Are you willing to ensure a better future for your employees? Are you seeking the right information about benefits and the registration process? Read this informative article to ensure a bright future for your organisation’s employees.

ESI stands for Employees State Insurance whereas EPF stands for Employee Provident Fund. These are the two compulsory provisions that are regarded as government schemes introduced for the bright and better future of working employees. If you are running a business or hoping to host the business, then you should register yourself for PF and ESI. Make an appointment with ESI PF Consultant to know more about the benefits of insurance schemes.

Employee Provident Fund

The employee provident fund and miscellaneous provisions act was passed in 1952 by the Indian government and under this government act, the provident fund scheme was introduced. Under this scheme, a small amount of your salary is deducted and is being contributed to the EPF account as per section 6 of the act, and it is further linked with the Employee State Insurance Scheme. Once the employee registers for the EPF scheme, they can easily access it through EPF online portal. 

Benefits of Employee Provident Fund

  • The use of EPF allows the availability of online services easily.
  • With the help of EPF, the claim settlement procedure has been reduced from 20 days to 3 days.
  • EPF is a major tax-saving scheme under the employees’ provident funds and miscellaneous provisions act, of 1952.
  • EPF helps in facilitating voluntary compliance with the promotion and encouragement of all sorts.
  • It is more beneficial for all the working employees as it helps in saving money in the long run.
  • A monthly contribution for an EPF account is more helpful, as it can help in dealing with various requirements instead of taking out a large amount of money for investment.
  • The amount of salary that an employee contributes is part of the non-tax deductible income.
  • In the time of emergencies, the employees can withdraw the amount of money from the account of EPF.
  • It helps in sustaining a decent lifestyle after retirement.

Services offered under the EPF scheme

  • Online registration – Employees can easily register themselves online for the EPF scheme under the EPFO portal.
  • Generation of UAN details – After registering online, the employees can generate UAN details using EPFO and then log in to the UMANG application for easy access to all their documents.
  • Online EPF subscription – Using an online platform or application, employees can easily pay the payments and apply for subscriptions.
  • Redressal of grievances – In case of failure of transfer, withdrawal of PF or regarding settlement of pension statements of PF. The employee can easily make a complaint in case of queries.
  • Missed Call and SMS services – Employees can easily get details of their PF account such as balance, previous contribution and so forth, simply by sending an SMS (Format: EPFOHO UAN to 7738299899) or by giving a missed call at 011-22901406. You can also contact ESI PF Consultant for a better solution to your queries.
  • EPF Member Passbook – The registered members can easily download their EPF Passbook on the EPFO member portal. They can take a detailed look at the transactions linked to their contributions and withdrawals from their EPF account.
  • Pensioner’s Portal – The working employees are always allowed to get the answers to all their pension-related queries such as Pension Payment Order (PPO), pension credit, passbook details, etc. 
  • TRRN Query – The TRRN Query is known as the Temporary Return Reference Number that is used to check the status of an employee’s PF challan payment.
  • Helpdesk – The online EPFO member portal has provided a helpdesk for queries of the employees related to Provident Fund.
  • COC Application Form – COC application form is a form that stands for Certificate of Coverage, available on an online portal that can be filled through the website.

Employer’s State Insurance 

This government scheme provides social security and betterment to working employees in the form of financial aid during health-related crises. This scheme is controlled by the Employee State Insurance Council(ESIC). According to section 38 of the act, it is stated that all your employees are insured. The most commonly provided benefits by this scheme are maternity benefits, medical benefits, disability benefits and so forth. According to section 2(A) of the Act, you need to register your business under ESIC for the betterment of the employees. 

Benefits of Employer’s State Insurance

The government scheme ESI deals with providing six main benefits for the social security of employees. They are as follows:

  • Maternity Benefits: As per guidelines directed under the ESI scheme, the employee who is insured can get up to 26 weeks of paid leave from the time of their labour and the leave may be extended for up to a month. 
  • Medical Benefits: The employee who has registered themselves or is an insured employee can receive total medical benefits. Not only the particular employee but his family can also enjoy full medical benefits. For medical benefits, the employee has to pay a token amount of Rs.120 annually.
  • Sickness Benefits: Following the guidelines of the ESI scheme, an insured employee can be benefited from 70% of their daily wages for a maximum of 91 days in a year during a medical leave. Moreover, if the employee is facing long-term diseases then they can get up to 80% of their daily wages.
  • Unemployment Allowance: Another benefit for registering under the ESI scheme is that, if an employee has worked for an insurable job for over 3 years, then he is able to access this benefit of unemployment allowance. And, in case of some circumstances such as the company shutting down, the employee is able to claim an allowance equivalent to 50% of their daily wages for up to 2 years.
  • Disablement Benefit: Next benefit of the ESI scheme is the disablement benefit that covers both the permanent and temporary disabilities that might occur to an insured employee in the following conditions such as during the course of their work, due to the hazardous nature of their work and so forth. Furthermore, employees who are facing disability can get up to 90% of their daily wages. And, in case of death, their immediate family can get the benefits.
  • Extended Benefits: Some of the major other benefits covered by the ESI scheme are as follows: Funeral Expenses, Old Age Medical Care, Rehabilitation, etc.

Services offered under the ESI scheme

As embraced above, the ESI scheme mainly focuses on social security. Therefore, the services it provides are full medical care, immunisation, family welfare services, and a supply of special aids.

  • Full Medical Care: As per the necessary guidelines, the ESI scheme provides full medical care to an insured employee and the full medical care consists of the hospitalisation facilities and also includes specialist services, drugs and dressings and diets as required for in-patients.
  • Expended Medical Care: If you register under the ESI scheme or you are an insured employee then you are eligible for extended medical care services which consist of a consultation with the specialists and the supply of special medicines and drugs as may be prescribed by doctors. This scheme also includes facilities for special laboratory tests and X-Ray examinations. The corporate not only provides these services to the working employee but his family too gets benefit with expended medical care.
  • Immunisation: Apart from medical care, the victims are allowed immunisation. The corporation has organised a massive programme for immunisation of all ages from young children to insured persons. The corporation provides immunisation against the diseases such as diphtheria, pertussis, polio, tetanus, measles, mumps, rubella, tuberculosis etc.
  • Family Welfare Services: Along with the immunisation massive programme, the controlling organisation has undertaken the provision of family Welfare services to the beneficiaries of the scheme. Following the guidelines, the corporation has organised these services in a total of 180 centres with 330 beds installed as a reservation to perform tubectomy operations. The corporation of government scheme ESI has also extended additional cash incentives to insured persons equal to full wage for 7 days for vasectomy and 14 days for tubectomy. 
  • Supply Of Special Aids: Moreover, the Insured employees and their family members are provided with artificial limbs, hearing aids, and artificial appliances like spinal supports, cervical collars, walking callipers, crutches, wheelchairs and cardiac pacemakers as a part of medical care under the Scheme.

Conclusion:

Last but not the least, it is the employer’s responsibility to provide security to the employees. Registering your business under EPF and ESI schemes will help the employee to make savings of some amount of income for the long-term and ensure full medical care to the employee and his family members. You can register by yourself on an online portal or contact ESI PF Consultant to accomplish the registration process of government insurance schemes for organisational growth and increased production of goods with the help of increased employment.