language employees' state insurance corporation raises wage … · 2016-09-08 · wage...
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9/7/2016 Employees' State Insurance Corporation raises wage threshold to Rs 21,000 The Economic Times
http://economictimes.indiatimes.com/news/economy/policy/employeesstateinsurancecorporationraiseswagethresholdtors21000/articleshow/5403325… 1/5
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By PTI | Sep 06, 2016, 07.13 PM IST Post a Comment
"ESIC has raised the threshold wage limit from Rs 15,000 to Rs21,000," Labour Minister Bandaru Dattatreya said after theboard meeting of ESIC.
Employees' State InsuranceCorporation raises wage threshold to Rs21,000
READ MORE ON » ESIC | Employees' State Insurance Corporation | Bandaru Dattatreya
NEW DELHI: The Employees' StateInsurance Corporation (ESIC) today raisedthe monthly wage threshold to Rs 21,000,from the current Rs 15,000, for coverageunder its health insurance scheme.
In a meeting held today, the ESIC board alsodecided to give an option to existing insuredpersons to continue membership even if theirwage breaches the ceiling of Rs 21,000 permonth.
At present, all those insured under the ESICscheme lose their membership of ESIC aswell as that of the insurance cover if their wage overshoots the ceiling.
"ESIC has raised the threshold wage limit from Rs 15,000 to Rs 21,000," Labour MinisterBandaru Dattatreya told PTI after the board meeting of ESIC here. Labour Minister is theChairman of the ESIC Board.
Both the decisions will be implemented from October 1.
Dattatreya added that the move of raising the threshold will help bring in an additional 50 lakhmembers to ESIC.
At present, ESIC has 2.6 crore insured persons, which covers over 10 crore people,assuming four members of a family.
The minister also said there is a plan to increase the wage threshold for retirement fund bodyEPFO subscribers and it may be considered in the next meeting of the Central Board ofTrustees (CBT).
At present, the wage threshold is Rs 15,000 per month for coverage under its social securityscheme.
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