ESIC
5 ESIC
Payroll & Compliance – Important Legislative Updates in September!
ADP monthly chronicle – September 2020Relaxation of Unemployment Allowance Benefit under ESICESIC under “Atal Bimit Vyakti Kalyna Yojna” had been paying unemployment benefit of 25% of average wages to the workers covered under ESI Scheme until 30 June 2020. Under the current socio socio-economic situation, the Corporation has decided to extend the scheme for one more year i.e. up to 30 June 2021. Along with such extension, it has been decided to relax the existing conditions and the amount of…
Posted by: The ADP Team 09 Sep 2020 | 0 Comments
Legislative Update – Social Security Code 2019
Labour Minister Mr. Santosh Kumar Gangwar, on Wednesday, 11 December 2019, introduced the Social Security Code Bill, 2019 in Lower Parliament, paving way for universalization of social security for all workers in the Country. The Bill intends to amalgamate, simplify and rationalize the relevant provisions of the following nine central labour enactments relating to social security, namely:-Employees’ Compensation Act, 1923Employees’ State Insurance Act, 1948Employees’ Provident Funds and Miscellaneous Provisions Act, 1952Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959Maternity Benefit Act, 1961Payment…
Posted by: The ADP Team 17 Dec 2019 | 0 Comments
Payroll & Compliance – Important Legislative Updates in October!
ADP monthly chronicle – Oct. 2019New Rule for Insured Person (IP) generation under ESICEmployee State Insurance Corporation (ESIC) introduced a new rule, wherein, all new joinees would be allotted/seeded with IP number, immediately upon his date of appointment. Thus, ESIC online portal currently mandates companies to generateIP details and seed the same within 10 days of joining to avoid any discrepancies.The department has informed, that any such monthly contribution for such employees must be submitted within the due date.The department…
Posted by: The ADP Team 11 Nov 2019 | 0 Comments
Cost-to-Company (CTC) and Statutory Compliance
(Volume – 35 of Coffee Break Compliance Guide from Anandan Subramaniam) CTC – a term which has replaced wages/salary. Is it statutorily right?Wages or Salary is a periodic payment received by a person engaged to perform specific job in an organization.As per section 3 of Payment of Wages Act, 1936, every employer shall be responsible for the payment of all wages reported to be paid under this Act to persons employed by him and in case of persons employed in Factories,…
Posted by: ericmikio 08 Apr 2019 | 0 Comments
The Coffee Break Guide to Compliance – Vol. 11
This post is part of the Coffee Break Guide to Compliance by Anandan Subramaniam. Please subscribe to the blog updates if you’d like to be notified of these posts. Please comment below with your doubts and queries. The Coffee Break Guide to Compliance – Vol. 11 {Various Types of Wages under the ESIC – DEFINED} The largest and best social security benefit in India for the working class is the Employees' State Insurance (ESI). The coverage extends to those workers…
Posted by: 17 Aug 2018 | 0 Comments