Employee State Insurance Act 1948 (ESI Act) Explained with Calculation & Example Henry Harvin

Employee State Insurance Act 1948 (ESI Act) Explained with Calculation & Example Henry Harvin

Employee Benefits HR management labor laws medical insurance
Free
24 minutes
English

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Description

The Employee State Insurance Act 1948 (ESI Act) is a legislation that provides medical benefits to employees who meet certain criteria. One key aspect of the ESI Act is the concept of Gross Salary, which includes all components of an employee's salary, such as basic pay, DSA, HR, and other elements. If an employee's Gross Salary is less than ₹21,000 per month, they are eligible for Employee State Insurance (ESA) benefits. ESA is a medical benefit provided by the government to employees who earn below this threshold. The act is divided between the central government and state governments, with the latter responsible for providing medical benefits to labor classes. Employees earning less than ₹21,000 per month are eligible for ESA. The benefit covers medical expenses in case of employment injuries, sickness, or disability. In essence, ESA is a social security measure that aims to protect employees from financial distress due to human-related tough situations such as illness, injury, or disability. The ESI Act also includes provisions for bonuses and other benefits for eligible employees. learn more

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Recruiter Payroll Specialist Labor Law Attorney Human Resource Manager HR Generalist Employment Lawyer Compensation Analyst Benefits Administrator

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