ESIC Full Form
ESIC stands for Employees’ State Insurance Corporation. It is an autonomous body under the Ministry of Labour and Employment, Government of India.
Key Features of ESIC:
- Purpose:
Provides social security and health insurance to employees in India.
Coverage:
- Applicable to factories and establishments with 10 or more employees.
Covers a wide range of workers including those in the organized sector.
Benefits Offered:
- Medical Benefits: Comprehensive medical care for employees and their dependents.
- Sickness Benefits: Cash benefits for insured persons during sickness.
- Maternity Benefits: Financial assistance for expectant mothers.
Disability and Dependents’ Benefits: Compensation in case of disability or death of the insured.
Funding:
Funded through contributions made by employers and employees.
Administration:
- Managed through various regional and local offices across India to ensure accessibility.
Importance of ESIC:
- Social Security:
Provides a safety net for workers against various risks associated with employment.
Health Care:
Ensures that workers receive necessary medical treatment without financial burden.
Legal Framework:
- Governed by the Employees’ State Insurance Act, 1948, which outlines the rights and responsibilities of both employers and employees.
For more information, you can visit the official ESIC website.