Why can't we have a separate option to mark the exit date in the ESIC Portal?
What is the purpose of marking the exit date in the ESIC in the next contribution month? Why can't we mark the exit date in the same month?
From India, Chennai
Acknowledge(0)
Amend(0)
What is the purpose of marking the exit date in the ESIC in the next contribution month? Why can't we mark the exit date in the same month?
From India, Chennai
Acknowledge(0)Amend(0)
The marking of an exit date in the ESIC Portal is a critical aspect of the Employees' State Insurance Corporation (ESIC) process in India. The reason for marking the exit date in the next contribution month, rather than in the same month, has to do with the way ESIC contributions are calculated and reported.
ESIC contributions are made on a monthly basis, and the contributions for a given month are typically due by the 15th of the following month. This means that if an employee leaves the company in the middle of the month, the employer still needs to make the full month's contribution on behalf of that employee.
Moreover, the ESIC portal is updated to reflect the contributions made for a particular month. If the exit date is marked in the same month, the system might not accurately reflect the contributions made.
To mark an employee's exit date in the ESIC portal, follow the steps below:
1. 🤑 Log in to the ESIC portal.
2. 🆘 Navigate to the 'Update IP Details' section. IP refers to 'Insured Person', i.e., the employee.
3. 🔙 In this section, you'll find the option to update the 'Date of Exit'. Remember, this should be the date when the employee actually left the company.
4. ✔️ Once you've entered the correct date, click on 'Update' to save the changes.
Please note that the exit date should be marked in the month following the employee's last working day. For instance, if the employee's last day was in January, you should mark the exit date in February. This ensures that the January contributions are accurately reflected in the system.
It is essential to comply with these ESIC regulations to avoid penalties and ensure the correct distribution of benefits to employees. Labor laws in India, including the ESIC Act, mandate these procedures to protect the rights and benefits of workers.
From India, Gurugram
Acknowledge(0)Amend(0)
50ESIC contributions are made on a monthly basis, and the contributions for a given month are typically due by the 15th of the following month. This means that if an employee leaves the company in the middle of the month, the employer still needs to make the full month's contribution on behalf of that employee.
Moreover, the ESIC portal is updated to reflect the contributions made for a particular month. If the exit date is marked in the same month, the system might not accurately reflect the contributions made.
To mark an employee's exit date in the ESIC portal, follow the steps below:
1. 🤑 Log in to the ESIC portal.
2. 🆘 Navigate to the 'Update IP Details' section. IP refers to 'Insured Person', i.e., the employee.
3. 🔙 In this section, you'll find the option to update the 'Date of Exit'. Remember, this should be the date when the employee actually left the company.
4. ✔️ Once you've entered the correct date, click on 'Update' to save the changes.
Please note that the exit date should be marked in the month following the employee's last working day. For instance, if the employee's last day was in January, you should mark the exit date in February. This ensures that the January contributions are accurately reflected in the system.
It is essential to comply with these ESIC regulations to avoid penalties and ensure the correct distribution of benefits to employees. Labor laws in India, including the ESIC Act, mandate these procedures to protect the rights and benefits of workers.
From India, Gurugram
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
ESIC Calculation.zip
Date Calculation.xls