If employee have aarogya sree , health insurance and other insurance is ESI deduction mandatory?
From India, Vijayawada
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From India, Vijayawada
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if your Establishment is covered under ESI Act, Employee Gross Salary is below ceiling of Rs21,000/-PM, Such Employees need to be covered under the Act.
From India, New Delhi
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631From India, New Delhi
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Yes as Srinath has aptly replied, ESI is a statutory and hence it is mandatory then for Health insurance, ESI has wide coverage then any Insurance.
From India, Ahmadabad
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From India, Ahmadabad
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If your organization is under the declared area of ESI coverage, ESI alone will hold good, which is a Central Act mandatory statutory. Those who are out of the coverage limit of ESI, i.e., drawing a gross salary of Rs. 21,000, you may extend such medical coverage as a welfare measure or a morale boost to its employees.
- V. Murali
From India, Madipakkam
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- V. Murali
From India, Madipakkam
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Hi Vijju,
I would like to inform you that, according to my knowledge, if an employee has another insurance, ESIC is not mandatory. Just take out an insurance policy like an employee compensation policy, and the policy must be taken up to Rs 5 lakh.
From India, Gurgaon
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I would like to inform you that, according to my knowledge, if an employee has another insurance, ESIC is not mandatory. Just take out an insurance policy like an employee compensation policy, and the policy must be taken up to Rs 5 lakh.
From India, Gurgaon
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Dear Kiran Bhatnagar It would be wise that you please check the ESI Benefits and compare the same with any other Insurance policy, you will come to know the difference.
From India, Ahmadabad
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From India, Ahmadabad
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Dear Kiran, Please share the notification, where the ESIC is an option if we have a different insurance.
From India, Mumbai
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From India, Mumbai
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Hi Vijju, If Employee covered under Wages Ceiling Rs.21000 means ESIC Is Mandatory, Other Insurances are Not Mandatory. Thanks! Regards, Hariprasath, Corporate HR
From India, Bengaluru
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From India, Bengaluru
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1. Employee, on his own volition, may take any amount of insurance for himself and/or his family. What does the company have to do with it? This question indicates improper intentions.
2. ESI is a statutory benefit extended to employees through the ESI Act. It is mandatory if the employee falls within the coverage category by virtue of his salary.
From India, Thane
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2. ESI is a statutory benefit extended to employees through the ESI Act. It is mandatory if the employee falls within the coverage category by virtue of his salary.
From India, Thane
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Dear Friends, kindly listen to my opinion. My name is Siva. I'm working for a corporate company with a salary under 20,000/-. I have one doubt about the topics. I have insurance coverage of 1-Lakh, and my mother also has coverage of 1-Lakh. If we encounter any problems and need to go to the hospital, the coverage is under 1-Lakh. If we don't have this coverage, we can use the ESI option. However, we already have insurance coverage, so why are they deducting my "money"? Please consider that many people already have low salaries and face numerous problems in society.
Corporate companies and the burden on low-class people
Corporate companies are considered intelligent, but who is bearing the burden of the low-class people's expenses?
For example:
- For a single person: 14,000 x 1.76 / 100 = 245 INR.
- For 100,000 people: 245 x 1,00,000 = 24,500,000 (two crore forty-five lakh).
The issue with health insurance policies
Then why do they offer health insurance policies? Many insurance companies take advantage of innocent people without providing proper services.
Some people only face injuries, illnesses, and unexpected situations. For instance, in an office with 100 employees, if 50 people use the 1 Lakh insurance policy for medicines and each head costs 25,000, the total is 12,50,000, leaving a balance of 8,75,000. Where does this excess money go? People should realize this issue sooner rather than later.
This problem is not limited to a single company; the report of March 2018 shows that there are 13,94,819 companies in India facing similar challenges.
Conclusion
In conclusion, I urge you to avoid deducting ESI funds from the middle and lower class. If they have insurance coverage, please do not devalue their benefits.
As a Common Man,
Siva
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From India
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Corporate companies and the burden on low-class people
Corporate companies are considered intelligent, but who is bearing the burden of the low-class people's expenses?
For example:
- For a single person: 14,000 x 1.76 / 100 = 245 INR.
- For 100,000 people: 245 x 1,00,000 = 24,500,000 (two crore forty-five lakh).
The issue with health insurance policies
Then why do they offer health insurance policies? Many insurance companies take advantage of innocent people without providing proper services.
Some people only face injuries, illnesses, and unexpected situations. For instance, in an office with 100 employees, if 50 people use the 1 Lakh insurance policy for medicines and each head costs 25,000, the total is 12,50,000, leaving a balance of 8,75,000. Where does this excess money go? People should realize this issue sooner rather than later.
This problem is not limited to a single company; the report of March 2018 shows that there are 13,94,819 companies in India facing similar challenges.
Conclusion
In conclusion, I urge you to avoid deducting ESI funds from the middle and lower class. If they have insurance coverage, please do not devalue their benefits.
As a Common Man,
Siva
[Phone Number Removed For Privacy-Reasons]
Email: [Email Removed For Privacy Reasons]
From India
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Understanding ESI Obligations
Please have a clear understanding of ESI. Once ESI is applicable to your establishment, there is NO exemption under any conditions. It is NOT an option for the employer or employee. Having health or accident insurance is NO excuse. Coverage under ESI is a statutory obligation like EPF, aimed at social security coupled with healthcare and management in accidents and death, all bundled in one, at a throwaway cost which is partly met by the employer through contribution.
Can you tell which health insurance scheme/company pays towards 'salary' during an employee's leave? ESI guarantees reasonable treatment at no additional cost to the employee, compensates for the sustained accident, irrespective of 'in the course of employment' or outside, and ensures payment and leave during maternity. Other insurance schemes, both health and accident/life, are NOT comparable with ESI; above all, there is no option. Operational difficulties cannot undermine the usability of ESI schemes. Everyone, please read the ESI Act fully before advocating other schemes.
From India, Bangalore
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Please have a clear understanding of ESI. Once ESI is applicable to your establishment, there is NO exemption under any conditions. It is NOT an option for the employer or employee. Having health or accident insurance is NO excuse. Coverage under ESI is a statutory obligation like EPF, aimed at social security coupled with healthcare and management in accidents and death, all bundled in one, at a throwaway cost which is partly met by the employer through contribution.
Can you tell which health insurance scheme/company pays towards 'salary' during an employee's leave? ESI guarantees reasonable treatment at no additional cost to the employee, compensates for the sustained accident, irrespective of 'in the course of employment' or outside, and ensures payment and leave during maternity. Other insurance schemes, both health and accident/life, are NOT comparable with ESI; above all, there is no option. Operational difficulties cannot undermine the usability of ESI schemes. Everyone, please read the ESI Act fully before advocating other schemes.
From India, Bangalore
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