ESIC to raise wage threshold to Rs. 30,000 from existing limit Rs. 21,000
In order to provide maximum relief during the corona crisis, the Government of India is planning to increase the wage limit for ESIC coverage to Rs. 30,000 from existing wage limit for coverage under the Employees’ State Insurance Corporation Act Rs. 21,000/ Month.
The Ministry of Labor has submitted the proposal to the Ministry of Finance to increase the current maximum wage limit for ESIC coverage. People covered under Employees State Insurance Corporation (ESIC) will be able to benefit even if the salary is more than 21,000 rupees.
Preparation of rules started – Ministry of Labour is preparing to change the rules. More salaries will have the option to remain attached to the scheme. On getting unemployed, financial assistance will be according to the fixed limit. The proposal will be sent to the ESIC Board soon.
The move will add millions of workers to the ESIC pool, and will avail the medical benefits.
Most recently the ESIC has also announced the relaxation in eligibility criteria and enhancement in the payment of unemployment benefit under Atal Bimit Vyakti Kalyan Yojana.