Full Form Of ESIC

What is the full form of ESIC?

ESIC is the acronym of Employees State Insurance Corporation, a state-run organization that was set up under the Employee State Insurance Act of 1948. It oversees the ESI plan and provides social services to Indian laborers and their families, who have an income below Rs. 25000.

This all-inclusive insurance service helps employees in emergency situations like illness, pregnancy, injury, accident, or death. It has its headquarters in New Delhi and in order to support proper implementation of the plan remotely, it has twenty-three regional offices and twenty-six sub-regional offices in various states and union territories. Altogether it has more than 800 local offices around the country.

ESIC structure

• The Central Government is responsible for appointing the Director-General of ESIC.
• A standing committee composed of ESIC members holds the corporation’s executive powers.
• The Medical Benefits Board advises ESIC on medical matters.
• Supervises the ESI (Employee State Insurance) scheme.
• The services under the ESI scheme are in accordance with the International Labour Organization. The employers and staff provide the money required for this plan.

Entities covered under ESIC

Following are the establishments that fall under ESIC. They have to compulsorily apply for an ESIC when they have successfully employed 10 or more people.

1. Shops.
2. Restaurants or hotels engaged only in sales.
3. Cinemas.
4. Road motor transport establishments.
5. Newspaper establishments (not under the Factory Act).
6. Private medical institutions.
7. Private educational institutions.

Benefits of ESIC

Following are the benefits of the ESI system:

1. Physical Disability Benefits
2. Medical Benefits
3. Maternity Benefits
4. Dependent Benefit
5. Unemployment Allowance.
6. Sickness Benefit