Labour (Contractual Or Permanent) Out Of ESI

Dear Members,
What best we can do if, Labour (Contractual or Permanent) crossed Rs. 15000/- gross salary (ESI Limit crossed), Than in what way labour avail medical benfits same as under ESIC, without impacting company cost. pls suggest.

In my knowledge no medical insurance will give medical facilities better than what the ESIC can provide with such a low cost as is met in the case of ESI. From the side of employees also this is the case because no insurance company will cover an existing disease or a person aged 65 or 70. Under the ESi there is no condition and dependent of the employee aged even 100 can get medical benefits from ESI Hospital.
For treatment etc, you can take a good medi claim policy even though the same will cost the company higher than ESi contribution. Along with this an accident policy to cover loss of income shall be benefited. Loss of income should be the average wages of the workers and accordingly the premia will increase.
Madhu.T.K

Dear Imsudu,
There is no option with you alike PF to cover or continue to cover any employee beyond the salary threshold limit. You have to compulsorily de-cover such employees once they cross the salary threshold limit at the end of contribution period.
There is no scheme better than ESIS as stated by Madhuji.
There is a proposal to increase the salary threshold limit to Rs. 25000/-.

Most of all cover such employees under Employee Compensation policy. Your whole liability of possible accidents will be covered.
Nothing comes free in life,there is always cost associated with such decisions.