WHAT IS ESI RETURN ?
ESI return refers to the periodic submission of contribution details to the Employees’ State Insurance Corporation (ESIC) by employers. It includes information on the wages paid and the corresponding ESI contributions deducted from employees’ salaries.
Employers must file ESI returns biannually, detailing employee wages and contributions for the preceding six-month periods (April to September and October to March). The return must be filed electronically through the ESIC portal.
ESI returns are essential for ensuring compliance with the Employees’ State Insurance Act, 1948, and for providing accurate records of contributions made towards employees’ social security benefits, including medical care, maternity, disability, and unemployment benefits. Failure to submit ESI returns on time can result in penalties and legal consequences, making it crucial for employers to adhere to these statutory requirements for the welfare of their workforce.
DOCUMENTS REQUIRED FOR ESI RETURN
RECORDS OF THE EMPLOYEE'S ATTENDANCE
Records of employees' attendance track daily presence, absences, and work hours, essential for payroll and performance management.
FORM 6 REGISTER
Form 6 register records employee details, attendance, and wages for compliance with labor laws and regulatory requirements.
RECORDS OF WAGES OF THE EMPLOYEE'S
Records of employees' wages document salary payments, deductions, and overtime, ensuring compliance with labor laws and accurate payroll processing.
RECORDS OF ANY ACCIDENTS TAKE PLACE IN THE PREMISES
Records of any accidents on the premises document incidents, injuries, and responses, ensuring compliance with safety regulations and facilitating investigations.
SCRUTINY RECORD
A scrutiny record documents detailed examinations and evaluations of financial transactions, compliance, or other critical business activities for accuracy and accountability.
CHALLANS AND RETURNS
Challans and returns are official documents for tax payments and financial reporting, ensuring compliance with regulatory requirements.