Dear Jishneo
Variable pay does not effect the ESIC Rules, according new amendment realised in 10th May 2010 any person drawing Gross salary of rs. 15000/- and below with his or her dependents are eligible for ESIC.
Sai Kumar is Right in his stating. Performance Bonus is an additional incentive. Your Gross Salary should be considered as Rs. 13000/- and not Rs. 15500/- . Please be Very clear about your salary structure.
ESIC is not a LIABALITY for which you need an exemption. It is an Insurance and Medical Facility given to you and your dependents by the Government of India and the State Government at a very nominal salary deductions made from your salary. Please Check out the ESIC Website on internet
ESIC or Employees’ State Insurance Scheme of India, is a multidimensional social security system tailored to provide socio-economic protection to worker population and their dependants covered under the scheme. Besides full medical care for self and dependants, that is admissible from day one of insurable employment, the insured persons are also entitled to a variety of cash benefits in times of physical distress due to sickness, temporary or permanent disablement etc. resulting in loss of earning capacity, the confinement in respect of insured women, dependants of insured persons who die in industrial accidents or because of employment injury or occupational hazard are entitled to a monthly pension called the dependants benefit.