Glossary · HR, Payroll & Labour Law
ESIC
The statutory body that runs the Employees’ State Insurance scheme providing medical and cash benefits to covered employees.
The Employees’ State Insurance Corporation (ESIC) administers the ESI scheme, which provides medical care along with sickness, maternity, disablement and dependent benefits to employees in covered establishments earning wages below the notified ceiling. Employers and employees contribute a defined percentage of wages to the scheme.
Examples
A covered employee accesses an ESI hospital and claims sickness benefit through the scheme run by ESIC.