WHAT IS ESI RETURN ?
ESI (Employee State Insurance) return refers to the periodic filing of contributions made towards employee health insurance and social security under the Employee State Insurance Act (ESI Act). Employers are required to contribute a percentage of their employees’ wages towards the ESI scheme, which provides medical and cash benefits to employees and their dependents in times of sickness, maternity, disablement, or death due to employment-related injury.
ESI returns involve:
- Calculating the total wages of all employees eligible for ESI.
- Determining the ESI contributions payable by both the employer and the employee.
- Submitting the ESI contributions along with the return to the Employee State Insurance Corporation (ESIC) within the stipulated timeframe, typically on a monthly basis.
Filing ESI returns ensures compliance with statutory obligations and allows employees to avail of benefits under the ESI scheme. Non-compliance can lead to penalties and legal consequences for employers.
DOCUMENTS REQUIRED ESI RETURN
RECORDS OF EMPLOYEE'S ATTENDANCE
Records of employee attendance include logs or databases documenting hours worked, leaves taken, and absences for payroll and compliance.
FORM 6 REGISTER
Form 6 register maintains records of employees eligible for the Employees' Provident Fund scheme, including personal details and contributions.
RECORD OF WAGES OF EMPLOYEE'S
Record of wages of employees includes details of earnings, deductions, and net pay for payroll processing and compliance purposes.
RECORDS OF ANY ACCEDENTS TAKEN PLACE IN PRIMISES
Records of accidents on premises include documentation of incident details, injuries sustained, and actions taken for safety and reporting purposes.
SCRUTINY RECORDS
Scrutiny records are documents detailing examinations or reviews conducted to verify accuracy, compliance, or completeness of information or activities.
CHALLANS AND RETURNS
Challans are payment receipts, and returns are reports filed with authorities, documenting financial transactions and compliance with regulations.