ESI Exemption: Can Employees Opt Out Like PF, and What Form Is Needed?

Is it possible for an employee to get an exemption from ESI like PF? If so, what form should be submitted for ESI exemption?

Kindly refer to Section 88 in The Employees' State Insurance Act, 1948
88. Exemption of persons or class of persons.—The appropriate Government may, by notification in the Official Gazette and subject to such conditions as it may deem fit to impose, exempt any persons or class of persons employed in any factory or estab­lishment or class of factories or establishments to which this Act applies from the operation of the Act.

Dear Hari Prasad,

Employees do not have the option to exempt from the ESIC scheme until their salary exceeds the desired ceiling limit.