THE EMERGING TRENDS IN ESI BENEFITS – A BIRD'S EYE VIEW

Prof. P. Arun Kumar, K. G. K. Patnaik

Abstract


As there are many changes taking place in industrial units pertaining to their manpower planning and management, the recent Govt. has taken a move to reduce the salary contributions from 6.5% to 4% of the industrial workers who are insured under ESI Act 1948. The main aim of Employees’ State Insurance Corporation (ESIC), is to provide medical, cash, maternity, disability, and dependent benefits to the insured. This Act applies to all the organizations with 10 or more employees, drawing a salary of up to Rs. 21,000. The scheme, is governed by the state-administered authorities. Researchers and experts believe that this move will impact the improved compliance and cover about 36 million employees working in more than 1.3 million organizations. In this paper, efforts were made to understand the influence of the recent trends in the ESI Contributions

Keywords


Manpower planning, industrial workers, compliance, ESI Contributions

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References


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