Employees' State Insurance Current Affairs, GK & News

ESIC to pay 50% of 3 months’ average wages as Unemployment benefit

In a recent notification, the Employees’ State Insurance Corporation declared to relax their norms, to aid the people who became jobless amid the COVID-19 outbreak with 50% of average wages of three months as unemployment benefit. Highlights The people who lost their job between March 24 and December 31 will get the benefit. A total ..

Month: 

Category: 

Topics: 

PM Launches National Pension Scheme for Small Traders and Self Employed Persons

Prime Minister Narendra Modi launched the National Pension Scheme for Traders and Self Employed Persons with annual turnover not exceeding Rs 1.5 crore. About the Scheme It is a voluntary and contributory pension scheme for traders in the age group of 18 to 40 years The scheme provides for minimum assured pension of Rs 3,000 ..

Category: 

Topics: 

Employees’ State Insurance Corporation (ESIC) tiews up with SBI for DBT facility

The Employees’ State Insurance Corporation (ESIC) has partnered with State Bank of India (SBI) for direct transfer of benefits electronically into bank accounts of all stakeholders. As per pact, SBI will provide e-payment services directly to bank accounts of all ESIC beneficiaries and payees without any manual intervention as an integrated and automated process. The ..

Topics: 

ESI Rate Cut

The government has reduced the rate of contribution for medical care under the ESI (Employees State Insurance) Act to 4% from 6.5%. How does ESI work? The medical services being provided by the ESI Scheme in the respective states and Union Territories are regulated by the ESI Corporation. The scheme is operated by the funds ..

Category: 

Topics: 

Government of India reduces rate of contribution under Employees’ State Insurance (ESI) Act from 6.5% to 4.0%

The Union Government has taken a historic decision to reduce the salary contribution of industrial workers who are eligible for healthcare benefits under the Employees’ State Insurance Act (ESI) Act from 6.5% to 4.0%. The move is aimed at formalizing India’s informal workforce and expanding social security coverage. The reduced rates will be effective from ..

Category: 

Topics: