ESI Scheme And Mediclaim Policy

Is it necessary to have mediclaim policy if employees are covered under ESI scheme?

I am working with an insurance co. Company has offered medicalim coverage as well as ESI. Is it necessary to have medicalim and ESI simultaneously?

Not necessarily. If you are offering mediclaim to employees who are eligible for ESI (i.e. drawing <Rs.15,000), you can apply for ESI exemption.

Our company offers mediclaim policy to our employees as well as dependents also insured value is Rs.1 lakh in this case please let me know it is mandatory to deduct ESI for below 15,000 rupees salary.
orelse we can apply for esi exemption and what is the procedure for applying this exemption.
Thanks in advance

To get ESI exemption is neither easy nor feasible if your company falls within 18 Kms of any ESI dispensary. You have to satisfy ESI authorities that you will be providing better facilities and compensation than ESI.

Hi All,
Let me try to clear the concept.
ESI is deducted for who earn less than Rs 15000/- per month.
Employee's share 1.75% on Gross &
Employers share 4.75% on gross.
Mediclaim is an benefit given to the employee who earns Rs 15001+.
The company bears the premiun amount.
This amount is no where highlighted in your salary slip.
If the company tries to give both the benefit than its in loss for them.
Eg: Mr A earns 15001/- as gross, then
ESI : 712/- p.m
Preimum : 100/- p.m
In this case, the company bears Rs 1200/- anually on a single employee.
If the company pays for 100 employee then it becomes 1,20,000/- LOSS for the company.
Hence, only a single benefit is given to an employee, also, when you need to claim, you have to submit the original copies to the ESI / Insurance company. So the claim amount will be given by only one payer ( ESI / Insurance Co ).
Hence, an company will never give 2 benefits to an employee as its not useful & which turns into LOSS for company.

Hi All,
I have understood the concept of ESI and Mediclaim .As the deduction percentage or monthly contribution for ESI is 4.75% and 1.75% from the employer and employee,i want to know is there any fixed percentage to calculate mediclaim deduction like ESI?
Regards,
Subrata Deka