ESI contribution rate (Employer + Employee) reduced to 4% from 6.5%
With this reduction, the employers’ contribution to the ESI Act has been reduced to 3.25 percent from 4.75 percent and the employees’ contribution has been reduced to 0.75 percent from 1.75 percent. The reduced rates will be effective from July 1.
The healthcare benefits under the ESI scheme will remain the same.
In an establishment covered under ESI, The ESI Act applies to employees drawing a salary of up to ₹21,000. The ESI Act provides for medical, cash, maternity, disability and dependent benefits to the insured persons funded by the contributions made by the employers and the employees.
From India, Thana
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