If you have recently enrolled or registered your company under the Employee State Insurance Corporation for ESIS then you must know about ESIC Pay Challan 2024.
Every employer has to deduct the contribution amount from the employee’s wage. The employer contributes 3.25% of the employees’ wage and the employee contributes 0.75% of wage.
And this contribution must be paid every month to ESI Fund which is known as ESI e-Challan. Here we will guide you on how to ESI Pay Challan.
Overview Of ESIC Pay Challan 2024
ESIC pay challan refers to the payment challan or form that employers use to deposit their contributions to the Employees’ State Insurance Corporation (ESIC).
It is a document used for the payment of ESIC contributions by the employer on behalf of their employees. In the past, employers have to visit the ESIC office and then fill out the ESIC Challan Form. You can see the format below:
But now employers can e-Challan using the ESIC portal. They can fill out the online e-challan form using the personal dashboard and manage the entry of the contribution sheet as well.
The ESIC pay challan contains details such as the employer’s name, address, ESIC code number, the period for which the contributions are being made, and the amount of contribution to be deposited.
It also includes information about the employees for whom the contributions are being made, such as their names, insurance numbers, and wages.
The ESIC pay challan is an important document as it serves as proof of payment and helps in maintaining accurate records of the ESIC contributions made by the employer.
It is crucial for employers to ensure timely and accurate payment of ESIC contributions using the paid challan to fulfill their obligations under the ESIC scheme.
ESIC Online Payment Update 2024
Comprehensive improvement in ESIC services:
- The limit for exemption in payment of the contribution of employees has increased from ₹ 137 per day to ₹ 176 per day.
- Unemployment under RGSKY for the insured/woman and her family
The period of allowance has increased from 12 months to 24 months. - The contribution rate has been reduced from 6.5% to 4% to provide relief to employers and employees.
- The grant (contribution) rate for employees has been reduced from 1.75% to 0.75%.
- And The contribution rate for employers has reduced from 4.75% to 3.25%.
- The period of maternity benefit has increased from 12 weeks to 26 weeks.
Esic Online Payment Bank List
About 58 banks are using which you can perform esic online payment. We have provided some of them below. [List may update]
- Allahabad Bank
- Axis Bank (Retail)
- Bank Of Barda (Retail and Corporate)
- Bank Of India-BOI
- Canara bank
- Bank Of Maharashtra
- Dena Bank
- HDFC Bank
- ICICI Bank
- IndusInd Bank
- Yes Bank
- Kotak Bank
If you want to see the full list of esic online Click Here- Bank List.
How To Do ESIC Challan Online Payment 2024
Here is the procedure for how you can make your ESIC Challan Payment online. Also, you can go with a very famous Labour Law Advisor.
Keep your Challan ID To Avoid Penalty.
ESIC Online Payment Procedure
- Firstly go to the official website of the ESI. www.esic.in.
- On the homepage, you can see ESIC links.
- In this click on the Pay e-challan option.
- Next, you will jump to another page.
- Here you have to fill in your Employer Code. Your employer will provide it.
- When you will fill in the captcha code and then click on search you will get the following info.
- You will get information about Employer Factory’s name and Address.
- Also, you will get your previous ESIC challan and Challan Number.
- Carefully select your ESIC Challan Number.
- Once you select your Challan Number you move to the Payment Page.
- We cannot discuss this further due to Privacy.
- The preceding procedure is easy.
- You will get a Generated Challan Number that can help in the future reference so you have to note it.
- Here you have to choose a payment option for SBI or Other banks and then go further.
- As you will continue you need your Net banking ID and Password for Payment.
- As e challan payment is done you can take your Esic Online Payment Receipt Print.
FAQs ESIC
The ESIC is a scheme whose full form is Employee State Insurance Scheme. It provides insurance to employees of various industries in India.
For the benefit of ESIC, a special format is used to deposit payments or contributions through a bank or the online ESIC Portal known as ESIC eChallan.
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