According to the data released by the ministry of labour and employment on Tuesday, around 11,000 new establishments have been registered in the month of February, 2023 under the Employees’ State Insurance Scheme ensuring social security cover to their employees.
This is, however, 51.7% lower than 22,800 new establishments registered under ESI Scheme in the month of January 2023.
Employees up to the age group of 25 years constituted the majority of new registrations with 0.74 million new joinees in February. “This is 46% of the total employees added in the month, suggesting that the youth of the nation are getting good employment opportunities in the country,” the ministry said in a statement.
Gender-wise analysis of payroll data of February, 2023 indicates addition of 0.31 million female workers under ESI Scheme while 49 transgender employees got registered under ESI Scheme in the month of February 2023, it said.
“It shows that ESIC is committed to deliver its benefits to every section of the society,” the ministry said, adding that the payroll data is provisional since the data generation is a continuous exercise.
Employees’ State Insurance Corporation is one of the two main statutory social security bodies under the ministry of labour and employment. The fund is managed by ESIC according to rules and regulations stipulated in the ESI Act 1948.All employees earning up to Rs 21,000 per month as wages contribute 0.75% of their wages while the employer contributes 3.25%, taking the total contribution to 4%, which is used to provide medical and cash benefits to the employees and their family.
The employees registered under the scheme are entitled to medical treatment for themselves and their dependents, unemployment cash benefit in certain contingencies and maternity benefit in case of women employees. In case of employment-related disablement or death, there is provision for a disablement benefit and a family pension respectively.
The scheme has 33.9 million insured persons and 131.6 million beneficiaries as on January 2023.