What is the full form of ESI?

  1. What is the full form of ESI?
  1. The full form of ESI is Employees' State Insurance. It is a health insurance scheme benefit to Indian workers. the scheme offers medical benefits, disability benefits, maternity benefits, unemployment allowance, etc.

    It was founded on 24th February 1952. ESI is handled by the Employees' State Insurance Corporation (ESIC).

    It is an autonomous corporation under the Ministry of Labor and Employment, Government of India.

    Objective of ESI 1948

    The main objective of the ESI act is to provide economic security to people who work in factories.

    It provides secure sickness, maternity, and medical benefit to employees of the factories, and dependent benefit to dependents of employees.

    New Amendment of ESI

    With the effect of 1 January, 2017 ESIC increase the monthly wage limit to Rs.21000 from the existing Rs. 15000.

    Benefits of ESI

    There are a number of benefits that are offered by the Employee State Insurance Corporation:

    Medical Benefits

    ESIC Provide Medical facility to employees, it covers all the medical expenses of employees from day one of the individual's employment.

    Dependent's Benefits

    In case the employee meets with death due to an accident at the place of work, ESIC will provide a monthly payment to the dependent.

    Disability Benefits

    ESIC provides monthly wages to an employee in case of temporary disablement or for the remainder of the employee's life in case of permanent disablement.

    Maternity Benefits

    ESIC provides monthly wages to employees till 26 weeks of maternity. 6 weeks in case of miscarriage and 12 weeks of pay in case of adoption.

    Sickness Benefits

    ESIC pays 70% of the average daily wages of an employee during medical leave. maximum of 91 days.

    Unemployment allowance

    ESI covers if the insured lost their job due to some injury or involuntary loss of employment.

    Other Benefits

    Funeral Expenses

    Physical Rehabilitation

    Vocational Training

    Skill Upgradation Training under Rajiv Gandhi Shramik Kalyan Yojana (RGSKY)
What is the full form of ESI?