Wednesday, 12 October 2016

ESI Wage Limit Has Been Increased From 15000 to 21000 Rs

The Employees' State Insurance Corporation (ESIC) has raised the monthly wage threshold to Rs 21,000, from the current Rs 15,000, for increasing the coverage under its health insurance scheme. In a meeting held on 06/09/2016, the ESIC board also decided to give an option to existing insured persons to continue membership even if their wage are greater than Rs 21,000 per month. At present, all those insured under the ESIC scheme lose their membership of ESIC as well as that of the insurance cover if their wage overshoots the ceiling.

"ESIC has raised the threshold wage limit from Rs 15,000 to Rs 21,000," Labour Minister Bandaru Dattatreya told PTI after the board meeting of ESIC here. Labour Minister is the Chairman of the ESIC Board. Both the decisions will be implemented from October 1. Dattatreya added that this is a promising move and will result in raising the threshold will help bring in an additional 50 lakh members to ESIC.

At present, ESIC has 2.6 crore insured persons, which covers over 10 crore people, assuming four members of a family. At present, the wage threshold is Rs 15,000 per month for coverage under its social security scheme.

1 comment:

  1. Hi,
    Is there any update when is this finally applicable.