Employees State Insurance Corporation (ESIC) of India is a significant multifaceted social system designed to provide socio-economic security to workers and their dependents.
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All the establishments registered under ESIC scheme such as factories and other establishments viz. Road Transport, Hotels, Restaurants, Cinemas, Newspaper, Shops, and Educational/Medical Institutions, etc. are required to file Return twice every year i.e. on a half-yearly basis.
DUE DATE OF RETURN FILING:
11th November : for the period of April to September
12th May : for the period of October to March
BENEFITS OF ESI RETURN FILING
• It offers a comprehensive range of benefits including medical, sickness, dependants, disablement, maternity and unemployment to name a few.
•ESIC covers most of the exigencies which are Sickness, Medical Care for the workers, Maternity, Unemployment, Work Injury, Death of Worker, Invalidity and Widowhood.
• Employees of the factories and establishments registered with ESIC, drawing wages upto Rs. 21,000/- a month, are entitled to benefits under the ESI Act.
All establishments having ESI registration should file return on time to avoid penalty. Super CA helps you to file ESI return in no time.
If the registered establishment fails to file ESI return, imprisonment which may extend to two year or fine which may extend to Rs. 5000/ or both shall apply. By subscribing to our plan, an employer can avoid this penalty. Delayed filing of return will result in imposition of penal damages at the rate of 5% to 25% and interest at the rate of 12%, which results in significant loss to the employer. Super CA will assure timely compliance of ESI Laws.
The business entities having a strong compliance are always in the good books of the Government. We at Super CA help you to be a strong law compliance business entity.
ESI compliant status of an establishment aids the business enterprise in Indian as well as overseas business transactions. Super CA will help you in improving relations with your MNC/overseas clients.
The time for filing return is on or before 11th November for the period of April to September and 12th May for the period of October to March.
Since 01.07.19, ESI Contribution rate for employees is 0.75% and for employers is 3.25%. Employees earning average daily wages of Rs 176 or less are exempted from employee share of contribution but employers are required to contribute their own share in respect of these employees.