ESIC (Employees' State Insurance Corporation) Returns
The Employees’ State Insurance Corporation (ESIC) is a social security scheme that provides medical, financial, and social benefits to employees and their families. To maintain continuous coverage and compliance, employers are required to file ESIC returns regularly, ensuring that employee contributions and entitlements are accurately recorded.
Employers must deposit ESIC contributions monthly and file the ESIC return twice a year, ensuring employees can access benefits like medical care, maternity leave, and financial support in case of accidents, sickness, or unemployment.
ESIC Contribution Rates
- Employee Contribution: 0.75% of gross monthly wages.
- Employer Contribution: 3.25% of gross monthly wages.
These contributions must be calculated based on the employee’s total monthly wages, and the employer must deposit them through the ESIC online portal.