding Rs.2,500.
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