ESI enhances benefits for employees
The Employees' State Insurance Corporation (ESIC) has enhanced various benefits available to employees covered under the social security scheme.
By PTI |
NEW DELHI: The Employees' State Insurance Corporation (ESIC) has enhanced various benefits available to employees covered under the social security scheme.
The daily rate of sickness benefit has been increased to about 60 per cent of the wages, disablement and dependent benefit to nearly 75 per cent and funeral expenses to Rs 3,000, the ESIC said in a public notice.
The enhanced rates will benefit about 35.4 million beneficiaries of the Act as on March 31, 2007. Nearly all the states in the country except some north-eastern states are covered under the act.
The new rates of benefit will be effective from December 1, 2007, the ESI said.
The scheme is applicable to all establishments employing more than 20 persons and having a wage limit of Rs 10,000 as on October 1, 2006.
Earlier, the ESIC used to provide sickness benefit to the employees at a rate of about 50 per cent of the wages, while the rate of disablement benefit was about 70 per cent.
Similarly, the dependent benefit provided to the family members of employees has been raised from 70 to 75 per cent.
Also, to make up for inflation, the corporation has increased the funeral expense from Rs 2,500 to Rs 3,000.
However, the ESIC has also said, "the ESIC has increased the following benefits without increasing the contribution rates".
The daily rate of sickness benefit has been increased to about 60 per cent of the wages, disablement and dependent benefit to nearly 75 per cent and funeral expenses to Rs 3,000, the ESIC said in a public notice.
The enhanced rates will benefit about 35.4 million beneficiaries of the Act as on March 31, 2007. Nearly all the states in the country except some north-eastern states are covered under the act.
The new rates of benefit will be effective from December 1, 2007, the ESI said.
The scheme is applicable to all establishments employing more than 20 persons and having a wage limit of Rs 10,000 as on October 1, 2006.
Earlier, the ESIC used to provide sickness benefit to the employees at a rate of about 50 per cent of the wages, while the rate of disablement benefit was about 70 per cent.
Similarly, the dependent benefit provided to the family members of employees has been raised from 70 to 75 per cent.
Also, to make up for inflation, the corporation has increased the funeral expense from Rs 2,500 to Rs 3,000.
However, the ESIC has also said, "the ESIC has increased the following benefits without increasing the contribution rates".
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