Dear Tejharsh,
#Under Section 2(12) the Act is applicable to non-seasonal factories employing 10 or more persons.
#Under Section 1(5) of the Act, the Scheme has been extended to shops, hotels, restaurants, cinemas including preview theatres, road-motor transport undertakings and newspaper establishments employing 20* or more persons.
#Further under section 1(5) of the Act, the Scheme has been extended to Private Medical and Educational institutions employing 20* or more persons in certain States/UTs.
So, if any of the above point is applicable to your organization, then you must take coverage under the ESI Act and comply as per the Act.
If, the Act is applicable and your organization do not comply with it, then under section 39:
[5(a)] : If any contribution payable under this Act is not paid by the principal employer on the date on which such contribution has become due, he shall be liable to pay simple interest at
the rate of twelve per cent. per annum or at such higher rate as may be specified in the regulations till the date of its actual payment :
Provided that higher interest specified in the regulations shall not exceed the lending rate of interest charged by any scheduled bank.
[5(b)] : Any interest recoverable under clause (a) may be recovered as an arrear of land revenue or under section 45-C to section 45-I
Hope this will help you.