Employee Benefit

A GREAT PROJECT AND A WINNING TEAM

A GREAT PROJECT AND A WINNING TEAM

ATHLETE VS DEVELOPERS. IN SPORTS, WHEN GREAT ATHLETES GO TO A TEAM THAT IS DOING BADLYLURED IN WITH THE PROMISE OF HEADING UP A NEW ERA FOR THAT TEAM.

TO GET THE VERY BEST DEVELOPERS, YOU EITHER NEED TO HAVE A GREAT PROJECT AND A WINNING TEAM OR YOU NEED TO PONY UP THE BIG BUCKS.
ATTRACT THE DEVELOPERS TO HELP YOU IN COMPLETING THE PROJECT.

A CHALLENGING JOB
FEW TOP-TIER PEOPLE -LIKE WORKING IN AN UNCHALLENGING JOB. MORGAN FREEMAN DOES NOT ACT IN B-FILMS WHEN A CANDIDATE (OR EMPLOYEES) GIVEN A JOB THAT IS CHALLENGINGOVERLOOK THE ALTERNATIVES. TELL THE PROSPECTIVE CANDIDATES WHY THE JOB WILL BE A CHALLENGE, AND THEY WILL LEAVE THAT INTERVIEW ALREADY SAVORING THE THRILL OF VICTORY WHEN THEY MEET IT. SHOW THEM A JOB THAT ANY ENTRY-LEVEL PERSON CAN HANDLE, AND THEY WILL WONDER HOW LONG THEY WILL BE THERE UNTIL THEY ARE REPLACED WITH AN ENTRY-LEVEL PERSON.

Benefits under the ESI Act 1948

Six kinds of benefits are provided under the Act: Sickness benefit Maternity benefit Disablement benefit Dependents benefit Medical benefit and Funeral expenses.

Sickness Benefit
Standard Benefit rate,
Min. period is 71days/yr Max. period is 91days /yr. Lowest rate is Rs. 14/Highest rate is Rs. 195/-

Maternity Benefit
Minimum 80 days in the immediately preceding two consecutive contribution periods is must. Max. period is 91days /yr

Disablement benefit
Permanent disablement, whether total or partial, as a result of an employment injury (injury caused by an accident arising out of and in the course of employment).
Benefit for the whole of life.

Dependents benefit
When an insured employee dies as a result of an employment injury, his widow and children and in case the employee does not leave behind him a widow or children, his other dependants, are entitled to receive periodical payments.

Medical benefit
Sickness of Insured employee or (where medical benefits is extended to his family) a member of his family. Available to the employee during any period for which contributions are paid in respect of him or in which he can claim sickness benefit.

Funeral expenses

Max. payment 2500/Elder member of his family will get it.

Benefits cannot be combined

Both sickness benefit and maternity benefit; or Both sickness benefit and disablement benefit for temporary disablement; or Both maternity benefit and disablement benefit for temporary disablement.

Offences
If any person (a) Fails to pay any contribution payable by him under the Act; or (b) Deducts from the wages of an employee the employer's contributions ; or (c) Fails to submit any return required by the regulations, or makes a false return. He would be punished with imprisonment up to 1 year or with fine up to Rs. 4000/- or with both.

Revision w.e.f. 01.12.2007

Daily rates of sickness is increased by 20% Disability Benefit increased to 50% from 40% For dependent also increased to 50% from 40%. For funeral it increased to rs.3000 from 2500.