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What is ESI Returns

Initiated for benefit of factory workers, the scheme later became applicable for all entities having 10 or more employees getting to work on low wages. The ESI scheme ensures numerous benefits to employees and covers a major network of clinics & hospitals having expertise in critical medical ailments. For every establishment/unit/factory with over 10 employees and having a payout wage rate of less than Rs 21,000 per month, it is mandatory for them to get registered under the ESI ACT within 15 days of their applicability of act.

According to this Act, every employee earning Rs 21,000 p.m or less have to contribute 0.75% of his/her pay towards ESI, while the employer/company contribution would be be proportioned to 3.25% of the wages paid

Documents for ESI Returns


Attendance register

Register for Form 6

Register of wages

Register of any accidents on the premises

Inspection book

Monthly challans and returns submitted for ESI

Call Us at : 8422985681 / 9833628008


PACKAGES


Basic

999/-
Inclusive all taxes

ESI return filing for employers less than 20 employees.

Premium

2999/-
Inclusive all taxes

ESI return filing for employers less than 100 employees.

Standard

1999/-
Inclusive all taxes

ESI return filing for employers less than 50 employees.

Online Procedure for filing ESI returns

1

Document Collection

Our ESI Expert will collect the necessary information and requisite documents for preparation of ESI return for your business.
2

Return Prepartion

Based on the documents and information presented, our ESI expert will prepare your ESI return and send for your approval.
3

Return Filing

Once the return is prepared and is verified by your side, our expert will file the same with the ESIC department.

Things to consider while doing ESI returns

  • The company has to have the past 6 months ESI contribution record that it made to the employees ESI state.
  • 1st April to 30th September and 1st October to 31st March, which has to be submitted to the nearest branch office or ESI regional commissioner on form no. 5, which is usually prefered.
  • The deadline would be over if they did not submit within 42 days of the 6 months period getting expired on the october to march basis.

FAQ’s About ESI Returns

  • What if the company fails to do proper ESI returns?

    ESI returns are mandatory for the registered company, as it indicates the track record of the company’s contribution as it falls under the taxable criteria. And it is not legal to go unfiled.
  • Will the employees have unique number ?

    Yes each employee would have a unique 17 digit number to represent their ESI hold of insurance.
  • If the employees wage gets over 15,000 INR what is the case ?

    If the wage limit has been exceeded that is over 15000 INR on per month basis now the contribution on the employers side is reduced based on the difference and is contributed now from the salary of the employee.
  • Is there a late fee added if failed to do proper payment timing?

    Yes there involves a 12% of interest on early basis of every late payment cycle calculated based on the days.
  • What does the ESI covers?

      The ESI covers the financial state, healthcare, maternity, family emergencies and pension based benefits of an employee.
  • Benefits from filing ESI Returns ?

    • The Employer contributes 4.75% of the salary’s worth and the actual 1.75% is contributed from the monthly salary of the employee which amounts to 6.5% in total on per month basis.
    • The copy enclosing all the ESI related documents must be submitted with the ESI organisation on six month basis.
    • They help in the betterment in the lives of the employees in terms of better medical benefits and lifestyle.
    • ESI is an autonomous corporation under Ministry of Labour and Employment, Government of India. Kshitij Consultancy can help you obtain ESI registration for your business.
    • They can avail the benefits at the time of need pertaining to the emergency.
    • ESIC’s registered companies have to file their return annually. In which they have to show all the changes done during the preceding year.
  • How to calculate Insurance Savings in ESI returns ?

    • The ESI Scheme is financed by contributions from employers and employees. The rate of contribution by employer is 4.75% of the wages payable to employees. The employees' contribution is at the rate of 1.75% of the wages payable to an employee. Employees, earning less than Rs. 137/- a day as daily wages, are exempted from payment of their share of contribution.
    • Hence the total is 6.5 % of the salary of the person that goes against their insurance premium on monthly basis.

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