One of the two main statutory social security bodies, Employees’ State Insurance Corporation (ESIC) has increased the rate of Permanent Disablement Benefit & Dependant’s Benefit.
To neutralize the impact of inflation, the proposal to increase the basic rate of Permanent Disablement Benefit (PDB) and Dependant’s Benefit (DB) was approved by ESI Corporation.
The PDB is paid at the rate of 90% of wages in the form of monthly payments depending upon the extent of loss of earning capacity as certified by a Medical Board.
The DB is paid at the rate of 90% of the wage in the form of monthly payment to the dependants of a deceased Insured person in cases where death occurs due to employment injury or occupational hazards.
The vision to improve the healthcare infrastructure, the proposal for setting up 09 new ESIC Hospitals in the state of Maharashtra, Madhya Pradesh, and Uttarakhand and 17 new dispensaries in Gujarat has been approved.
Moreover, bed strength is set to increase from 100 to 120 and from 75 to 150 in ESIC Hospital, Bibvewadi, Maharashtra, and ESIC Hospital, Rourkela, Odisha, respectively.
The provisional payroll data of Employees’ State Insurance Corporation (ESIC) reveals that 17.28 lakh new employees have been added in October 2023.
Around 23,468 new establishments have been registered and brought under the social security umbrella of the Employees’ State Insurance Corporation in October 2023.
Data reveals that more jobs have been generated for the youth of the nation as out of the total 17.28 lakh employees added during October 2023, 8.25 lakh employees up to the age group of 25 years constitute the majority of new registrations which is 47.76% of the total employees.
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