GHR Advisory facilitates seamless compliance with the Employee State Insurance (ESI) scheme, a government initiative providing medical, monetary, and other benefits to employees. Governed by the autonomous authority, the Employee State Insurance Corporation, under the Ministry of Labour and Employment, GHR Advisory ensures businesses meet the mandatory requirement for ESI if they have more than 10 employees (or 20 in some states).
For businesses with a turnover of less than ₹1.5 crore, GHR Advisory offers a hassle-free solution through the composition scheme, streamlining GST formalities. This scheme allows businesses to opt for a fixed rate of turnover, eliminating the complexities associated with traditional GST procedures. GHR Advisory assists taxpayers in navigating the composition scheme, providing a convenient and efficient way to manage GST obligations.
Employers with more than 10 employees (or 20 in some states) are legally mandated to register for ESI.
ESI registration provides employees with medical benefits, financial assistance during sickness, maternity benefits, and various other perks to ensure their well-being.
ESI contributions are calculated as a percentage of the employee's gross salary, with a specific portion contributed by the employer and the employee respectively.
