According to the provisional payroll dataAccording to data published on Saturday, around 28,917 new establishments were incorporated into the social security scope of the ESI system in August, compared to 56,467 establishments added in July 2024.
“Of the total 2.07 million employees added during the month, 0.98 million employees or 47.6% of the total enrollments belong to the age group up to 25 years,” it said.
Furthermore, gender analysis of payroll data indicates that net enrollment of female members was 0.41 million in August 2024, while 60 transgender employees registered for the ESI scheme in the month under consideration, suggesting the ESIC’s commitment to offering its benefits. to each sector of society.
The payroll data is provisional as data generation is an ongoing exercise, he added.
The State Employees Insurance Corporation is one of the two main official social security organizations under the Ministry of Labor and Employment, the other being the Organization of Employees’ Provident Fund. The fund is administered by ESIC in accordance with the rules and regulations stipulated in the ESI Act, 1948. All employees earning up to Rs 21,000 per month as salary contribute 0.75% of their salaries, while the employer contributes the 3.25%, which brings the total contribution to 4%. which is used to provide medical and cash benefits to employees and their families. Employees registered in the plan are entitled to medical treatment for themselves and their dependents, cash unemployment benefits in certain contingencies, and maternity benefits in the case of female employees.
In case of disability or death related to employment, a disability benefit and a family pension are provided respectively.
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