Dev Bhumi Security Services

The Government of India has introduced a scheme of health insurance for all workers and made it an Act on 19th Apr. 1948 to provide certain health and treatment benefits to the employees in case of sickness, maternity and employment injury. The ESI Scheme is administered by a corporate body called the ‘ESIC’. ESIC works according to the rules and regulation stipulated by ESI act, 1948. Employees State Insurance Corporation is self financing social security & health insurance scheme for the Indian employees / workers. Objectives of ESIC scheme are: To protect the employee in the organization against the events of sickness, disablement, maternity and death due to employment injury. To provide medical care to the insured employee and their family. Important Provisions of the Act Employees in commercial service and industrial sectors drawing wages upto Rs.15000/- per month are entitled to health insurance cover under the ESI Act. Contributions : The share of contribution of the employ...

The Employees Pension Scheme-1995 The central government in November 1995 introduced the employees’ pension scheme 1995. Contributions : For the pension scheme the employer contributions equivalent to 8.33% of the employee’s salary or Rs.541, whichever is less. Benefits and Entitlements : The following benefits and entitlements are covered under this scheme :- A) A member shall be entitled to :-   Superannuation pension :- If you has rendered eligible service of 10 years or more then 10 years and retires on attaining the age of 58 years.   Early pension :- If you have rendered eligible service of 10 year or more then 10 years then retires or otherwise ceases to be in employment before attaining the age of 58 years. B) On permanent and total disablement during the services then a member shall be entitled to :- A pension under the scheme. Pension to the family in case of death of the member / employee. While in service, provided that at least one month’s contribution has bee...

Employee provident fund is also called EPF is major method of savings in India for nearly all personnel working in Government, Public and Private Sector including the PSS. The Employees’ Provident Fund Organization (EPFO) works under the Ministry of Labour and Employment has the authority to mandate policies on EPF pension and insurance schemes. The Employee's Provident Fund Scheme & Miscellaneous provisions Act 1952 defined by EPFO is applicable to every establishment (business / not-for-profit) employing 20 or more then 20 persons. Important Provisions of the Act Contributions : under the EPF scheme, both the employee and employer contribute equally to the EPF @ of 12% the basic wages, dearness allowance and retaining allowance, if any  payable to the employee per month. Withdrawal From EPF : After the c ompletion of minimum six months service an employee can withdraw from the EPF by filling a withdrawal form. Some conditions of withdrawal for different stages of services i...