ESI(Employee’s State Insurance) Contribution Rate Reduced to 4 Percent From 6.5 Percent

The Employees’ State Insurance Corporation(ESIC) has reduced the contribution rate under the ESI Act.This move by the government body is expected to reduced the financial burden on employers and increase the in hand salaries of workers.The decision will benefit 36 million workers and 1.28 million employers under the ESIC Act.

This includes:

1)Reduction of employer’s contribution from 4.75% to 3.25%

2)Reduction in employee’s contribution from 1.75% to 0.75%

The notification is attached for your information

source-https://economictimes.indiatimes.com/news/economy/policy/government-reduces-esi-contribution-rate-to-4pc-industry-to-save-rs-5000-crore-annually/articleshow/69776145.cms

Author: admin

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