If we have a group medical Insurance in our company, is it that do we have any possibilities of replacing the ESI? Help me on it.
From India, Madras
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From India, Madras
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Medical Insurance is beneficial for employees who don’t come under the ESI bracket. But, for employees falling within the bracket, ESI coverage is madatory.
From India, Bangalore
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19From India, Bangalore
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Hi Sultan,
Mediclaim cannot be replaced by ESIC. There are different coverages for both of them. As per the law, an employee whose annual income is less than or equal to 120,000/- (one lakh twenty thousand) will be covered under ESIC. Any employee whose annual income exceeds that amount will be covered under mediclaim insurance. You cannot replace it with ESIC at all.
From India, Delhi
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Mediclaim cannot be replaced by ESIC. There are different coverages for both of them. As per the law, an employee whose annual income is less than or equal to 120,000/- (one lakh twenty thousand) will be covered under ESIC. Any employee whose annual income exceeds that amount will be covered under mediclaim insurance. You cannot replace it with ESIC at all.
From India, Delhi
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Dear Sultan,
There is a difference between ESIC and insurance. The main one is if you have a certain number of employees and gross below Rs. 10,000, ESIC is compulsory. Insurance is a matter of choice.
Thanks & Regards,
Sonali Wagle
wagle.sonali@gmail.com
From India, Thana
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There is a difference between ESIC and insurance. The main one is if you have a certain number of employees and gross below Rs. 10,000, ESIC is compulsory. Insurance is a matter of choice.
Thanks & Regards,
Sonali Wagle
wagle.sonali@gmail.com
From India, Thana
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ESIC is a social sector organization under the Ministry of Labour that provides medical facilities to employees working in the unorganized sector with a salary of Rs. 10,000 per month, inclusive of all allowances. They also provide cash benefits to employees based on their contributions. However, the Group Medical facility only provides services to employees who are not covered under ESIC, offering cashless benefits.
From India, Ghaziabad
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From India, Ghaziabad
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Group Medical Insurance benefit is at the discretion of the management. It is a part of the welfare scheme. So, do not confuse it with ESI and Medical Insurance. You cannot replace the ESI scheme; it is a compulsory scheme with various benefits available.
:razz: MANOKAVIN
From India, Coimbatore
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:razz: MANOKAVIN
From India, Coimbatore
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Dear Sumit,
Based on my experience, ESIC cannot replace medical facilities. If an employee is receiving Rs. 10,000 per month, ESIC is mandatory. However, the availability of Group Medical Insurance depends on your company's policy.
In my company, ESIC-covered employees are also included in the (Private) group medical facility as per need, with insurance coverage of Rs. 100,000. Additionally, they are eligible for a medical allowance of Rs. 1,250 per month, which is reflected in their salary slip.
Please let me know if you need further clarification or assistance.
Thank you.
From India, Pune
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Based on my experience, ESIC cannot replace medical facilities. If an employee is receiving Rs. 10,000 per month, ESIC is mandatory. However, the availability of Group Medical Insurance depends on your company's policy.
In my company, ESIC-covered employees are also included in the (Private) group medical facility as per need, with insurance coverage of Rs. 100,000. Additionally, they are eligible for a medical allowance of Rs. 1,250 per month, which is reflected in their salary slip.
Please let me know if you need further clarification or assistance.
Thank you.
From India, Pune
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Dear Sultan,
1) You cannot replace ESIC with another medical facility. ESIC coverage is compulsory for an employee who is earning Rs. 10,000/- per month.
2) You can provide (as per company policy) private medical insurance/allowance/reimbursement along with ESIC.
Regards,
Deeps
From India, Pune
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1) You cannot replace ESIC with another medical facility. ESIC coverage is compulsory for an employee who is earning Rs. 10,000/- per month.
2) You can provide (as per company policy) private medical insurance/allowance/reimbursement along with ESIC.
Regards,
Deeps
From India, Pune
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Kerala HC- employee entitled to higher amt if recd from insurance co 18092017.pdf