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ESIC RETURN FILING
Employee State Insurance is the full form of ESI and Employee State Insurance Corporation is the full form of ESIC. Basically, ESI is administered and governed by an autonomous self-financed social security labor organization named ESIC. It is one of the most popular schemes for employees which has been employed in various sectors in different organizations in the country. The ESIC functions under the guidance of the labor ministry, which is under the Govt of India. Employees who have registered under the ESIC Registration scheme can opt for medical benefits or monetary benefits provided they are employed in an organization that has more than ten employees. The employees are provided and assigned with a 17 digit unique identification number after they have completed the ESI Registration.
ESI return filing
To file ESI returns online, follow the process below:
1) Login into the ESI portal(www.esic.nic.in) using the credentials that you get while registration.
2) To file the return, make sure that all the employee details are up to date and then file the return.
3) Then fill in the bank details and submit them to file the returns.
4) Then move to ‘List of Actions’ tab and click on ‘Generate Challan’.
5) Print the downloaded challan and keep it for future reference and inspections.
ESI filing due dates: The half-yearly return of ESIC for the period April to September is due by 12 November, and October to March is due by 12 May.
Penalty for not paying or delay in ESI return
Non-payments of ESI returns, delayed payments of ESI returns, or falsifying payments under ESI Act may attract imprisonment for up to 2 years and fine up to Rs 5,000. You will be accounted for under 'Criminal Breach of Trust'.
The Consequences of Delayed Payment
An employer who fails to pay the contribution within the time-limit specified would be liable to pay simple interest with a rate of 12% PA in respect of each day of delay or default in payment of contribution.
Advantages
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Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year
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Medical Benefits for an employee and his family members
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Women who are pregnant will be given maternity Benefit( paid leaves )
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If an employee dies while on work – then 90% of the salary would be given to his dependents i.e family every month.
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An amount of Rs.10,000/- is payable to the dependents or to the person who performs last rites from day one of entering insurable employment.
Disadvantages
Non-payments of ESI returns, delayed payments of ESI returns, or falsifying payments under ESI Act may attract imprisonment of up to 2 years and fine up to Rs 5,000. You will be accounted for under 'Criminal Breach of Trust'.
An employer who fails to pay the contribution within the time-limit specified would be liable to pay simple interest with a rate of 12% PA in respect of each day of delay or default in payment of contribution.
FAQs Section
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Yes, it is mandatory for every employer to register under ESI, who comes under the ESI act to register their unit/Factory/ Establishment.
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No, you cant transfer the benefits of the insured employee.
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ESI code number is the 17-digit unique identification number that is allotted to every registered unit, factory, establishment.
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An employer who fails to pay the contribution within the time-limit specified would be liable to pay simple interest with a rate of 12% PA in respect of each day of delay or default in payment of contribution.
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The registration of employees is needed to identify the employee and to provide them with the benefits under the Act.
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