ESIC Full Form

What is the full form of ESIC?

The ESIC full form is the Employees State Insurance Corporation. In accordance with the Employee State Insurance Act of 1948, it is a state-run institution responsible for overseeing the ESI plan. The organization’s mission is to give social assistance to Indian employees and their families who earn less than Rs. 25000 per year.

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A comprehensive insurance program was developed to aid employees in the event of unforeseen circumstances such as illness, injury, accident, pregnancy, or death. The ESIC headquarters are located in New Delhi. It has twenty-three regional offices, twenty-six sub-regional offices in the states, and more than 800 local offices nationwide to support the execution of the ESI plan.

ESIC structure

• The Director-General of ESIC is appointed by the Central Government.
• The executive authority of the corporation is delegated to a standing committee comprised of ESIC members.
• There is also a Medical Benefits Board that advises the ESIC on problems pertaining to medical benefits.
• The ESIC oversees the ESI program.
• The ESI scheme’s services are consistent with those of the International Labour Organization. Employers and employees provide the necessary funds to fund this scheme.

Advantages of ESIC

ESI provides healthcare coverage in the event of an accident, disability, illness, pregnancy, or even death on the job, as well as financial benefits during unemployment. The ESI system’s advantages are outlined below. 

1. Physical Disability Benefits
2. Medical Benefits
3. Maternity Benefits
4. Dependent Benefit
5. Unemployment Allowance.
6. Sickness Benefit