Hi Friends,
We are small design engineering Company.
Have a query, ESIC is mandatory for people whose salary (wages) is upto Rs. 15,000/-. So we as a company have enrolled everyone in the Group medical insurance from United India Insurance. So we end up paying for the ESIC employee contribution 1.75% and employer 4.25% thats about 6% and also the group medical insurance.
Can we do away with the ESIC? Is there anyway we can opt out of ESIC?
We are small design engineering Company.
Have a query, ESIC is mandatory for people whose salary (wages) is upto Rs. 15,000/-. So we as a company have enrolled everyone in the Group medical insurance from United India Insurance. So we end up paying for the ESIC employee contribution 1.75% and employer 4.25% thats about 6% and also the group medical insurance.
Can we do away with the ESIC? Is there anyway we can opt out of ESIC?